MGIC Investment Co. (NYSE:MTG) Shares Sold by Hotchkis & Wiley Capital Management LLC

Hotchkis & Wiley Capital Management LLC lessened its position in shares of MGIC Investment Co. (NYSE:MTG) by 11.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 529,350 shares of the insurance provider’s stock after selling 70,960 shares during the period. Hotchkis & Wiley Capital Management LLC owned about 0.21% of MGIC Investment worth $13,551,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. GSA Capital Partners LLP grew its stake in shares of MGIC Investment by 154.1% during the third quarter. GSA Capital Partners LLP now owns 96,732 shares of the insurance provider’s stock worth $2,476,000 after purchasing an additional 58,664 shares in the last quarter. Edgestream Partners L.P. boosted its position in shares of MGIC Investment by 153.9% during the 2nd quarter. Edgestream Partners L.P. now owns 244,980 shares of the insurance provider’s stock worth $5,279,000 after acquiring an additional 148,494 shares in the last quarter. Panagora Asset Management Inc. boosted its position in shares of MGIC Investment by 14.8% during the 2nd quarter. Panagora Asset Management Inc. now owns 505,155 shares of the insurance provider’s stock worth $10,886,000 after acquiring an additional 65,315 shares in the last quarter. Hancock Whitney Corp purchased a new position in shares of MGIC Investment in the 3rd quarter valued at about $777,000. Finally, Mackenzie Financial Corp raised its position in shares of MGIC Investment by 2.9% during the 2nd quarter. Mackenzie Financial Corp now owns 879,674 shares of the insurance provider’s stock worth $18,957,000 after acquiring an additional 24,627 shares in the last quarter. 95.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Royal Bank of Canada decreased their price objective on shares of MGIC Investment from $28.00 to $27.00 and set a “sector perform” rating for the company in a research note on Wednesday, November 6th. Barclays increased their price target on MGIC Investment from $23.00 to $24.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 8th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, MGIC Investment has an average rating of “Moderate Buy” and a consensus price target of $25.50.

MGIC Investment Trading Down 0.3 %

Shares of MGIC Investment stock opened at $25.94 on Wednesday. The company has a 50-day moving average of $25.28 and a two-hundred day moving average of $23.80. The stock has a market cap of $6.57 billion, a PE ratio of 9.13, a price-to-earnings-growth ratio of 1.86 and a beta of 1.27. MGIC Investment Co. has a 12-month low of $17.42 and a 12-month high of $26.56. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.12.

MGIC Investment (NYSE:MTG) last posted its earnings results on Monday, November 4th. The insurance provider reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.11. The company had revenue of $306.65 million for the quarter, compared to analyst estimates of $306.03 million. MGIC Investment had a return on equity of 14.99% and a net margin of 64.09%. MGIC Investment’s revenue was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.64 earnings per share. On average, research analysts anticipate that MGIC Investment Co. will post 2.85 EPS for the current fiscal year.

MGIC Investment Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date was Thursday, November 7th. MGIC Investment’s payout ratio is currently 18.31%.

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.