Wealth Enhancement Advisory Services LLC Has $46.95 Million Stake in MGIC Investment Corporation $MTG

Wealth Enhancement Advisory Services LLC grew its stake in shares of MGIC Investment Corporation (NYSE:MTG) by 2.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,621,230 shares of the insurance provider’s stock after buying an additional 45,267 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in MGIC Investment were worth $46,950,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of MGIC Investment in the 1st quarter valued at approximately $2,397,000. Goldman Sachs Group Inc. grew its holdings in MGIC Investment by 6.7% during the first quarter. Goldman Sachs Group Inc. now owns 3,103,366 shares of the insurance provider’s stock valued at $76,901,000 after purchasing an additional 195,895 shares during the period. Geneos Wealth Management Inc. increased its stake in MGIC Investment by 88.0% in the first quarter. Geneos Wealth Management Inc. now owns 1,745 shares of the insurance provider’s stock valued at $43,000 after purchasing an additional 817 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in MGIC Investment in the second quarter valued at approximately $425,000. Finally, Creative Planning raised its holdings in MGIC Investment by 51.3% in the second quarter. Creative Planning now owns 36,131 shares of the insurance provider’s stock worth $1,006,000 after purchasing an additional 12,249 shares during the period. 95.58% of the stock is currently owned by institutional investors and hedge funds.

MGIC Investment Stock Up 0.8%

MGIC Investment stock opened at $25.88 on Tuesday. The company has a 50 day moving average of $26.50 and a 200-day moving average of $27.62. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.13. MGIC Investment Corporation has a twelve month low of $21.94 and a twelve month high of $29.97. The stock has a market capitalization of $5.56 billion, a PE ratio of 8.24, a price-to-earnings-growth ratio of 2.04 and a beta of 0.83.

MGIC Investment (NYSE:MTG) last issued its quarterly earnings data on Monday, February 2nd. The insurance provider reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.02. MGIC Investment had a net margin of 60.84% and a return on equity of 14.33%. The company’s revenue for the quarter was down .9% on a year-over-year basis. During the same quarter last year, the business earned $0.72 EPS. On average, equities research analysts anticipate that MGIC Investment Corporation will post 2.71 EPS for the current fiscal year.

MGIC Investment Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 6th. Shareholders of record on Tuesday, February 17th were paid a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, February 17th. This represents a $0.60 annualized dividend and a dividend yield of 2.3%. MGIC Investment’s dividend payout ratio (DPR) is currently 19.11%.

Insider Activity

In related news, EVP Paula C. Maggio sold 20,000 shares of the stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $27.51, for a total transaction of $550,200.00. Following the completion of the transaction, the executive vice president directly owned 114,689 shares in the company, valued at approximately $3,155,094.39. This trade represents a 14.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Timothy J. Mattke sold 139,203 shares of MGIC Investment stock in a transaction that occurred 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 completion of the sale, the chief executive officer directly owned 822,588 shares in the company, valued at approximately $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 worth $5,058,572 over the last three months. Corporate insiders own 1.41% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Barclays reduced their price target on shares of MGIC Investment from $30.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 4th. UBS Group dropped their price objective on MGIC Investment from $29.50 to $28.00 and set a “neutral” rating on the stock in a research note on Thursday, March 12th. Weiss Ratings lowered MGIC Investment from a “buy (a-)” rating to a “buy (b+)” rating in a report on Thursday, February 5th. Finally, Keefe, Bruyette & Woods boosted their target price on MGIC Investment from $27.00 to $28.00 and gave the company a “market perform” rating in a research note on Thursday, December 18th. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price 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.