Ameritas Investment Partners Inc. Sells 1,141 Shares of MGIC Investment Co. (NYSE:MTG)

Ameritas Investment Partners Inc. decreased its position in MGIC Investment Co. (NYSE:MTG) by 1.9% during the 1st quarter, HoldingsChannel reports. The fund owned 60,089 shares of the insurance provider’s stock after selling 1,141 shares during the quarter. Ameritas Investment Partners Inc.’s holdings in MGIC Investment were worth $1,344,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Dimensional Fund Advisors LP raised its stake in shares of MGIC Investment by 4.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 14,412,645 shares of the insurance provider’s stock worth $278,023,000 after purchasing an additional 553,155 shares in the last quarter. First Trust Advisors LP raised its stake in shares of MGIC Investment by 3.6% during the 4th quarter. First Trust Advisors LP now owns 12,067,181 shares of the insurance provider’s stock worth $232,776,000 after purchasing an additional 415,628 shares in the last quarter. LSV Asset Management raised its stake in shares of MGIC Investment by 1.6% during the 1st quarter. LSV Asset Management now owns 10,983,325 shares of the insurance provider’s stock worth $245,587,000 after purchasing an additional 174,609 shares in the last quarter. Clearbridge Investments LLC raised its stake in shares of MGIC Investment by 2.1% during the 4th quarter. Clearbridge Investments LLC now owns 5,868,480 shares of the insurance provider’s stock worth $113,203,000 after purchasing an additional 121,828 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of MGIC Investment during the 4th quarter worth approximately $62,047,000. Institutional investors own 95.58% of the company’s stock.

MGIC Investment Price Performance

Shares of MTG stock traded down $0.15 on Wednesday, hitting $23.50. 916,669 shares of the company’s stock were exchanged, compared to its average volume of 1,862,010. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.05 and a quick ratio of 1.05. MGIC Investment Co. has a 12 month low of $16.30 and a 12 month high of $23.90. The stock has a market cap of $6.26 billion, a P/E ratio of 9.10, a price-to-earnings-growth ratio of 7.94 and a beta of 1.28. The company has a 50 day moving average of $21.46 and a 200 day moving average of $20.64.

MGIC Investment (NYSE:MTG) last announced its quarterly earnings data on Wednesday, May 1st. The insurance provider reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.05. The business had revenue of $294.40 million during the quarter, compared to the consensus estimate of $301.62 million. MGIC Investment had a return on equity of 15.00% and a net margin of 62.85%. MGIC Investment’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.54 EPS. On average, equities research analysts predict that MGIC Investment Co. will post 2.52 EPS for the current year.

MGIC Investment Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 21st. Shareholders of record on Thursday, May 9th were given a $0.115 dividend. The ex-dividend date was Wednesday, May 8th. This represents a $0.46 annualized dividend and a yield of 1.96%. MGIC Investment’s dividend payout ratio is presently 17.69%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on MTG shares. Keefe, Bruyette & Woods upgraded MGIC Investment from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $24.00 to $25.00 in a research note on Monday, June 3rd. Barclays upped their price objective on MGIC Investment from $20.00 to $21.00 and gave the company an “equal weight” rating in a report on Tuesday, July 9th. Finally, UBS Group increased their target price on MGIC Investment from $21.00 to $22.00 and gave the stock a “neutral” rating in a report on Wednesday, May 22nd. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, MGIC Investment has a consensus rating of “Hold” and an average target price of $22.17.

MGIC Investment 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.