share_log
Hi,
moomoo ID:0
Log Out
English
Back
  • English
  • 中文繁体
  • 中文简体

Amalgamated Bank Sells 11,800 Shares of MGIC Investment Co. (NYSE:MTG)

Defense World ·  09/24 18:21

Amalgamated Bank cut its position in shares of MGIC Investment Co. (NYSE:MTG – Get Rating) by 5.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 222,265 shares of the insurance provider's stock after selling 11,800 shares during the period. Amalgamated Bank owned approximately 0.07% of MGIC Investment worth $3,012,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Lazard Asset Management LLC purchased a new stake in MGIC Investment during the first quarter valued at approximately $26,000. Cyrus J. Lawrence LLC purchased a new stake in MGIC Investment during the first quarter valued at approximately $33,000. Quent Capital LLC purchased a new stake in MGIC Investment during the fourth quarter valued at approximately $49,000. Meeder Asset Management Inc. raised its position in MGIC Investment by 87,240.0% during the first quarter. Meeder Asset Management Inc. now owns 4,367 shares of the insurance provider's stock valued at $59,000 after purchasing an additional 4,362 shares during the period. Finally, Point72 Hong Kong Ltd purchased a new stake in MGIC Investment during the fourth quarter valued at approximately $71,000. 97.63% of the stock is owned by institutional investors.

Get MGIC Investment alerts:

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on MTG shares. Royal Bank of Canada upgraded MGIC Investment from a "sector perform" rating to an "outperform" rating and upped their price objective for the company from $15.00 to $16.00 in a research report on Thursday, June 23rd. StockNews.com upgraded MGIC Investment from a "hold" rating to a "buy" rating in a report on Friday, August 5th. Bank of America upgraded MGIC Investment from a "neutral" rating to a "buy" rating and set a $18.00 price target on the stock in a report on Thursday, August 18th. Finally, Credit Suisse Group increased their price target on MGIC Investment to $17.00 in a report on Monday, August 22nd. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, MGIC Investment presently has an average rating of "Moderate Buy" and an average price target of $18.33.

MGIC Investment Trading Down 1.6 %

MTG opened at $13.19 on Friday. The stock's fifty day moving average is $14.30 and its two-hundred day moving average is $13.64. The company has a market capitalization of $4.00 billion, a P/E ratio of 5.69, a PEG ratio of 1.10 and a beta of 1.44. MGIC Investment Co. has a 52 week low of $11.38 and a 52 week high of $16.84. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.20.

MGIC Investment Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 25th. Shareholders of record on Thursday, August 11th were issued a dividend of $0.10 per share. This is an increase from MGIC Investment's previous quarterly dividend of $0.08. This represents a $0.40 annualized dividend and a yield of 3.03%. The ex-dividend date of this dividend was Wednesday, August 10th. MGIC Investment's dividend payout ratio (DPR) is presently 17.24%.

About MGIC Investment

(Get Rating)

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, 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.

Recommended Stories

  • Get a free copy of the StockNews.com research report on MGIC Investment (MTG)
  • MarketBeat: Week in Review 9/19 – 9/23
  • Why Does Tesla Stock Remain Resilient?
  • Are Layoffs At A Small-Cap Tech A Bellwether For Housing Stocks?
  • Is Costco's Post-Earnings Price Weakness A Good Time To Buy?
  • 2 Semiconductor Stocks To Watch For Reversals

Want to see what other hedge funds are holding MTG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MGIC Investment Co. (NYSE:MTG – Get Rating).

Receive News & Ratings for MGIC Investment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MGIC Investment and related companies with MarketBeat.com's FREE daily email newsletter.

This presentation is for informational and educational use only and is not a recommendation or endorsement of any particular investment or investment strategy. Investment information provided in this content is general in nature, strictly for illustrative purposes, and may not be appropriate for all investors. It is provided without respect to individual investors’ financial sophistication, financial situation, investment objectives, investing time horizon, or risk tolerance. You should consider the appropriateness of this information having regard to your relevant personal circumstances before making any investment decisions. Past investment performance does not indicate or guarantee future success. Returns will vary, and all investments carry risks, including loss of principal. Moomoo makes no representation or warranty as to its adequacy, completeness, accuracy or timeliness for any particular purpose of the above content.

Moomoo is a financial information and trading app offered by Moomoo Technologies Inc.
In the U.S., investment products and services available through the moomoo app are offered by Moomoo Financial Inc., a broker-dealer registered with the U.S. Securities and Exchange Commission (SEC) and a member of Financial Industry Regulatory Authority (FINRA)/Securities Investor Protection Corporation (SIPC).
In Singapore, investment products and services available through the moomoo app are offered through Moomoo Financial Singapore Pte. Ltd. regulated by the Monetary Authority of Singapore (MAS). Moomoo Financial Singapore Pte. Ltd. is a Capital Markets Services Licence (License No. CMS101000) holder with the Exempt Financial Adviser Status. This advertisement has not been reviewed by the Monetary Authority of Singapore.
In Australia, financial products and services available through the moomoo app are provided by Futu Securities (Australia) Ltd, an Australian Financial Services Licensee (AFSL No. 224663) regulated by the Australian Securities and Investment Commission (ASIC). Please read and understand our Financial Services Guide, Terms and Conditions, Privacy Policy and other disclosure documents which are available on our websites https://www.futuau.com and https://www.moomoo.com/au. Moomoo Technologies Inc., Moomoo Financial Inc., Moomoo Financial Singapore Pte. Ltd. and Futu Securities (Australia) Ltd are affiliated companies.