American Century Companies Inc. Purchases 41,766 Shares of MGIC Investment Corporation $MTG

American Century Companies Inc. grew its holdings in MGIC Investment Corporation (NYSE:MTG) by 1.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,081,319 shares of the insurance provider’s stock after purchasing an additional 41,766 shares during the quarter. American Century Companies Inc. owned about 1.38% of MGIC Investment worth $87,417,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MTG. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in MGIC Investment in the 1st quarter valued at $2,397,000. Goldman Sachs Group Inc. boosted its holdings 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 last quarter. Geneos Wealth Management Inc. increased its position in MGIC Investment by 88.0% in the first quarter. Geneos Wealth Management Inc. now owns 1,745 shares of the insurance provider’s stock worth $43,000 after purchasing an additional 817 shares during the period. Sivia Capital Partners LLC acquired a new stake in MGIC Investment in the second quarter worth about $425,000. Finally, Hantz Financial Services Inc. raised its holdings in MGIC Investment by 3,067.6% during the 2nd quarter. Hantz Financial Services Inc. now owns 1,077 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 1,043 shares during the last quarter. 95.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently commented on MTG. Keefe, Bruyette & Woods lifted 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. Weiss Ratings lowered shares of MGIC Investment from a “buy (a-)” rating to a “buy (b+)” rating in a report on Thursday, February 5th. Finally, Barclays dropped their target price on shares of MGIC Investment from $30.00 to $28.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 4th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $28.00.

MGIC Investment Stock Performance

Shares of MGIC Investment stock opened at $26.75 on Wednesday. The stock’s fifty day simple moving average is $27.35 and its 200 day simple moving average is $27.78. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $5.75 billion, a PE ratio of 8.52, a PEG ratio of 2.15 and a beta of 0.83. MGIC Investment Corporation has a 12 month low of $21.94 and a 12 month high of $29.97.

MGIC Investment (NYSE:MTG) last announced its quarterly earnings results 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 return on equity of 14.33% and a net margin of 60.84%.The firm’s quarterly revenue was down .9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.72 earnings per share. On average, research analysts predict that MGIC Investment Corporation will post 2.71 EPS for the current year.

MGIC Investment Dividend Announcement

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

Insiders Place Their Bets

In other news, CEO Timothy J. Mattke sold 139,203 shares of the stock in a transaction on 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 completion of the sale, the chief executive officer owned 822,588 shares of the company’s stock, valued at $21,806,807.88. This represents a 14.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Salvatore A. Miosi sold 30,000 shares of the firm’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $27.27, for a total transaction of $818,100.00. Following the sale, the chief operating officer owned 454,245 shares in the company, valued at approximately $12,387,261.15. The trade was a 6.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 189,203 shares of company stock worth $5,058,572. Company insiders own 1.41% of the company’s stock.

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.