MGIC Investment (NYSE:MTG) EVP Sells $550,200.00 in Stock

MGIC Investment Corporation (NYSE:MTG) EVP Paula Maggio sold 20,000 shares of the company’s stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $27.51, for a total value of $550,200.00. Following the sale, the executive vice president owned 114,689 shares of the company’s stock, valued at $3,155,094.39. This represents a 14.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

MGIC Investment Stock Up 1.9%

MTG opened at $27.36 on Thursday. MGIC Investment Corporation has a 1 year low of $21.94 and a 1 year high of $29.97. The firm has a 50 day moving average price of $28.00 and a 200 day moving average price of $27.78. 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 company has a market cap of $6.12 billion, a PE ratio of 8.71, a price-to-earnings-growth ratio of 2.13 and a beta of 0.83.

MGIC Investment (NYSE:MTG) last released its quarterly earnings data on Monday, February 2nd. The insurance provider reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.02. MGIC Investment had a net margin of 60.84% and a return on equity of 14.33%. The company had revenue of $298.65 million during the quarter, compared to the consensus estimate of $308.19 million. During the same period in the previous year, the firm earned $0.72 earnings per share. MGIC Investment’s revenue for the quarter 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 Dividend Announcement

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

Wall Street Analyst Weigh In

MTG has been the subject of a number of analyst reports. Weiss Ratings cut shares of MGIC Investment from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Thursday, February 5th. Barclays reduced their price target on MGIC Investment from $30.00 to $28.00 and set an “equal weight” rating for the company in a report on Wednesday, February 4th. Finally, Keefe, Bruyette & Woods raised their price objective on MGIC Investment from $27.00 to $28.00 and gave the company a “market perform” rating in a research note on Thursday, December 18th. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, MGIC Investment presently has an average rating of “Hold” and a consensus target price of $27.50.

Institutional Trading of MGIC Investment

A number of institutional investors and hedge funds have recently modified their holdings of MTG. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of MGIC Investment in the 1st quarter valued at about $2,397,000. Goldman Sachs Group Inc. boosted its stake in 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 during the period. Geneos Wealth Management Inc. grew its holdings in shares of MGIC Investment by 88.0% during the first quarter. Geneos Wealth Management Inc. now owns 1,745 shares of the insurance provider’s stock valued at $43,000 after purchasing an additional 817 shares during the last quarter. Sivia Capital Partners LLC bought a new position in shares of MGIC Investment during the second quarter valued at approximately $425,000. Finally, KLP Kapitalforvaltning AS raised its position in shares of MGIC Investment by 2.2% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 79,800 shares of the insurance provider’s stock worth $2,222,000 after purchasing an additional 1,700 shares during the period. 95.58% of the stock is owned by institutional investors and hedge funds.

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.