Leeward Investments LLC MA Sells 28,366 Shares of MGIC Investment Co. (NYSE:MTG)

Leeward Investments LLC MA reduced its holdings in MGIC Investment Co. (NYSE:MTG) by 4.1% during the 1st quarter, Holdings Channel reports. The institutional investor owned 661,215 shares of the insurance provider’s stock after selling 28,366 shares during the quarter. Leeward Investments LLC MA’s holdings in MGIC Investment were worth $14,785,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Measured Wealth Private Client Group LLC increased its holdings in shares of MGIC Investment by 3.1% in the first quarter. Measured Wealth Private Client Group LLC now owns 60,508 shares of the insurance provider’s stock valued at $1,353,000 after purchasing an additional 1,837 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in MGIC Investment by 26.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 86,581 shares of the insurance provider’s stock valued at $1,936,000 after acquiring an additional 18,127 shares during the period. DGS Capital Management LLC raised its holdings in MGIC Investment by 27.1% in the 1st quarter. DGS Capital Management LLC now owns 82,452 shares of the insurance provider’s stock valued at $1,844,000 after acquiring an additional 17,557 shares during the period. Bank of New Hampshire bought a new position in MGIC Investment in the 1st quarter valued at about $1,726,000. Finally, CWM LLC boosted its holdings in shares of MGIC Investment by 249.1% during the first quarter. CWM LLC now owns 2,175 shares of the insurance provider’s stock worth $49,000 after acquiring an additional 1,552 shares during the period. 95.58% of the stock is owned by institutional investors.

MGIC Investment Trading Down 1.0 %

Shares of MGIC Investment stock traded down $0.21 on Thursday, reaching $21.65. 707,204 shares of the company’s stock were exchanged, compared to its average volume of 1,612,671. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.05 and a current ratio of 1.05. MGIC Investment Co. has a 52 week low of $15.19 and a 52 week high of $22.43. The firm’s 50-day moving average is $20.98 and its two-hundred day moving average is $20.32. The company has a market capitalization of $5.77 billion, a P/E ratio of 8.33, a price-to-earnings-growth ratio of 7.36 and a beta of 1.28.

MGIC Investment (NYSE:MTG) last issued its earnings results on Wednesday, May 1st. The insurance provider reported $0.65 EPS for the quarter, beating the consensus estimate of $0.60 by $0.05. MGIC Investment had a return on equity of 15.00% and a net margin of 62.85%. The company had revenue of $294.40 million during the quarter, compared to the consensus estimate of $301.62 million. During the same period last year, the business posted $0.54 EPS. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. Sell-side analysts predict that MGIC Investment Co. will post 2.52 EPS for the current fiscal year.

MGIC Investment Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 21st. Stockholders of record on Thursday, May 9th were issued a dividend of $0.115 per share. The ex-dividend date was Wednesday, May 8th. This represents a $0.46 annualized dividend and a dividend yield of 2.12%. MGIC Investment’s dividend payout ratio is 17.69%.

Wall Street Analysts Forecast Growth

MTG has been the subject of several analyst reports. UBS Group lifted their price objective on shares of MGIC Investment from $21.00 to $22.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 22nd. Keefe, Bruyette & Woods raised shares of MGIC Investment from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $24.00 to $25.00 in a report on Monday, June 3rd. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $21.83.

About MGIC Investment

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.