MGIC Investment (NYSE:MTG) COO Sells $286,938.75 in Stock

MGIC Investment Corporation (NYSE:MTG) COO Salvatore Miosi sold 10,931 shares of the business’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $26.25, for a total transaction of $286,938.75. Following the sale, the chief operating officer directly owned 590,951 shares of the company’s stock, valued at approximately $15,512,463.75. The trade was a 1.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

MGIC Investment Trading Down 0.1%

MTG opened at $26.50 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.52 and a quick ratio of 1.52. MGIC Investment Corporation has a fifty-two week low of $21.94 and a fifty-two week high of $29.97. The firm has a market capitalization of $5.70 billion, a PE ratio of 8.44, a P/E/G ratio of 2.11 and a beta of 0.79. The company’s 50-day moving average is $26.47 and its 200 day moving average is $27.49.

MGIC Investment (NYSE:MTG) last released its quarterly 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. MGIC Investment had a return on equity of 14.33% and a net margin of 60.84%.MGIC Investment’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.72 earnings per share. As a group, research analysts predict that MGIC Investment Corporation will post 2.71 earnings per share for the current fiscal year.

MGIC Investment Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 6th. Stockholders of record on Tuesday, February 17th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Tuesday, February 17th. MGIC Investment’s dividend payout ratio (DPR) is currently 19.11%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on MTG. Keefe, Bruyette & Woods increased their price target on MGIC Investment from $27.00 to $28.00 and gave the company a “market perform” rating in a research report on Thursday, December 18th. Weiss Ratings downgraded shares of MGIC Investment from a “buy (a-)” rating to a “buy (b+)” rating in a report on Thursday, February 5th. Barclays reduced 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 note on Wednesday, February 4th. Finally, UBS Group lowered their target price on shares of MGIC Investment from $29.50 to $28.00 and set a “neutral” rating for the company in a report on Thursday, March 12th. One analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $28.00.

Institutional Trading of MGIC Investment

A number of institutional investors and hedge funds have recently modified their holdings of the business. Norges Bank purchased a new position in MGIC Investment in the second quarter worth $95,857,000. AQR Capital Management LLC increased its position in shares of 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 valued at $176,313,000 after purchasing an additional 3,041,446 shares during the last quarter. First Trust Advisors LP increased its position in shares of MGIC Investment by 48.1% during the 2nd quarter. First Trust Advisors LP now owns 7,302,263 shares of the insurance provider’s stock valued at $203,295,000 after purchasing an additional 2,370,403 shares during the last quarter. Assetmark Inc. increased its position in shares of MGIC Investment by 1,208.1% during the 3rd quarter. Assetmark Inc. now owns 1,674,152 shares of the insurance provider’s stock valued at $47,496,000 after purchasing an additional 1,546,173 shares during the last quarter. Finally, Arbejdsmarkedets Tillaegspension bought a new stake in shares of MGIC Investment during the 4th quarter worth $24,456,000. 95.58% of the stock is owned by hedge funds and other institutional investors.

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.