United Capital Financial Advisors LLC Purchases Shares of 19,028 MGIC Investment Corporation $MTG

United Capital Financial Advisors LLC acquired a new position in MGIC Investment Corporation (NYSE:MTG) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 19,028 shares of the insurance provider’s stock, valued at approximately $537,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of MTG. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in MGIC Investment during the first quarter worth about $2,397,000. Goldman Sachs Group Inc. lifted its holdings in MGIC Investment by 6.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,103,366 shares of the insurance provider’s stock valued at $76,901,000 after acquiring an additional 195,895 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings in MGIC Investment by 88.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,745 shares of the insurance provider’s stock valued at $43,000 after acquiring an additional 817 shares during the last quarter. Sivia Capital Partners LLC bought a new position in shares of MGIC Investment during the 2nd quarter valued at about $425,000. Finally, Northwestern Mutual Wealth Management Co. grew its stake in shares of MGIC Investment by 18.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,211 shares of the insurance provider’s stock worth $145,000 after purchasing an additional 830 shares during the last quarter. Institutional investors own 95.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on MTG. Weiss Ratings upgraded shares of MGIC Investment from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday, August 19th. Keefe, Bruyette & Woods increased their price target on MGIC Investment from $29.00 to $30.00 and gave the company a “market perform” rating in a research report on Friday, July 31st. Royal Bank Of Canada lifted their price objective on shares of MGIC Investment from $28.00 to $32.00 and gave the stock a “sector perform” rating in a research report on Friday, July 31st. Zacks Research raised MGIC Investment from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 25th. Finally, Roth Capital reaffirmed a “buy” rating and issued a $35.00 price target on shares of MGIC Investment in a research note on Thursday, July 30th. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $30.60.

Insider Transactions at MGIC Investment

In other news, EVP Paula C. Maggio sold 20,000 shares of MGIC Investment stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $30.30, for a total value of $606,000.00. Following the transaction, the executive vice president directly owned 149,620 shares in the company, valued at approximately $4,533,486. The trade was a 11.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Salvatore A. Miosi sold 30,000 shares of the stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $25.38, for a total value of $761,400.00. Following the sale, the chief operating officer owned 560,951 shares of the company’s stock, valued at approximately $14,236,936.38. The trade was a 5.08% 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. Insiders own 1.34% of the company’s stock.

MGIC Investment Trading Down 1.1%

NYSE:MTG opened at $30.66 on Tuesday. The company’s 50 day moving average is $29.60 and its 200-day moving average is $27.58. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.13. MGIC Investment Corporation has a 12 month low of $24.69 and a 12 month high of $31.89. The firm has a market cap of $6.29 billion, a price-to-earnings ratio of 9.58, a P/E/G ratio of 0.79 and a beta of 0.66.

MGIC Investment (NYSE:MTG) last posted its quarterly earnings data on Wednesday, July 29th. The insurance provider reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.11. The business had revenue of $295.39 million during the quarter, compared to the consensus estimate of $297.54 million. MGIC Investment had a net margin of 59.20% and a return on equity of 13.90%. MGIC Investment’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.82 EPS. Equities analysts anticipate that MGIC Investment Corporation will post 3.24 EPS for the current year.

MGIC Investment Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Wednesday, August 5th were given a $0.17 dividend. This is an increase from MGIC Investment’s previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend was Wednesday, August 5th. MGIC Investment’s dividend payout ratio (DPR) is 21.25%.

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.