Integrated Quantitative Investments LLC Sells 25,405 Shares of MGIC Investment Corporation $MTG

Integrated Quantitative Investments LLC decreased its holdings in shares of MGIC Investment Corporation (NYSE:MTG) by 71.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,098 shares of the insurance provider’s stock after selling 25,405 shares during the period. Integrated Quantitative Investments LLC’s holdings in MGIC Investment were worth $286,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its position in shares of MGIC Investment by 13.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 18,331,120 shares of the insurance provider’s stock worth $510,338,000 after buying an additional 2,168,940 shares during the period. First Trust Advisors LP raised its stake in MGIC Investment by 48.1% during the second quarter. First Trust Advisors LP now owns 7,302,263 shares of the insurance provider’s stock worth $203,295,000 after acquiring an additional 2,370,403 shares in the last quarter. AQR Capital Management LLC raised its stake in MGIC Investment by 92.4% during the second quarter. AQR Capital Management LLC now owns 6,333,091 shares of the insurance provider’s stock worth $176,313,000 after acquiring an additional 3,041,446 shares in the last quarter. Norges Bank bought a new position in shares of MGIC Investment during the second quarter valued at $95,857,000. Finally, Goldman Sachs Group Inc. boosted its stake in shares of MGIC Investment by 6.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,103,366 shares of the insurance provider’s stock valued at $76,901,000 after purchasing an additional 195,895 shares in the last quarter. 95.58% of the stock is owned by institutional investors and hedge funds.

MGIC Investment Trading Down 0.3%

Shares of NYSE MTG opened at $26.82 on Friday. MGIC Investment Corporation has a 1-year low of $21.94 and a 1-year high of $29.97. The company has a market cap of $5.76 billion, a PE ratio of 8.54, a P/E/G ratio of 2.13 and a beta of 0.83. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.13. The company has a 50-day moving average of $27.24 and a two-hundred day moving average of $27.77.

MGIC Investment (NYSE:MTG) last released its quarterly earnings results on Monday, February 2nd. The insurance provider reported $0.75 EPS for the quarter, beating the consensus estimate of $0.73 by $0.02. MGIC Investment had a net margin of 60.84% and a return on equity of 14.33%. During the same quarter in the previous year, the company earned $0.72 EPS. MGIC Investment’s revenue was down .9% compared to the same quarter last year. As a group, equities analysts expect that MGIC Investment Corporation will post 2.71 earnings per share for the current fiscal year.

MGIC Investment Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Tuesday, February 17th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Tuesday, February 17th. MGIC Investment’s dividend payout ratio (DPR) is 19.11%.

Analysts Set New Price Targets

MTG has been the subject of a number of recent analyst reports. Barclays dropped their target price on shares of MGIC Investment from $30.00 to $28.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 4th. Keefe, Bruyette & Woods raised their price objective on shares of MGIC Investment from $27.00 to $28.00 and gave the stock a “market perform” rating in a report on Thursday, December 18th. Finally, Weiss Ratings downgraded MGIC Investment from a “buy (a-)” rating to a “buy (b+)” rating in a report on Thursday, February 5th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, MGIC Investment presently has a consensus rating of “Hold” and an average price target of $28.00.

Insider Transactions at MGIC Investment

In other news, EVP Paula C. Maggio sold 20,000 shares of the business’s stock in a transaction on Friday, February 6th. The stock was sold at an average price of $27.51, for a total transaction of $550,200.00. Following the completion of the sale, the executive vice president owned 114,689 shares in the company, valued at $3,155,094.39. The trade was a 14.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Salvatore A. Miosi sold 30,000 shares of the firm’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $27.27, for a total value of $818,100.00. Following the completion of the transaction, the chief operating officer owned 454,245 shares in the company, valued at approximately $12,387,261.15. This represents a 6.20% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 189,203 shares of company stock worth $5,058,572 over the last 90 days. 1.05% of the stock is owned by insiders.

MGIC Investment Profile

MGIC Investment Corporation (NYSE: MTG) is a leading provider of private mortgage insurance in the United States. Established in 1957 as the nation’s first private mortgage insurer, MGIC helps lenders manage credit risk and facilitates homeownership by protecting mortgage loans against default. Headquartered in Milwaukee, Wisconsin, the company operates through its principal subsidiary, Mortgage Guaranty Insurance Corporation, and maintains relationships with a broad network of originators and servicers nationwide.

The company’s primary business activity involves issuing mortgage insurance policies that enable borrowers to purchase homes with down payments below traditional lending thresholds.