Advisors Preferred LLC Acquires Shares of 100,425 MGIC Investment Corporation $MTG

Advisors Preferred LLC bought a new position in MGIC Investment Corporation (NYSE:MTG) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 100,425 shares of the insurance provider’s stock, valued at approximately $2,822,000.

A number of other large investors have also made changes to their positions in the company. True Wealth Design LLC boosted 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 purchasing an additional 727 shares during the period. Alpine Bank Wealth Management purchased a new stake in shares of MGIC Investment in the third quarter valued at $28,000. Hantz Financial Services Inc. lifted its holdings 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 valued at $30,000 after purchasing an additional 1,043 shares in the last quarter. SBI Securities Co. Ltd. boosted its position 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 worth $30,000 after buying an additional 395 shares during the period. Finally, Employees Retirement System of Texas purchased a new position in shares of MGIC Investment during the second quarter valued at $32,000. Institutional investors and hedge funds own 95.58% of the company’s stock.

Insiders Place Their Bets

In other MGIC Investment news, COO Salvatore A. Miosi sold 30,000 shares of the stock in a transaction on 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 of the company’s stock, valued at $12,387,261.15. This represents a 6.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Timothy J. Mattke sold 139,203 shares of the business’s stock in a transaction dated Tuesday, January 13th. The stock was sold at an average price of $26.51, for a total value of $3,690,271.53. Following the completion of the sale, the chief executive officer directly owned 822,588 shares of the company’s stock, valued at $21,806,807.88. This represents a 14.47% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 189,203 shares of company stock valued at $5,058,572 over the last three months. 1.05% of the stock is currently owned by insiders.

MGIC Investment Trading Up 0.5%

Shares of NYSE MTG opened at $26.19 on Friday. The business has a 50 day simple moving average of $27.77 and a 200 day simple moving average of $27.81. MGIC Investment Corporation has a 52 week low of $21.94 and a 52 week high of $29.97. The stock has a market cap of $5.86 billion, a price-to-earnings ratio of 8.34, a PEG ratio of 2.08 and a beta of 0.83. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.48 and a current ratio of 0.78.

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

MGIC Investment Announces Dividend

The firm 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. The ex-dividend date is Tuesday, February 17th. This represents a $0.60 dividend on an annualized basis and a yield of 2.3%. MGIC Investment’s dividend payout ratio is currently 19.11%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on MTG shares. Weiss Ratings lowered MGIC Investment from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Thursday, February 5th. Keefe, Bruyette & Woods increased their price target on shares of MGIC Investment from $27.00 to $28.00 and gave the stock a “market perform” rating in a research report on Thursday, December 18th. Finally, 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. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $28.00.

About MGIC Investment

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.