Dimensional Fund Advisors LP Has $399.34 Million Holdings in MGIC Investment Corporation $MTG

Dimensional Fund Advisors LP lessened its holdings in MGIC Investment Corporation (NYSE:MTG) by 0.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,076,069 shares of the insurance provider’s stock after selling 25,273 shares during the period. Dimensional Fund Advisors LP owned about 0.06% of MGIC Investment worth $399,339,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Cresset Asset Management LLC boosted its stake in shares of MGIC Investment by 140.4% in the 3rd quarter. Cresset Asset Management LLC now owns 33,122 shares of the insurance provider’s stock valued at $940,000 after purchasing an additional 19,344 shares in the last quarter. Picton Mahoney Asset Management lifted its stake in MGIC Investment by 58.4% in the 3rd quarter. Picton Mahoney Asset Management now owns 36,001 shares of the insurance provider’s stock valued at $1,021,000 after purchasing an additional 13,275 shares during the last quarter. South Dakota Investment Council lifted its stake in MGIC Investment by 42.4% in the 3rd quarter. South Dakota Investment Council now owns 338,491 shares of the insurance provider’s stock valued at $9,603,000 after purchasing an additional 100,736 shares during the last quarter. Victory Capital Management Inc. boosted its position in MGIC Investment by 5.4% in the third quarter. Victory Capital Management Inc. now owns 408,755 shares of the insurance provider’s stock valued at $11,596,000 after buying an additional 21,120 shares in the last quarter. Finally, Focus Partners Advisor Solutions LLC grew its stake in shares of MGIC Investment by 49.5% during the third quarter. Focus Partners Advisor Solutions LLC now owns 33,132 shares of the insurance provider’s stock worth $938,000 after buying an additional 10,967 shares during the last quarter. Institutional investors own 95.58% of the company’s stock.

MGIC Investment Stock Performance

Shares of MTG stock opened at $26.90 on Thursday. The company has a market capitalization of $5.78 billion, a P/E ratio of 8.57, a PEG ratio of 2.12 and a beta of 0.83. MGIC Investment Corporation has a fifty-two week low of $21.94 and a fifty-two week high of $29.97. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.52 and a current ratio of 1.52. The stock has a 50 day moving average price of $27.30 and a two-hundred day moving average price of $27.77.

MGIC Investment (NYSE:MTG) last released its quarterly earnings results on Monday, February 2nd. The insurance provider reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 period in the prior year, the company earned $0.72 earnings per share. The company’s revenue was down .9% compared to the same quarter last year. Analysts expect that MGIC Investment Corporation will post 2.71 earnings per share for the current year.

MGIC Investment Dividend Announcement

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

Analysts Set New Price Targets

A number of research analysts have recently commented on MTG shares. Keefe, Bruyette & Woods increased their price target on MGIC Investment from $27.00 to $28.00 and gave the company a “market perform” rating in a research note on Thursday, December 18th. Weiss Ratings lowered MGIC Investment from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Thursday, February 5th. Finally, Barclays dropped their target price on shares of MGIC Investment from $30.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 4th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $28.00.

Insiders Place Their Bets

In related news, COO Salvatore A. Miosi sold 30,000 shares of MGIC Investment stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $27.27, for a total transaction of $818,100.00. Following the completion of the transaction, the chief operating officer directly owned 454,245 shares of the company’s stock, valued at $12,387,261.15. This trade represents a 6.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Paula C. Maggio sold 20,000 shares of the company’s stock in a transaction dated 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 approximately $3,155,094.39. This trade represents a 14.85% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 189,203 shares of company stock worth $5,058,572. 1.05% of the stock is owned by corporate 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.