O Shaughnessy Asset Management LLC Purchases 47,277 Shares of MGIC Investment Corporation $MTG

O Shaughnessy Asset Management LLC grew its stake in shares of MGIC Investment Corporation (NYSE:MTG) by 18.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 308,969 shares of the insurance provider’s stock after buying an additional 47,277 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in MGIC Investment were worth $9,028,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Syon Capital LLC raised its position in shares of MGIC Investment by 77.1% during the 4th quarter. Syon Capital LLC now owns 35,120 shares of the insurance provider’s stock valued at $1,026,000 after buying an additional 15,287 shares in the last quarter. Parallel Advisors LLC raised its position in shares of MGIC Investment by 9.8% during the 4th quarter. Parallel Advisors LLC now owns 10,397 shares of the insurance provider’s stock valued at $304,000 after buying an additional 930 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its position in shares of MGIC Investment by 13.4% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 129,000 shares of the insurance provider’s stock valued at $3,768,000 after buying an additional 15,200 shares in the last quarter. Vise Technologies Inc. raised its position in shares of MGIC Investment by 108.9% during the 4th quarter. Vise Technologies Inc. now owns 15,288 shares of the insurance provider’s stock valued at $447,000 after buying an additional 7,971 shares in the last quarter. Finally, Sivia Capital Partners LLC raised its position in shares of MGIC Investment by 89.2% during the 4th quarter. Sivia Capital Partners LLC now owns 22,660 shares of the insurance provider’s stock valued at $662,000 after buying an additional 10,684 shares in the last quarter. Hedge funds and other institutional investors own 95.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MTG. Keefe, Bruyette & Woods raised their price objective on shares of MGIC Investment from $28.00 to $29.00 and gave the company a “market perform” rating in a research report on Friday, April 10th. Royal Bank Of Canada began coverage on shares of MGIC Investment in a research report on Friday, May 22nd. They set a “sector perform” rating and a $28.00 price objective on the stock. UBS Group lowered their price objective on shares of 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, Barclays reduced their target price on shares of MGIC Investment from $29.00 to $28.00 and set an “equal weight” rating on the stock in a report on Friday, May 1st. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, MGIC Investment currently has an average rating of “Hold” and a consensus price target of $28.25.

MGIC Investment Price Performance

MTG stock opened at $25.80 on Thursday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.14 and a current ratio of 1.14. MGIC Investment Corporation has a 52 week low of $24.69 and a 52 week high of $29.97. The firm’s fifty day moving average is $26.64 and its 200 day moving average is $27.16. The firm has a market cap of $5.46 billion, a P/E ratio of 8.19, a P/E/G ratio of 1.76 and a beta of 0.68.

MGIC Investment (NYSE:MTG) last released its earnings results on Wednesday, April 29th. The insurance provider reported $0.76 EPS for the quarter, beating the consensus estimate of $0.73 by $0.03. MGIC Investment had a net margin of 59.63% and a return on equity of 14.01%. The company had revenue of $297.08 million for the quarter, compared to analyst estimates of $303.12 million. During the same quarter last year, the firm earned $0.75 EPS. The firm’s quarterly revenue was down 3.0% compared to the same quarter last year. Research analysts predict that MGIC Investment Corporation will post 3.06 earnings per share for the current year.

MGIC Investment Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Wednesday, May 6th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, May 6th. This represents a $0.60 annualized dividend and a yield of 2.3%. MGIC Investment’s dividend payout ratio is presently 19.05%.

MGIC Investment announced that its Board of Directors has authorized a stock buyback plan on Thursday, April 23rd that permits the company to buyback $750.00 million in shares. This buyback authorization permits the insurance provider to buy up to 12.4% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at MGIC Investment

In other MGIC Investment news, CEO Timothy J. Mattke sold 139,202 shares of the stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $26.49, for a total transaction of $3,687,460.98. Following the completion of the sale, the chief executive officer owned 1,118,005 shares of the company’s stock, valued at $29,615,952.45. This represents a 11.07% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Paula C. Maggio sold 20,937 shares of the stock in a transaction on Friday, May 29th. The shares were sold at an average price of $25.55, for a total transaction of $534,940.35. Following the sale, the executive vice president directly owned 169,620 shares of the company’s stock, valued at $4,333,791. The trade was a 10.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 201,070 shares of company stock valued at $5,270,740 in the last quarter. Company insiders own 1.34% 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.