Atria Investments Inc Buys Shares of 10,011 MGIC Investment Corporation $MTG

Atria Investments Inc bought a new stake in MGIC Investment Corporation (NYSE:MTG) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 10,011 shares of the insurance provider’s stock, valued at approximately $279,000.

Several other large investors have also modified their holdings of MTG. JPMorgan Chase & Co. grew its position in MGIC Investment by 4.8% in the 1st quarter. JPMorgan Chase & Co. now owns 16,162,180 shares of the insurance provider’s stock valued at $400,499,000 after buying an additional 743,212 shares during the last quarter. LSV Asset Management raised its position in MGIC Investment by 2.9% during the 1st quarter. LSV Asset Management now owns 10,888,437 shares of the insurance provider’s stock worth $269,815,000 after buying an additional 310,095 shares during the last quarter. Allianz Asset Management GmbH lifted its stake in shares of MGIC Investment by 40.6% in the 2nd quarter. Allianz Asset Management GmbH now owns 5,398,356 shares of the insurance provider’s stock worth $150,290,000 after acquiring an additional 1,557,970 shares during the period. AQR Capital Management LLC boosted its holdings in shares of MGIC Investment by 22.5% in the first quarter. AQR Capital Management LLC now owns 3,291,645 shares of the insurance provider’s stock valued at $80,481,000 after acquiring an additional 605,342 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of MGIC Investment by 6.7% in 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 acquiring an additional 195,895 shares in the last quarter. Hedge funds and other institutional investors own 95.58% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on MTG. Barclays raised their price objective on shares of MGIC Investment from $27.00 to $28.00 and gave the company a “cautious” rating in a research report on Monday, October 6th. Weiss Ratings reissued a “buy (a-)” rating on shares of MGIC Investment in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $26.80.

Insider Activity at MGIC Investment

In other MGIC Investment news, EVP Paula C. Maggio sold 20,000 shares of the business’s 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 directly owned 117,395 shares in the company, valued at approximately $3,221,318.80. The trade was a 14.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Salvatore A. Miosi sold 30,000 shares of the stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $28.15, for a total value of $844,500.00. Following the transaction, the chief operating officer directly owned 189,401 shares in the company, valued at approximately $5,331,638.15. This represents a 13.67% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 219,203 shares of company stock valued at $5,989,909. Company insiders own 1.05% of the company’s stock.

MGIC Investment Price Performance

MTG stock opened at $28.45 on Thursday. The stock’s 50 day moving average price is $27.77 and its 200 day moving average price is $27.04. The firm has a market cap of $6.37 billion, a P/E ratio of 9.15, a PEG ratio of 1.91 and a beta of 0.92. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.46 and a current ratio of 1.46. MGIC Investment Corporation has a 1 year low of $21.94 and a 1 year high of $29.01.

MGIC Investment (NYSE:MTG) last released its quarterly earnings results on Wednesday, October 29th. The insurance provider reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.11. The company had revenue of $304.51 million during the quarter, compared to analysts’ expectations of $308.16 million. MGIC Investment had a return on equity of 14.63% and a net margin of 61.96%.The business’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.77 earnings per share. On average, sell-side analysts expect that MGIC Investment Corporation will post 2.71 earnings per share for the current fiscal year.

MGIC Investment Announces Dividend

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

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.