Salvatore Miosi Sells 10,931 Shares of MGIC Investment (NYSE:MTG) Stock

MGIC Investment Corporation (NYSE:MTG) COO Salvatore Miosi sold 10,931 shares of the firm’s stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $26.25, for a total transaction of $286,938.75. Following the completion of the transaction, the chief operating officer directly owned 590,951 shares of the company’s stock, valued at $15,512,463.75. This represents a 1.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

MGIC Investment Stock Down 0.1%

MGIC Investment stock opened at $26.50 on Friday. MGIC Investment Corporation has a twelve month low of $21.94 and a twelve month high of $29.97. The stock’s fifty day simple moving average is $26.47 and its 200-day simple moving average is $27.49. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $5.70 billion, a P/E ratio of 8.44, a P/E/G ratio of 2.11 and a beta of 0.79.

MGIC Investment (NYSE:MTG) last released its earnings results on Monday, February 2nd. The insurance provider reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.02. MGIC Investment had a return on equity of 14.33% and a net margin of 60.84%.During the same period last year, the firm earned $0.72 earnings per share. The business’s revenue for the quarter was down .9% on a year-over-year basis. As a group, equities analysts expect that MGIC Investment Corporation will post 2.71 earnings per share for the current fiscal year.

MGIC Investment Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 6th. Stockholders of record on Tuesday, February 17th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Tuesday, February 17th. MGIC Investment’s dividend payout ratio (DPR) is presently 19.11%.

Institutional Investors Weigh In On MGIC Investment

Institutional investors have recently added to or reduced their stakes in the business. Alps Advisors Inc. lifted its position in shares of MGIC Investment by 60.6% during the 3rd quarter. Alps Advisors Inc. now owns 701,943 shares of the insurance provider’s stock worth $19,914,000 after buying an additional 264,968 shares during the last quarter. Lingohr Asset Management GmbH grew its position in shares of MGIC Investment by 1,625.5% in the 3rd quarter. Lingohr Asset Management GmbH now owns 233,534 shares of the insurance provider’s stock valued at $6,625,000 after buying an additional 220,000 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in MGIC Investment by 17.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 472,083 shares of the insurance provider’s stock worth $13,393,000 after acquiring an additional 71,474 shares in the last quarter. Tudor Investment Corp ET AL lifted its position in MGIC Investment by 106.1% in the third quarter. Tudor Investment Corp ET AL now owns 687,445 shares of the insurance provider’s stock valued at $19,503,000 after acquiring an additional 353,935 shares during the last quarter. Finally, Moody Aldrich Partners LLC purchased a new stake in MGIC Investment in the third quarter valued at $4,648,000. Hedge funds and other institutional investors own 95.58% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on MTG shares. UBS Group reduced their target price on shares of MGIC Investment from $29.50 to $28.00 and set a “neutral” rating on the stock in a report on Thursday, March 12th. Keefe, Bruyette & Woods increased their price objective on shares of MGIC Investment from $27.00 to $28.00 and gave the company a “market perform” rating in a research report on Thursday, December 18th. Weiss Ratings lowered shares of MGIC Investment from a “buy (a-)” rating to a “buy (b+)” rating in a report on Thursday, February 5th. Finally, Barclays decreased their price objective on shares of 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 analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, MGIC Investment presently has a consensus rating of “Hold” and an average target price of $28.00.

MGIC Investment Company Profile

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.