Amalgamated Bank trimmed its holdings in MGIC Investment Co. (NYSE:MTG - Free Report) by 25.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 123,955 shares of the insurance provider's stock after selling 43,153 shares during the period. Amalgamated Bank's holdings in MGIC Investment were worth $3,173,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also recently made changes to their positions in the business. Versant Capital Management Inc raised its stake 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 purchasing an additional 946 shares during the period. V Square Quantitative Management LLC bought a new stake in shares of MGIC Investment during the third quarter valued at approximately $33,000. GAMMA Investing LLC lifted its holdings in shares of MGIC Investment by 76.2% in the second quarter. GAMMA Investing LLC now owns 3,071 shares of the insurance provider's stock worth $66,000 after buying an additional 1,328 shares in the last quarter. Daiwa Securities Group Inc. boosted its position in shares of MGIC Investment by 600.0% during the first quarter. Daiwa Securities Group Inc. now owns 4,200 shares of the insurance provider's stock worth $94,000 after acquiring an additional 3,600 shares during the last quarter. Finally, Blue Trust Inc. grew its stake in MGIC Investment by 233.4% during the second quarter. Blue Trust Inc. now owns 4,985 shares of the insurance provider's stock valued at $111,000 after acquiring an additional 3,490 shares in the last quarter. Institutional investors own 95.58% of the company's stock.
MTG has been the topic of several research analyst reports. Royal Bank of Canada decreased their price target on shares of MGIC Investment from $28.00 to $27.00 and set a "sector perform" rating on the stock in a research note on Wednesday. Roth Mkm boosted their target price on MGIC Investment from $24.00 to $30.00 and gave the stock a "buy" rating in a research report on Friday, August 2nd. Barclays increased their price target on MGIC Investment from $23.00 to $24.00 and gave the company an "equal weight" rating in a research note on Tuesday, October 8th. Finally, BTIG Research lifted their price objective on MGIC Investment from $22.00 to $25.00 and gave the stock a "buy" rating in a research note on Monday, August 5th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $25.50.
View Our Latest Research Report on MGIC Investment
Shares of MTG stock opened at $24.46 on Friday. The company has a market cap of $6.20 billion, a PE ratio of 8.61, a price-to-earnings-growth ratio of 1.39 and a beta of 1.28. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.25 and a quick ratio of 1.11. The stock's 50 day simple moving average is $25.22 and its two-hundred day simple moving average is $23.22. MGIC Investment Co. has a 1 year low of $17.25 and a 1 year high of $26.52.
MGIC Investment (NYSE:MTG - Get Free Report) last posted its quarterly earnings data on Monday, November 4th. The insurance provider reported $0.77 EPS for the quarter, topping the consensus estimate of $0.66 by $0.11. MGIC Investment had a net margin of 64.09% and a return on equity of 14.99%. The company had revenue of $306.65 million during the quarter, compared to analyst estimates of $306.03 million. During the same period in the previous year, the firm earned $0.64 earnings per share. MGIC Investment's quarterly revenue was up 3.4% compared to the same quarter last year. Research analysts predict that MGIC Investment Co. will post 2.81 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 7th will be given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date is Thursday, November 7th. MGIC Investment's dividend payout ratio (DPR) is currently 18.31%.
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.
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