MGIC Investment Co. (NYSE:MTG) Shares Sold by Jane Street Group LLC

Jane Street Group LLC lessened its position in shares of MGIC Investment Co. (NYSE:MTG - Free Report) by 93.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,915 shares of the insurance provider's stock after selling 350,654 shares during the quarter. Jane Street Group LLC's holdings in MGIC Investment were worth $543,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC raised its position in MGIC Investment by 21.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,336 shares of the insurance provider's stock valued at $55,000 after purchasing an additional 419 shares during the period. Xponance Inc. increased its position in shares of MGIC Investment by 1.3% during the 4th quarter. Xponance Inc. now owns 35,320 shares of the insurance provider's stock valued at $837,000 after purchasing an additional 442 shares during the last quarter. Nations Financial Group Inc. IA ADV raised its holdings in MGIC Investment by 1.6% during the 4th quarter. Nations Financial Group Inc. IA ADV now owns 37,821 shares of the insurance provider's stock valued at $897,000 after buying an additional 579 shares during the period. US Bancorp DE raised its holdings in MGIC Investment by 6.2% during the 4th quarter. US Bancorp DE now owns 10,249 shares of the insurance provider's stock valued at $243,000 after buying an additional 600 shares during the period. Finally, PNC Financial Services Group Inc. increased its position in MGIC Investment by 6.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 10,457 shares of the insurance provider's stock valued at $248,000 after acquiring an additional 608 shares during the last quarter. Institutional investors own 95.58% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on MTG shares. Compass Point reaffirmed a "neutral" rating and set a $28.00 price target (up from $27.00) on shares of MGIC Investment in a research note on Friday, May 23rd. Keefe, Bruyette & Woods cut their target price on MGIC Investment from $28.00 to $26.00 and set a "market perform" rating on the stock in a research note on Tuesday, April 8th. UBS Group increased their target price on MGIC Investment from $25.00 to $26.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 19th. Finally, Barclays upped their price target on shares of MGIC Investment from $25.00 to $26.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, MGIC Investment currently has an average rating of "Hold" and an average price target of $26.63.

MGIC Investment Stock Down 0.3%

MGIC Investment stock traded down $0.07 during mid-day trading on Friday, reaching $26.45. 1,976,950 shares of the company were exchanged, compared to its average volume of 1,804,104. MGIC Investment Co. has a 12-month low of $20.35 and a 12-month high of $26.92. The business has a fifty day moving average of $25.01 and a 200 day moving average of $24.62. The firm has a market cap of $6.28 billion, a P/E ratio of 9.12 and a beta of 0.91. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.25 and a current ratio of 0.48.

MGIC Investment (NYSE:MTG - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The insurance provider reported $0.75 earnings per share for the quarter, beating analysts' consensus estimates of $0.66 by $0.09. The company had revenue of $306.23 million for the quarter, compared to the consensus estimate of $306.66 million. MGIC Investment had a return on equity of 14.86% and a net margin of 63.18%. The firm's revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.65 earnings per share. Research analysts anticipate that MGIC Investment Co. will post 2.71 earnings per share for the current fiscal year.

MGIC Investment Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 21st. Stockholders of record on Thursday, May 8th were given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date was Thursday, May 8th. MGIC Investment's payout ratio is currently 17.28%.

MGIC Investment announced that its board has approved a share buyback plan on Thursday, April 24th that permits the company to buyback $750.00 million in shares. This buyback authorization permits the insurance provider to reacquire up to 12.5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's leadership believes its stock is undervalued.

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.