MGIC Investment (NYSE:MTG) EVP Sells $550,200.00 in Stock

MGIC Investment Corporation (NYSE:MTG) EVP Paula Maggio sold 20,000 shares of MGIC Investment stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $27.51, for a total transaction of $550,200.00. Following the completion of the transaction, the executive vice president directly owned 114,689 shares of the company’s stock, valued at $3,155,094.39. This trade represents a 14.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

MGIC Investment Stock Performance

MTG traded down $0.71 on Monday, hitting $26.60. 1,987,951 shares of the company’s stock were exchanged, compared to its average volume of 2,491,991. The company has a current ratio of 0.78, a quick ratio of 1.48 and a debt-to-equity ratio of 0.13. The stock has a fifty day moving average of $28.09 and a two-hundred day moving average of $27.77. MGIC Investment Corporation has a twelve month low of $21.94 and a twelve month high of $29.97. The firm has a market cap of $5.95 billion, a PE ratio of 8.47, a P/E/G ratio of 2.17 and a beta of 0.83.

MGIC Investment (NYSE:MTG) last posted its earnings results on Monday, February 2nd. The insurance provider reported $0.75 EPS for the quarter, beating the consensus estimate of $0.73 by $0.02. The company had revenue of $298.65 million during the quarter, compared to analyst estimates of $308.19 million. MGIC Investment had a return on equity of 14.33% and a net margin of 60.84%.The business’s revenue was down .9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.72 earnings per share. On average, research analysts anticipate that MGIC Investment Corporation will post 2.71 earnings per share for the current fiscal year.

MGIC Investment Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Shareholders of record on Tuesday, February 17th will be given a $0.15 dividend. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $0.60 annualized dividend and a yield of 2.3%. MGIC Investment’s dividend payout ratio (DPR) is currently 19.11%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on MTG shares. Weiss Ratings cut shares of MGIC Investment from a “buy (a-)” rating to a “buy (b+)” rating in a report on Thursday. Keefe, Bruyette & Woods raised their price target on shares of MGIC Investment from $27.00 to $28.00 and gave the company a “market perform” rating in a research note on Thursday, December 18th. Finally, Barclays reduced their price objective on MGIC Investment from $30.00 to $28.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 4th. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $27.50.

Institutional Trading of MGIC Investment

A number of hedge funds and other institutional investors have recently modified their holdings of the company. True Wealth Design LLC grew its holdings in MGIC Investment by 262.5% during the second quarter. True Wealth Design LLC now owns 1,004 shares of the insurance provider’s stock worth $28,000 after acquiring an additional 727 shares during the period. Alpine Bank Wealth Management acquired a new position in shares of MGIC Investment in the 3rd quarter worth approximately $28,000. Newbridge Financial Services Group Inc. bought a new stake in shares of MGIC Investment in the 3rd quarter worth approximately $28,000. Hantz Financial Services Inc. lifted its stake in MGIC Investment by 3,067.6% during the second quarter. Hantz Financial Services Inc. now owns 1,077 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 1,043 shares during the last quarter. Finally, SBI Securities Co. Ltd. boosted its holdings in MGIC Investment by 61.1% during the third quarter. SBI Securities Co. Ltd. now owns 1,041 shares of the insurance provider’s stock worth $30,000 after buying an additional 395 shares in the last quarter. Institutional investors own 95.58% of the company’s stock.

About MGIC Investment

MGIC Investment Corporation (NYSE: MTG) is a leading provider of private mortgage insurance in the United States. Established in 1957 as the nation’s first private mortgage insurer, MGIC helps lenders manage credit risk and facilitates homeownership by protecting mortgage loans against default. Headquartered in Milwaukee, Wisconsin, the company operates through its principal subsidiary, Mortgage Guaranty Insurance Corporation, and maintains relationships with a broad network of originators and servicers nationwide.

The company’s primary business activity involves issuing mortgage insurance policies that enable borrowers to purchase homes with down payments below traditional lending thresholds.