Corient Private Wealth LLC Has $8.37 Million Stock Position in MGIC Investment Corporation $MTG

Corient Private Wealth LLC raised its holdings in MGIC Investment Corporation (NYSE:MTG) by 92.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 300,789 shares of the insurance provider’s stock after buying an additional 144,650 shares during the quarter. Corient Private Wealth LLC owned 0.13% of MGIC Investment worth $8,374,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. FCG Investment Co acquired a new stake in MGIC Investment in the second quarter worth $846,000. Sequoia Financial Advisors LLC acquired a new position in shares of MGIC Investment during the second quarter valued at about $568,000. North Star Asset Management Inc. bought a new position in shares of MGIC Investment during the 2nd quarter worth about $375,000. WINTON GROUP Ltd acquired a new stake in shares of MGIC Investment in the 2nd quarter valued at about $6,797,000. Finally, Caisse DE Depot ET Placement DU Quebec grew its stake in shares of MGIC Investment by 25.3% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,597,602 shares of the insurance provider’s stock valued at $64,369,000 after buying an additional 524,973 shares during the period. Institutional investors and hedge funds own 95.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Keefe, Bruyette & Woods increased their price target on MGIC Investment from $27.00 to $28.00 and gave the stock a “market perform” rating in a report on Thursday. Barclays upped their target price on MGIC Investment from $27.00 to $28.00 and gave the stock a “cautious” rating in a research report on Monday, October 6th. Finally, Weiss Ratings reissued a “buy (a-)” rating on shares of MGIC Investment in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, MGIC Investment has an average rating of “Hold” and a consensus target price of $27.50.

Insider Activity at MGIC Investment

In related news, COO Salvatore A. Miosi sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $28.15, for a total transaction of $844,500.00. Following the transaction, the chief operating officer directly owned 189,401 shares of the company’s stock, valued at $5,331,638.15. This trade represents a 13.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Paula C. Maggio sold 20,000 shares of the company’s stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $27.44, for a total transaction of $548,800.00. Following the completion of the sale, 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 219,203 shares of company stock valued at $5,989,909 over the last ninety days. Corporate insiders own 1.05% of the company’s stock.

MGIC Investment Stock Performance

Shares of MGIC Investment stock opened at $29.59 on Friday. MGIC Investment Corporation has a 52 week low of $21.94 and a 52 week high of $29.97. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.12. The business has a 50 day moving average price of $28.00 and a 200-day moving average price of $27.47. The company has a market cap of $6.62 billion, a PE ratio of 9.51, a price-to-earnings-growth ratio of 1.67 and a beta of 0.85.

MGIC Investment (NYSE:MTG) last announced its quarterly earnings results on Wednesday, October 29th. The insurance provider reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.11. MGIC Investment had a return on equity of 14.62% and a net margin of 61.96%.The business had revenue of $304.51 million during the quarter, compared to the consensus estimate of $308.16 million. During the same quarter in the prior year, the company posted $0.77 earnings per share. MGIC Investment’s revenue was down .7% compared to the same quarter last year. Equities analysts anticipate that MGIC Investment Corporation will post 2.71 earnings per share for the current fiscal year.

MGIC Investment Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Thursday, November 6th were issued a $0.15 dividend. The ex-dividend date was Thursday, November 6th. This represents a $0.60 annualized dividend and a dividend yield of 2.0%. MGIC Investment’s dividend payout ratio is currently 19.29%.

MGIC Investment Profile

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.