Donald Smith & CO. Inc. Decreases Stake in MGIC Investment Co. (NYSE:MTG)

Donald Smith & CO. Inc. trimmed its position in MGIC Investment Co. (NYSE:MTG) by 3.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,438,921 shares of the insurance provider’s stock after selling 128,826 shares during the period. MGIC Investment accounts for approximately 1.7% of Donald Smith & CO. Inc.’s investment portfolio, making the stock its 26th biggest holding. Donald Smith & CO. Inc.’s holdings in MGIC Investment were worth $66,337,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. LSV Asset Management increased its holdings in shares of MGIC Investment by 8.5% in the third quarter. LSV Asset Management now owns 10,427,565 shares of the insurance provider’s stock valued at $174,036,000 after purchasing an additional 820,182 shares during the period. AQR Capital Management LLC increased its holdings in MGIC Investment by 30.3% in the 3rd quarter. AQR Capital Management LLC now owns 4,233,477 shares of the insurance provider’s stock worth $70,657,000 after buying an additional 985,512 shares during the period. FMR LLC raised its position in MGIC Investment by 26.7% during the 3rd quarter. FMR LLC now owns 3,829,710 shares of the insurance provider’s stock worth $63,918,000 after buying an additional 807,637 shares during the last quarter. American Century Companies Inc. lifted its stake in MGIC Investment by 7.4% during the 3rd quarter. American Century Companies Inc. now owns 3,332,552 shares of the insurance provider’s stock valued at $55,620,000 after acquiring an additional 228,306 shares during the period. Finally, Invesco Ltd. boosted its holdings in shares of MGIC Investment by 47.3% in the 3rd quarter. Invesco Ltd. now owns 3,174,560 shares of the insurance provider’s stock valued at $52,983,000 after acquiring an additional 1,019,759 shares during the last quarter. Hedge funds and other institutional investors own 95.58% of the company’s stock.

MGIC Investment Price Performance

Shares of MGIC Investment stock traded up $0.08 on Monday, reaching $20.56. The company’s stock had a trading volume of 1,940,074 shares, compared to its average volume of 2,040,803. The stock has a 50-day moving average price of $20.45 and a 200-day moving average price of $19.15. MGIC Investment Co. has a 52-week low of $13.97 and a 52-week high of $22.43. The company has a market capitalization of $5.54 billion, a P/E ratio of 8.31, a PEG ratio of 1.69 and a beta of 1.24. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.13.

MGIC Investment (NYSE:MTG) last posted its quarterly earnings data on Wednesday, January 31st. The insurance provider reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.10. MGIC Investment had a net margin of 61.72% and a return on equity of 14.82%. The company had revenue of $284.72 million during the quarter, compared to analysts’ expectations of $302.96 million. Analysts expect that MGIC Investment Co. will post 2.43 EPS for the current year.

MGIC Investment Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 21st. Shareholders of record on Thursday, May 9th will be paid a dividend of $0.115 per share. The ex-dividend date is Wednesday, May 8th. This represents a $0.46 annualized dividend and a yield of 2.24%. MGIC Investment’s dividend payout ratio (DPR) is currently 18.47%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Roth Mkm boosted their target price on shares of MGIC Investment from $21.00 to $24.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Royal Bank of Canada upped their target price on MGIC Investment from $18.00 to $21.00 and gave the stock a “sector perform” rating in a research note on Friday, February 2nd. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $24.00 price target (up from $23.50) on shares of MGIC Investment in a research report on Thursday, April 4th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, MGIC Investment currently has an average rating of “Hold” and a consensus price target of $21.08.

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.