Caprock Group LLC Invests $1.46 Million in MGIC Investment Corporation $MTG

Caprock Group LLC acquired a new position in MGIC Investment Corporation (NYSE:MTG) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 52,316 shares of the insurance provider’s stock, valued at approximately $1,456,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank acquired a new position in MGIC Investment in the 2nd quarter valued at approximately $95,857,000. AQR Capital Management LLC lifted its holdings in MGIC Investment by 92.4% during the 2nd quarter. AQR Capital Management LLC now owns 6,333,091 shares of the insurance provider’s stock worth $176,313,000 after buying an additional 3,041,446 shares in the last quarter. First Trust Advisors LP raised its position in shares of MGIC Investment by 48.1% during the second quarter. First Trust Advisors LP now owns 7,302,263 shares of the insurance provider’s stock worth $203,295,000 after acquiring an additional 2,370,403 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of MGIC Investment by 13.4% during the second quarter. JPMorgan Chase & Co. now owns 18,331,120 shares of the insurance provider’s stock valued at $510,338,000 after acquiring an additional 2,168,940 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in MGIC Investment in the second quarter valued at about $29,139,000. 95.58% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Insider Buying and Selling

In related news, EVP Paula C. Maggio sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $27.51, for a total transaction of $550,200.00. Following the transaction, the executive vice president directly owned 114,689 shares of the company’s stock, valued at approximately $3,155,094.39. This represents a 14.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Salvatore A. Miosi sold 30,000 shares of the stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $27.27, for a total value of $818,100.00. Following the completion of the sale, the chief operating officer directly owned 454,245 shares of the company’s stock, valued at approximately $12,387,261.15. This trade represents a 6.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 189,203 shares of company stock valued at $5,058,572 over the last 90 days. 1.05% of the stock is owned by insiders.

MGIC Investment Price Performance

Shares of NYSE MTG opened at $26.69 on Friday. The firm has a market cap of $5.97 billion, a P/E ratio of 8.50, a price-to-earnings-growth ratio of 2.11 and a beta of 0.83. The business’s 50 day moving average is $27.97 and its 200-day moving average is $27.80. The company has a current ratio of 0.78, a quick ratio of 1.48 and a debt-to-equity ratio of 0.13. MGIC Investment Corporation has a 1-year low of $21.94 and a 1-year high of $29.97.

MGIC Investment (NYSE:MTG) last released its quarterly earnings results on Monday, February 2nd. The insurance provider reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.02. MGIC Investment had a net margin of 60.84% and a return on equity of 14.33%. The business had revenue of $298.65 million for the quarter, compared to analyst estimates of $308.19 million. During the same period last year, the firm earned $0.72 earnings per share. MGIC Investment’s revenue for the quarter was down .9% compared to the same quarter last year. Equities research analysts predict that MGIC Investment Corporation will post 2.71 earnings per share for the current year.

MGIC Investment Announces Dividend

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

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.