Alps Advisors Inc. Buys 264,968 Shares of MGIC Investment Corporation $MTG

Alps Advisors Inc. lifted its stake in MGIC Investment Corporation (NYSE:MTG) by 60.6% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 701,943 shares of the insurance provider’s stock after purchasing an additional 264,968 shares during the quarter. Alps Advisors Inc. owned about 0.31% of MGIC Investment worth $19,914,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of MTG. Waterloo Capital L.P. lifted its position in MGIC Investment by 6.8% in the third quarter. Waterloo Capital L.P. now owns 36,588 shares of the insurance provider’s stock worth $1,038,000 after buying an additional 2,323 shares during the last quarter. SBI Securities Co. Ltd. raised its stake in shares of MGIC Investment by 61.1% in the third quarter. SBI Securities Co. Ltd. now owns 1,041 shares of the insurance provider’s stock valued at $30,000 after acquiring an additional 395 shares during the period. Savant Capital LLC lifted its holdings in shares of MGIC Investment by 14.4% in the 3rd quarter. Savant Capital LLC now owns 53,281 shares of the insurance provider’s stock worth $1,512,000 after acquiring an additional 6,726 shares during the last quarter. Hantz Financial Services Inc. lifted its holdings in shares of MGIC Investment by 178.0% in the 3rd quarter. Hantz Financial Services Inc. now owns 2,994 shares of the insurance provider’s stock worth $85,000 after acquiring an additional 1,917 shares during the last quarter. Finally, State of Wyoming boosted its stake in shares of MGIC Investment by 156.4% during the 3rd quarter. State of Wyoming now owns 11,193 shares of the insurance provider’s stock worth $318,000 after purchasing an additional 6,828 shares during the period. Hedge funds and other institutional investors own 95.58% of the company’s stock.

MGIC Investment Stock Up 0.2%

Shares of NYSE MTG opened at $27.33 on Monday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.48 and a current ratio of 0.78. The firm has a market capitalization of $6.11 billion, a price-to-earnings ratio of 8.70, a PEG ratio of 2.17 and a beta of 0.83. The stock has a 50 day moving average price of $28.09 and a 200 day moving average price of $27.77. MGIC Investment Corporation has a 52-week low of $21.94 and a 52-week high of $29.97.

MGIC Investment (NYSE:MTG) last released its quarterly earnings data on Monday, February 2nd. The insurance provider reported $0.75 EPS for the quarter, topping the consensus estimate of $0.73 by $0.02. MGIC Investment had a return on equity of 14.33% and a net margin of 60.84%.The company had revenue of $298.65 million for the quarter, compared to the consensus estimate of $308.19 million. During the same period last year, the business posted $0.72 EPS. MGIC Investment’s quarterly revenue was down .9% on a year-over-year basis. Sell-side analysts expect that MGIC Investment Corporation will post 2.71 earnings per share for the current year.

MGIC Investment Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Tuesday, February 17th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Tuesday, February 17th. MGIC Investment’s payout ratio is presently 19.11%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Barclays reduced their price objective on shares of MGIC Investment from $30.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 4th. Weiss Ratings lowered MGIC Investment from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Thursday. Finally, Keefe, Bruyette & Woods boosted their price objective on MGIC Investment from $27.00 to $28.00 and gave the company a “market perform” rating in a report on Thursday, December 18th. One research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $27.50.

Insider Transactions at MGIC Investment

In other MGIC Investment news, COO Salvatore A. Miosi sold 30,000 shares of the stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $27.27, for a total transaction of $818,100.00. Following the transaction, the chief operating officer directly owned 454,245 shares in the company, valued at $12,387,261.15. This represents a 6.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Timothy J. Mattke sold 139,203 shares of the firm’s stock in a transaction dated Tuesday, January 13th. The shares were sold at an average price of $26.51, for a total transaction of $3,690,271.53. Following the transaction, the chief executive officer directly owned 822,588 shares in the company, valued at $21,806,807.88. This trade represents a 14.47% decrease in their position. The SEC filing for this sale provides additional information. 1.41% of the stock is owned by corporate insiders.

MGIC Investment Company 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.