Tudor Investment Corp ET AL Has $10.62 Million Stock Holdings in MGIC Investment Co. (NYSE:MTG)

Tudor Investment Corp ET AL trimmed its stake in MGIC Investment Co. (NYSE:MTG - Free Report) by 42.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 447,933 shares of the insurance provider's stock after selling 326,751 shares during the period. Tudor Investment Corp ET AL owned 0.18% of MGIC Investment worth $10,620,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MTG. UMB Bank n.a. raised its position in shares of MGIC Investment by 131.9% in the fourth quarter. UMB Bank n.a. now owns 1,649 shares of the insurance provider's stock valued at $39,000 after purchasing an additional 938 shares during the period. Venturi Wealth Management LLC raised its holdings in MGIC Investment by 102.1% in the 4th quarter. Venturi Wealth Management LLC now owns 1,817 shares of the insurance provider's stock worth $43,000 after acquiring an additional 918 shares during the period. V Square Quantitative Management LLC lifted its position in MGIC Investment by 61.9% during the 4th quarter. V Square Quantitative Management LLC now owns 2,077 shares of the insurance provider's stock worth $49,000 after acquiring an additional 794 shares during the last quarter. Physician Wealth Advisors Inc. acquired a new position in MGIC Investment during the 4th quarter worth $54,000. Finally, EverSource Wealth Advisors LLC boosted its holdings 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 acquiring an additional 419 shares during the period. 95.58% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently weighed in on MTG shares. Compass Point reissued a "neutral" rating and set a $27.00 price objective (up previously from $24.00) on shares of MGIC Investment in a research report on Wednesday, February 5th. Keefe, Bruyette & Woods cut their price target on MGIC Investment from $28.00 to $26.00 and set a "market perform" rating for the company in a report on Tuesday, April 8th. Barclays raised their price objective on shares of MGIC Investment from $25.00 to $26.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 5th. Finally, UBS Group upped their target price on shares of MGIC Investment from $25.00 to $26.00 and gave the company a "neutral" rating in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $26.50.

Insider Buying and Selling

In other news, CAO Julie K. Sperber sold 4,600 shares of the firm's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $24.55, for a total value of $112,930.00. Following the transaction, the chief accounting officer now owns 75,070 shares of the company's stock, valued at approximately $1,842,968.50. This trade represents a 5.77 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.05% of the stock is owned by corporate insiders.

MGIC Investment Stock Performance

Shares of NYSE MTG traded up $0.78 during trading hours on Friday, reaching $26.09. The stock had a trading volume of 2,048,805 shares, compared to its average volume of 1,801,957. MGIC Investment Co. has a twelve month low of $20.11 and a twelve month high of $26.56. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.48 and a quick ratio of 1.25. The business's fifty day moving average is $23.95 and its two-hundred day moving average is $24.42. The company has a market cap of $6.33 billion, a price-to-earnings ratio of 9.00 and a beta of 0.93.

MGIC Investment (NYSE:MTG - Get Free Report) last issued its earnings results on Wednesday, April 30th. The insurance provider reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.09. The business had revenue of $306.23 million for the quarter, compared to analyst estimates of $306.66 million. MGIC Investment had a net margin of 63.18% and a return on equity of 14.86%. The firm's revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.65 EPS. As a group, research analysts expect that MGIC Investment Co. will post 2.71 EPS for the current year.

MGIC Investment Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 21st. Investors of record on Thursday, May 8th will be given a dividend of $0.13 per share. The ex-dividend date is Thursday, May 8th. This represents a $0.52 annualized dividend and a dividend yield of 1.99%. MGIC Investment's dividend payout ratio (DPR) is presently 17.28%.

MGIC Investment announced that its board has approved a share repurchase program on Thursday, April 24th that allows the company to buyback $750.00 million in shares. This buyback authorization allows the insurance provider to reacquire up to 12.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its shares are 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.