MGIC Investment Corporation $MTG Stock Bought by Vise Technologies Inc.

Vise Technologies Inc. lifted its holdings in MGIC Investment Corporation (NYSE:MTG) by 99.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 137,040 shares of the insurance provider’s stock after purchasing an additional 68,275 shares during the period. Vise Technologies Inc. owned about 0.07% of MGIC Investment worth $3,541,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Elevation Wealth Partners LLC lifted its stake in MGIC Investment by 345.6% during the third quarter. Elevation Wealth Partners LLC now owns 1,123 shares of the insurance provider’s stock valued at $29,000 after purchasing an additional 871 shares during the last quarter. V Square Quantitative Management LLC grew its position in MGIC Investment by 91.2% in the third quarter. V Square Quantitative Management LLC now owns 1,363 shares of the insurance provider’s stock worth $35,000 after buying an additional 650 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in MGIC Investment in the second quarter worth approximately $62,000. Harbor Investment Advisory LLC grew its position in MGIC Investment by 613.0% in the second quarter. Harbor Investment Advisory LLC now owns 2,574 shares of the insurance provider’s stock worth $73,000 after buying an additional 2,213 shares during the last quarter. Finally, Root Financial Partners LLC bought a new position in shares of MGIC Investment in the third quarter valued at $76,000. 95.58% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other MGIC Investment news, CEO Timothy J. Mattke sold 137,114 shares of the business’s stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $26.23, for a total transaction of $3,596,500.22. Following the sale, the chief executive officer directly owned 843,778 shares of the company’s stock, valued at $22,132,296.94. The trade was a 13.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Paula C. Maggio sold 20,000 shares of the business’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $30.30, for a total transaction of $606,000.00. Following the sale, the executive vice president directly owned 149,620 shares in the company, valued at approximately $4,533,486. This trade represents a 11.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 217,114 shares of company stock valued at $5,906,200. Company insiders own 1.34% of the company’s stock.

MGIC Investment Stock Performance

MGIC Investment stock opened at $28.65 on Wednesday. The firm’s 50 day simple moving average is $28.94 and its 200-day simple moving average is $27.77. The company has a market cap of $5.88 billion, a P/E ratio of 9.02, a price-to-earnings-growth ratio of 1.03 and a beta of 0.64. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.19 and a quick ratio of 1.19. MGIC Investment Corporation has a fifty-two week low of $24.69 and a fifty-two week high of $31.89.

MGIC Investment Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 23rd. Investors of record on Thursday, November 12th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Thursday, November 12th. This represents a $0.68 dividend on an annualized basis and a yield of 2.4%. MGIC Investment’s dividend payout ratio (DPR) is currently 21.25%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on MTG. Weiss Ratings upgraded MGIC Investment from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday, August 19th. Royal Bank Of Canada raised their price objective on MGIC Investment from $28.00 to $32.00 and gave the stock a “sector perform” rating in a research note on Friday, July 31st. Keefe, Bruyette & Woods lifted their target price on MGIC Investment from $29.00 to $30.00 and gave the stock a “market perform” rating in a report on Friday, July 31st. Barclays boosted their target price on MGIC Investment from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Monday, October 5th. Finally, Roth Capital reaffirmed a “buy” rating and set a $35.00 target price on shares of MGIC Investment in a report on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $30.80.

MGIC Investment Company Profile

MGIC Investment Corporation (NYSE:MTG) is a holding company whose principal subsidiary is Mortgage Guaranty Insurance Corporation (MGIC), a provider of private mortgage insurance in the United States. MGIC’s insurance helps protect mortgage lenders and investors against losses when borrowers default, enabling qualified homebuyers to obtain mortgages with smaller down payments.

MGIC primarily offers primary mortgage insurance for residential loans, working with mortgage lenders, banks and other housing-finance institutions.