Robeco Institutional Asset Management B.V. Has $37.86 Million Stake in MGIC Investment Corporation $MTG

Robeco Institutional Asset Management B.V. boosted its holdings in shares of MGIC Investment Corporation (NYSE:MTG) by 26.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,334,552 shares of the insurance provider’s stock after buying an additional 275,621 shares during the period. Robeco Institutional Asset Management B.V. owned about 0.58% of MGIC Investment worth $37,861,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. CWA Asset Management Group LLC lifted its holdings in shares of MGIC Investment by 13.9% during the 3rd quarter. CWA Asset Management Group LLC now owns 63,329 shares of the insurance provider’s stock worth $1,797,000 after acquiring an additional 7,708 shares during the period. Alpine Bank Wealth Management acquired a new position in MGIC Investment in the third quarter worth about $28,000. Gateway Investment Advisers LLC boosted its holdings in MGIC Investment by 31.0% during the third quarter. Gateway Investment Advisers LLC now owns 63,854 shares of the insurance provider’s stock valued at $1,812,000 after purchasing an additional 15,116 shares in the last quarter. True Wealth Design LLC grew its stake in shares of MGIC Investment by 140.2% in the 3rd quarter. True Wealth Design LLC now owns 2,412 shares of the insurance provider’s stock valued at $68,000 after purchasing an additional 1,408 shares during the period. Finally, Financial Consulate Inc. bought a new position in shares of MGIC Investment during the 3rd quarter worth approximately $135,000. Institutional investors own 95.58% of the company’s stock.

Insider Activity

In related news, COO Salvatore A. Miosi sold 30,000 shares of the firm’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $27.52, for a total value of $825,600.00. Following the transaction, the chief operating officer owned 159,401 shares in the company, valued at $4,386,715.52. This trade represents a 15.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Paula C. Maggio sold 20,000 shares of the company’s stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $27.44, for a total transaction of $548,800.00. Following the transaction, the executive vice president owned 117,395 shares in the company, valued at approximately $3,221,318.80. The trade was a 14.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.05% of the stock is owned by company insiders.

MGIC Investment Stock Down 0.8%

Shares of NYSE:MTG opened at $28.75 on Thursday. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.12. The firm has a market cap of $6.43 billion, a P/E ratio of 9.24, a P/E/G ratio of 1.61 and a beta of 0.84. MGIC Investment Corporation has a 12 month low of $21.94 and a 12 month high of $29.97. The company’s 50-day moving average price is $28.61 and its two-hundred day moving average price is $27.75.

MGIC Investment (NYSE:MTG) last released its quarterly earnings results on Wednesday, October 29th. The insurance provider reported $0.83 EPS for the quarter, beating the consensus estimate of $0.72 by $0.11. The business had revenue of $304.51 million for the quarter, compared to analysts’ expectations of $308.16 million. MGIC Investment had a net margin of 61.96% and a return on equity of 14.62%. During the same period in the prior year, the firm earned $0.77 earnings per share. MGIC Investment’s revenue was down .7% compared to the same quarter last year. As a group, research analysts forecast that MGIC Investment Corporation will post 2.71 EPS for the current fiscal year.

MGIC Investment Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Thursday, November 6th were given a dividend of $0.15 per share. The ex-dividend date was Thursday, November 6th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.1%. MGIC Investment’s payout ratio is presently 19.29%.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Weiss Ratings reiterated a “buy (a-)” rating on shares of MGIC Investment in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods increased their target price on shares of MGIC Investment from $27.00 to $28.00 and gave the stock a “market perform” rating in a research report on Thursday, December 18th. Finally, Barclays upped their price objective on shares of MGIC Investment from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, MGIC Investment presently has an average rating of “Hold” and an average price target of $28.00.

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.