Capital Fund Management S.A. Sells 124,285 Shares of MGIC Investment Co. (NYSE:MTG)

Capital Fund Management S.A. reduced its position in MGIC Investment Co. (NYSE:MTG) by 66.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 62,381 shares of the insurance provider’s stock after selling 124,285 shares during the quarter. Capital Fund Management S.A.’s holdings in MGIC Investment were worth $1,479,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new stake in MGIC Investment in the 4th quarter worth about $1,740,000. Invesco Ltd. increased its stake in shares of MGIC Investment by 16.6% in the fourth quarter. Invesco Ltd. now owns 4,766,195 shares of the insurance provider’s stock worth $113,006,000 after purchasing an additional 677,227 shares in the last quarter. Bank of Montreal Can raised its position in shares of MGIC Investment by 4.5% in the fourth quarter. Bank of Montreal Can now owns 57,286 shares of the insurance provider’s stock valued at $1,358,000 after purchasing an additional 2,483 shares during the period. Cerity Partners LLC lifted its stake in shares of MGIC Investment by 271.1% during the 4th quarter. Cerity Partners LLC now owns 49,203 shares of the insurance provider’s stock valued at $1,178,000 after buying an additional 35,945 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd bought a new position in MGIC Investment in the 4th quarter worth approximately $487,000. 95.58% of the stock is currently owned by institutional investors.

MGIC Investment Price Performance

MTG opened at $24.28 on Wednesday. The stock has a market capitalization of $5.89 billion, a P/E ratio of 8.37 and a beta of 0.93. The company has a current ratio of 0.48, a quick ratio of 1.25 and a debt-to-equity ratio of 0.12. MGIC Investment Co. has a 12-month low of $19.26 and a 12-month high of $26.56. The stock has a 50-day moving average price of $23.97 and a 200-day moving average price of $24.53.

MGIC Investment (NYSE:MTG) last issued its earnings results on Monday, February 3rd. The insurance provider reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.07. MGIC Investment had a return on equity of 14.86% and a net margin of 63.18%. Equities analysts predict that MGIC Investment Co. will post 2.71 earnings per share for the current fiscal year.

MGIC Investment Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Tuesday, February 18th were given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date was Tuesday, February 18th. MGIC Investment’s payout ratio is presently 17.93%.

Insiders Place Their Bets

In other news, CAO Julie K. Sperber sold 4,600 shares of MGIC Investment stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $24.55, for a total value of $112,930.00. Following the transaction, the chief accounting officer now owns 75,070 shares in the company, valued at approximately $1,842,968.50. The trade was a 5.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.41% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

MTG has been the topic of several recent research reports. Compass Point restated a “neutral” rating and set a $27.00 target price (up previously from $24.00) on shares of MGIC Investment in a research report on Wednesday, February 5th. UBS Group increased their price objective on MGIC Investment from $25.00 to $26.00 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. Keefe, Bruyette & Woods reduced their target price on MGIC Investment from $28.00 to $26.00 and set a “market perform” rating for the company in a report on Tuesday, April 8th. Finally, Barclays increased their price target on shares of MGIC Investment from $25.00 to $26.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $26.50.

MGIC Investment Company 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.