Measured Wealth Private Client Group LLC Cuts Stake in MGIC Investment Co. (NYSE:MTG)

Measured Wealth Private Client Group LLC trimmed its holdings in MGIC Investment Co. (NYSE:MTG) by 4.1% in the third quarter, HoldingsChannel reports. The fund owned 59,803 shares of the insurance provider’s stock after selling 2,582 shares during the period. MGIC Investment makes up 0.5% of Measured Wealth Private Client Group LLC’s investment portfolio, making the stock its 25th biggest position. Measured Wealth Private Client Group LLC’s holdings in MGIC Investment were worth $1,531,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. State of Alaska Department of Revenue raised its position in MGIC Investment by 0.4% during the 3rd quarter. State of Alaska Department of Revenue now owns 150,750 shares of the insurance provider’s stock valued at $3,858,000 after purchasing an additional 540 shares during the last quarter. Nations Financial Group Inc. IA ADV boosted its holdings in shares of MGIC Investment by 1.6% during the 2nd quarter. Nations Financial Group Inc. IA ADV now owns 35,306 shares of the insurance provider’s stock valued at $761,000 after purchasing an additional 565 shares during the last quarter. Fortem Financial Group LLC lifted its holdings in shares of MGIC Investment by 1.0% in the 2nd quarter. Fortem Financial Group LLC now owns 75,447 shares of the insurance provider’s stock worth $1,626,000 after acquiring an additional 747 shares during the last quarter. Versant Capital Management Inc lifted its holdings in MGIC Investment by 482.7% during the 2nd quarter. Versant Capital Management Inc now owns 1,142 shares of the insurance provider’s stock valued at $25,000 after buying an additional 946 shares in the last quarter. Finally, QRG Capital Management Inc. raised its holdings in shares of MGIC Investment by 7.7% in the second quarter. QRG Capital Management Inc. now owns 15,152 shares of the insurance provider’s stock valued at $327,000 after acquiring an additional 1,081 shares in the last quarter. 95.58% of the stock is owned by institutional investors.

MGIC Investment Stock Performance

Shares of MTG opened at $25.36 on Thursday. The stock has a fifty day moving average price of $25.32 and a 200-day moving average price of $23.01. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.13. MGIC Investment Co. has a 12 month low of $16.47 and a 12 month high of $26.52. The firm has a market cap of $6.57 billion, a PE ratio of 9.36, a P/E/G ratio of 1.32 and a beta of 1.28.

MGIC Investment (NYSE:MTG) last issued its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.15. The business had revenue of $305.28 million for the quarter, compared to analyst estimates of $301.02 million. MGIC Investment had a net margin of 63.19% and a return on equity of 14.97%. MGIC Investment’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.68 EPS. Equities research analysts predict that MGIC Investment Co. will post 2.76 earnings per share for the current fiscal year.

MGIC Investment Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 2.05%. The ex-dividend date is Thursday, November 7th. MGIC Investment’s payout ratio is 19.19%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on MTG shares. Barclays raised their target price on shares of MGIC Investment from $23.00 to $24.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 8th. Roth Mkm boosted their price objective on shares of MGIC Investment from $24.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Finally, BTIG Research increased their target price on MGIC Investment from $22.00 to $25.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $24.50.

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.