Inscription Capital LLC Invests $746,000 in MGIC Investment Corporation $MTG

Inscription Capital LLC bought a new stake in MGIC Investment Corporation (NYSE:MTG) in the third quarter, HoldingsChannel.com reports. The institutional investor bought 26,298 shares of the insurance provider’s stock, valued at approximately $746,000.

Several other institutional investors also recently bought and sold shares of the stock. Norges Bank bought a new stake in MGIC Investment in the second quarter valued at approximately $95,857,000. AQR Capital Management LLC increased its stake in shares of MGIC Investment by 92.4% in the second quarter. AQR Capital Management LLC now owns 6,333,091 shares of the insurance provider’s stock worth $176,313,000 after buying an additional 3,041,446 shares during the period. First Trust Advisors LP raised its holdings in MGIC Investment by 48.1% during the 2nd quarter. First Trust Advisors LP now owns 7,302,263 shares of the insurance provider’s stock valued at $203,295,000 after buying an additional 2,370,403 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in MGIC Investment by 13.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 18,331,120 shares of the insurance provider’s stock valued at $510,338,000 after buying an additional 2,168,940 shares during the last quarter. Finally, Allianz Asset Management GmbH boosted its position in MGIC Investment by 40.6% during the 2nd quarter. Allianz Asset Management GmbH now owns 5,398,356 shares of the insurance provider’s stock valued at $150,290,000 after buying an additional 1,557,970 shares during the period. 95.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Barclays boosted their price objective on shares of MGIC Investment from $28.00 to $30.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 6th. Keefe, Bruyette & Woods boosted their price target on MGIC Investment from $27.00 to $28.00 and gave the company a “market perform” rating in a report on Thursday, December 18th. Finally, Weiss Ratings reiterated a “buy (a-)” rating on shares of MGIC Investment in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $28.00.

MGIC Investment Price Performance

Shares of NYSE MTG opened at $26.68 on Thursday. MGIC Investment Corporation has a 1 year low of $21.94 and a 1 year high of $29.97. The stock has a market capitalization of $5.97 billion, a P/E ratio of 8.58, a P/E/G ratio of 1.46 and a beta of 0.84. The company’s 50-day moving average is $28.42 and its 200 day moving average is $27.68. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.48 and a quick ratio of 1.48.

MGIC Investment (NYSE:MTG) last posted its quarterly earnings data on Wednesday, October 29th. The insurance provider reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.11. MGIC Investment had a return on equity of 14.62% and a net margin of 61.96%.The business had revenue of $304.51 million for the quarter, compared to analysts’ expectations of $308.16 million. During the same period in the previous year, the firm posted $0.77 EPS. The business’s revenue was down .7% on a year-over-year basis. On average, sell-side analysts expect that MGIC Investment Corporation will post 2.71 earnings per share for the current year.

Insider Buying and Selling

In other MGIC Investment news, EVP Paula C. Maggio sold 20,000 shares of the stock in a transaction on Friday, October 31st. The stock was sold at an average price of $27.44, for a total value of $548,800.00. Following the completion of the transaction, the executive vice president owned 117,395 shares in the company, valued at approximately $3,221,318.80. This represents a 14.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Timothy J. Mattke sold 139,203 shares of the firm’s stock in a transaction on Tuesday, January 13th. The shares were sold at an average price of $26.51, for a total value of $3,690,271.53. Following the transaction, the chief executive officer directly owned 822,588 shares of the company’s stock, valued at $21,806,807.88. This represents a 14.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 189,203 shares of company stock valued at $5,064,672 over the last ninety days. Company insiders own 1.05% of the company’s stock.

MGIC Investment 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.