American Century Companies Inc. Purchases 25,371 Shares of MGIC Investment Corporation $MTG

American Century Companies Inc. increased its holdings in MGIC Investment Corporation (NYSE:MTG) by 0.8% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,039,553 shares of the insurance provider’s stock after buying an additional 25,371 shares during the period. American Century Companies Inc. owned 1.32% of MGIC Investment worth $84,621,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. True Wealth Design LLC increased its stake in MGIC Investment by 262.5% in the 2nd quarter. True Wealth Design LLC now owns 1,004 shares of the insurance provider’s stock worth $28,000 after acquiring an additional 727 shares during the last quarter. WPG Advisers LLC purchased a new position in shares of MGIC Investment during the first quarter worth about $26,000. Hantz Financial Services Inc. increased its position in shares of MGIC Investment by 3,067.6% in the second quarter. Hantz Financial Services Inc. now owns 1,077 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 1,043 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in MGIC Investment by 118.0% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,308 shares of the insurance provider’s stock valued at $36,000 after purchasing an additional 708 shares in the last quarter. Finally, Quarry LP purchased a new stake in MGIC Investment in the first quarter valued at approximately $38,000. 95.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

MGIC Investment Trading Up 1.0%

MTG stock opened at $28.45 on Wednesday. The company has a market capitalization of $6.36 billion, a PE ratio of 9.15, a price-to-earnings-growth 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 one year low of $21.94 and a one year high of $29.01. The company’s 50 day moving average price is $27.72 and its two-hundred day moving average price is $27.20.

MGIC Investment (NYSE:MTG) last announced its quarterly earnings data on Wednesday, October 29th. The insurance provider reported $0.83 earnings per share (EPS) for the quarter, beating 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 net margin of 61.96% and a return on equity of 14.63%. The firm’s revenue was down .7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.77 EPS. As a group, analysts predict that MGIC Investment Corporation will post 2.71 earnings per share for the current fiscal year.

MGIC Investment Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Investors of record on Thursday, November 6th were issued a dividend of $0.15 per share. The ex-dividend date was Thursday, November 6th. This represents a $0.60 annualized dividend and a yield of 2.1%. MGIC Investment’s dividend payout ratio is currently 19.29%.

Insider Buying and Selling

In other MGIC Investment news, EVP Paula C. Maggio sold 20,000 shares of MGIC Investment stock in a transaction that occurred 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 transaction, the executive vice president directly owned 117,395 shares of the company’s stock, valued at $3,221,318.80. The trade was a 14.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Salvatore A. Miosi sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $28.15, for a total value of $844,500.00. Following the completion of the sale, the chief operating officer owned 189,401 shares of the company’s stock, valued at $5,331,638.15. The trade was a 13.67% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 219,203 shares of company stock worth $5,989,909 in the last ninety days. 1.05% of the stock is owned by insiders.

MGIC Investment 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.