Leeward Investments LLC MA Sells 5,350 Shares of MGIC Investment Co. (NYSE:MTG)

Leeward Investments LLC MA cut its position in shares of MGIC Investment Co. (NYSE:MTG) by 0.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 689,581 shares of the insurance provider’s stock after selling 5,350 shares during the period. Leeward Investments LLC MA owned about 0.25% of MGIC Investment worth $13,302,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of MTG. GAMMA Investing LLC bought a new stake in MGIC Investment in the fourth quarter valued at $30,000. Wedge Capital Management L L P NC grew its position in MGIC Investment by 13.8% in the fourth quarter. Wedge Capital Management L L P NC now owns 77,195 shares of the insurance provider’s stock valued at $1,489,000 after acquiring an additional 9,338 shares during the period. Foster & Motley Inc. grew its position in MGIC Investment by 25.7% in the fourth quarter. Foster & Motley Inc. now owns 193,902 shares of the insurance provider’s stock valued at $3,740,000 after acquiring an additional 39,622 shares during the period. Signaturefd LLC grew its position in MGIC Investment by 4.0% in the fourth quarter. Signaturefd LLC now owns 22,162 shares of the insurance provider’s stock valued at $428,000 after acquiring an additional 862 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in MGIC Investment by 47.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 100,258 shares of the insurance provider’s stock valued at $1,934,000 after acquiring an additional 32,450 shares during the period. 95.58% of the stock is currently owned by institutional investors.

MGIC Investment Trading Up 0.6 %

Shares of MTG opened at $20.48 on Friday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.13. MGIC Investment Co. has a 12-month low of $13.97 and a 12-month high of $22.43. The firm has a market capitalization of $5.52 billion, a PE ratio of 8.22, a price-to-earnings-growth ratio of 1.68 and a beta of 1.24. The stock’s fifty day simple moving average is $20.45 and its 200-day simple moving average is $19.13.

MGIC Investment (NYSE:MTG) last issued its quarterly earnings results on Wednesday, January 31st. The insurance provider reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.10. MGIC Investment had a return on equity of 14.82% and a net margin of 61.72%. The business had revenue of $284.72 million for the quarter, compared to analyst estimates of $302.96 million. As a group, research analysts predict that MGIC Investment Co. will post 2.43 earnings per share for the current year.

MGIC Investment Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 21st. Shareholders of record on Thursday, May 9th will be paid a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend is Wednesday, May 8th. MGIC Investment’s payout ratio is 18.47%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on MTG shares. Roth Mkm upped their price target on MGIC Investment from $21.00 to $24.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Royal Bank of Canada boosted their price objective on MGIC Investment from $18.00 to $21.00 and gave the stock a “sector perform” rating in a research note on Friday, February 2nd. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $24.00 price objective (up previously from $23.50) on shares of MGIC Investment in a research note on Thursday, April 4th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $21.08.

MGIC Investment Profile

MGIC Investment Corporation, through its subsidiaries, provides private mortgage insurance, other mortgage credit risk management solutions, and ancillary services to lenders and government sponsored entities in the United States, the District of Columbia, Puerto Rico, and Guam. The company offers primary mortgage insurance that provides mortgage default protection on individual loans, as well as covers unpaid loan principal, delinquent interest, and various expenses associated with the default and subsequent foreclosure.