XTX Topco Ltd Has $1.10 Million Stake in MGIC Investment Corporation (NYSE:MTG)

XTX Topco Ltd boosted its stake in shares of MGIC Investment Corporation (NYSE:MTG) by 1.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 44,500 shares of the insurance provider’s stock after buying an additional 731 shares during the quarter. XTX Topco Ltd’s holdings in MGIC Investment were worth $1,103,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in MTG. Signaturefd LLC boosted its position in MGIC Investment by 1.9% during the first quarter. Signaturefd LLC now owns 22,112 shares of the insurance provider’s stock valued at $548,000 after acquiring an additional 421 shares during the last quarter. Fifth Third Bancorp lifted its stake in shares of MGIC Investment by 20.1% in the 1st quarter. Fifth Third Bancorp now owns 2,749 shares of the insurance provider’s stock valued at $68,000 after purchasing an additional 461 shares during the period. NorthCrest Asset Manangement LLC boosted its position in shares of MGIC Investment by 1.3% during the 1st quarter. NorthCrest Asset Manangement LLC now owns 41,718 shares of the insurance provider’s stock valued at $1,034,000 after purchasing an additional 524 shares in the last quarter. ProShare Advisors LLC boosted its position in shares of MGIC Investment by 4.9% during the 4th quarter. ProShare Advisors LLC now owns 11,854 shares of the insurance provider’s stock valued at $281,000 after purchasing an additional 553 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its stake in MGIC Investment by 1.5% during the first quarter. Janney Montgomery Scott LLC now owns 40,985 shares of the insurance provider’s stock worth $1,016,000 after purchasing an additional 587 shares during the period. Institutional investors own 95.58% of the company’s stock.

Insider Activity

In related news, EVP Paula C. Maggio sold 20,000 shares of the business’s stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $26.49, for a total transaction of $529,800.00. Following the transaction, the executive vice president directly owned 157,395 shares in the company, valued at approximately $4,169,393.55. The trade was a 11.27% 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. 1.05% of the stock is currently owned by insiders.

Analysts Set New Price Targets

MTG has been the topic of a number of research analyst reports. Compass Point restated a “neutral” rating and set a $28.00 price target (up from $27.00) on shares of MGIC Investment in a report on Friday, May 23rd. Barclays increased their target price on shares of MGIC Investment from $26.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 8th. Finally, Keefe, Bruyette & Woods raised their price target on shares of MGIC Investment from $26.00 to $27.00 and gave the stock a “market perform” rating in a report on Monday, July 7th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $26.88.

MGIC Investment Price Performance

MTG stock opened at $26.27 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.25 and a current ratio of 1.46. The business has a 50-day simple moving average of $26.50 and a two-hundred day simple moving average of $25.25. The company has a market capitalization of $6.24 billion, a P/E ratio of 8.61, a price-to-earnings-growth ratio of 2.78 and a beta of 0.89. MGIC Investment Corporation has a 52-week low of $21.94 and a 52-week high of $28.67.

MGIC Investment (NYSE:MTG) last announced its earnings results on Wednesday, July 30th. The insurance provider reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.12. MGIC Investment had a return on equity of 14.73% and a net margin of 62.58%. The company had revenue of $304.25 million for the quarter, compared to analysts’ expectations of $306.25 million. During the same quarter in the previous year, the firm earned $0.77 earnings per share. MGIC Investment’s quarterly revenue was down .3% on a year-over-year basis. Research analysts expect that MGIC Investment Corporation will post 2.71 EPS for the current fiscal year.

MGIC Investment declared that its board has approved a stock buyback program on Thursday, April 24th that permits the company to buyback $750.00 million in outstanding shares. This buyback authorization permits the insurance provider to reacquire up to 12.5% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

MGIC Investment Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 21st. Stockholders of record on Thursday, August 7th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Thursday, August 7th. This is a positive change from MGIC Investment’s previous quarterly dividend of $0.13. MGIC Investment’s dividend payout ratio (DPR) is currently 19.67%.

MGIC Investment Company Profile

MGIC Investment Corporation, through its subsidiaries, provides private mortgage insurance, other mortgage credit risk management solutions, and ancillary services to lenders and government sponsored entities in the United States, the District of Columbia, Puerto Rico, and Guam. The company offers primary mortgage insurance that provides mortgage default protection on individual loans, as well as covers unpaid loan principal, delinquent interest, and various expenses associated with the default and subsequent foreclosure.