Barclays PLC Purchases 290,893 Shares of MGIC Investment Corporation $MTG

Barclays PLC grew its holdings in MGIC Investment Corporation (NYSE:MTG) by 46.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 922,882 shares of the insurance provider’s stock after acquiring an additional 290,893 shares during the period. Barclays PLC owned 0.41% of MGIC Investment worth $26,182,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of MTG. Alps Advisors Inc. raised its holdings in MGIC Investment by 60.6% in the 3rd quarter. Alps Advisors Inc. now owns 701,943 shares of the insurance provider’s stock worth $19,914,000 after acquiring an additional 264,968 shares during the period. Lingohr Asset Management GmbH boosted its holdings in MGIC Investment by 1,625.5% during the third quarter. Lingohr Asset Management GmbH now owns 233,534 shares of the insurance provider’s stock valued at $6,625,000 after acquiring an additional 220,000 shares during the period. Thrivent Financial for Lutherans boosted its holdings in MGIC Investment by 17.8% during the third quarter. Thrivent Financial for Lutherans now owns 472,083 shares of the insurance provider’s stock valued at $13,393,000 after acquiring an additional 71,474 shares during the period. Moody Aldrich Partners LLC acquired a new stake in MGIC Investment in the 3rd quarter valued at approximately $4,648,000. Finally, North Star Asset Management Inc. bought a new position in MGIC Investment in the 2nd quarter worth approximately $375,000. Institutional investors own 95.58% of the company’s stock.

Insider Buying and Selling at MGIC Investment

In related news, COO Salvatore A. Miosi sold 30,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Timothy J. Mattke sold 139,203 shares of the business’s 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 transaction, the chief executive officer directly owned 822,588 shares of the company’s stock, valued at $21,806,807.88. This trade represents a 14.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 189,203 shares of company stock valued at $5,058,572. 1.05% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have issued reports on MTG shares. Weiss Ratings lowered shares of MGIC Investment from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Thursday, February 5th. Barclays decreased their target price on 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. Finally, Keefe, Bruyette & Woods upped their price target 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 analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $28.00.

MGIC Investment Stock Performance

NYSE:MTG opened at $25.87 on Thursday. The stock has a market capitalization of $5.56 billion, a P/E ratio of 8.24, a price-to-earnings-growth ratio of 2.10 and a beta of 0.83. The company has a current ratio of 1.52, a quick ratio of 1.52 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. The firm has a 50 day moving average of $26.98 and a 200-day moving average of $27.73.

MGIC Investment (NYSE:MTG) last announced its earnings results on Monday, February 2nd. The insurance provider reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.02. MGIC Investment had a return on equity of 14.33% and a net margin of 60.84%.The business’s quarterly revenue was down .9% on a year-over-year basis. During the same period last year, the firm earned $0.72 earnings per share. As a group, sell-side analysts anticipate that MGIC Investment Corporation will post 2.71 EPS for the current fiscal year.

MGIC Investment Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 6th. Shareholders of record on Tuesday, February 17th were paid a $0.15 dividend. The ex-dividend date of this dividend was 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 (DPR) is presently 19.11%.

MGIC Investment 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.