836,954 Shares in MGIC Investment Corporation $MTG Purchased by Arbejdsmarkedets Tillaegspension

Arbejdsmarkedets Tillaegspension bought a new position in shares of MGIC Investment Corporation (NYSE:MTG) during the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 836,954 shares of the insurance provider’s stock, valued at approximately $24,456,000. MGIC Investment comprises 0.6% of Arbejdsmarkedets Tillaegspension’s investment portfolio, making the stock its 24th biggest position.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Newbridge Financial Services Group Inc. purchased a new position in MGIC Investment during the third quarter worth approximately $28,000. SBI Securities Co. Ltd. boosted its position 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 purchasing an additional 395 shares in the last quarter. V Square Quantitative Management LLC purchased a new position in MGIC Investment during the fourth quarter worth approximately $36,000. Root Financial Partners LLC purchased a new position in MGIC Investment during the third quarter worth approximately $38,000. Finally, Whittier Trust Co. of Nevada Inc. boosted its position in MGIC Investment by 58.0% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,365 shares of the insurance provider’s stock worth $38,000 after purchasing an additional 501 shares in the last quarter. 95.58% of the stock is owned by institutional investors and hedge funds.

MGIC Investment Stock Performance

Shares of MGIC Investment stock opened at $25.91 on Friday. MGIC Investment Corporation has a one year low of $24.77 and a one year high of $29.97. The company has a market cap of $5.48 billion, a price-to-earnings ratio of 8.22, a PEG ratio of 1.57 and a beta of 0.71. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.14 and a current ratio of 1.14. The business’s 50 day moving average price is $26.82 and its 200 day moving average price is $27.44.

MGIC Investment (NYSE:MTG) last announced its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.03. MGIC Investment had a return on equity of 14.01% and a net margin of 59.63%.The firm had revenue of $297.08 million for the quarter, compared to the consensus estimate of $303.12 million. During the same quarter last year, the business posted $0.75 earnings per share. The firm’s revenue was down 3.0% compared to the same quarter last year. On average, research analysts predict that MGIC Investment Corporation will post 3.07 EPS for the current year.

MGIC Investment Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 21st. Investors of record on Wednesday, May 6th will be given a dividend of $0.15 per share. The ex-dividend date is Wednesday, May 6th. This represents a $0.60 dividend on an annualized basis and a yield of 2.3%. MGIC Investment’s dividend payout ratio (DPR) is presently 19.05%.

MGIC Investment announced that its board has initiated a stock repurchase program on Thursday, April 23rd that allows the company to buyback $750.00 million in shares. This buyback authorization allows the insurance provider to buy up to 12.4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

A number of equities analysts have issued reports on MTG shares. Barclays lowered their price target on MGIC Investment from $29.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Friday, May 1st. Weiss Ratings downgraded MGIC Investment from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Thursday, February 5th. UBS Group lowered their price target on MGIC Investment from $29.50 to $28.00 and set a “neutral” rating on the stock in a research report on Thursday, March 12th. Finally, Keefe, Bruyette & Woods increased their price target on MGIC Investment from $28.00 to $29.00 and gave the stock a “market perform” rating in a research report on Friday, April 10th. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $28.25.

Insider Buying and Selling

In related news, COO Salvatore A. Miosi sold 10,931 shares of MGIC Investment stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $26.25, for a total transaction of $286,938.75. Following the transaction, the chief operating officer owned 590,951 shares in the company, valued at approximately $15,512,463.75. This trade represents a 1.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Timothy J. Mattke sold 139,202 shares of the firm’s stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $26.49, for a total value of $3,687,460.98. Following the sale, the chief executive officer directly owned 1,118,005 shares of the company’s stock, valued at approximately $29,615,952.45. This trade represents a 11.07% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.34% of the company’s stock.

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.