Aaron Wealth Advisors LLC Increases Holdings in MGIC Investment Corporation $MTG

Aaron Wealth Advisors LLC lifted its position in shares of MGIC Investment Corporation (NYSE:MTG) by 76.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,726 shares of the insurance provider’s stock after acquiring an additional 19,374 shares during the quarter. Aaron Wealth Advisors LLC’s holdings in MGIC Investment were worth $1,307,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of MTG. Alpine Bank Wealth Management purchased a new stake in shares of MGIC Investment during the 3rd quarter worth approximately $28,000. Newbridge Financial Services Group Inc. purchased a new position in MGIC Investment during the 3rd quarter valued at about $28,000. SBI Securities Co. Ltd. increased its holdings in MGIC Investment by 61.1% during the 3rd quarter. SBI Securities Co. Ltd. now owns 1,041 shares of the insurance provider’s stock valued at $30,000 after acquiring an additional 395 shares in the last quarter. Root Financial Partners LLC purchased a new position in MGIC Investment during the 3rd quarter valued at about $38,000. Finally, Whittier Trust Co. of Nevada Inc. increased its holdings in MGIC Investment by 58.0% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,365 shares of the insurance provider’s stock valued at $38,000 after acquiring an additional 501 shares in the last quarter. Hedge funds and other institutional investors own 95.58% of the company’s stock.

Insider Transactions at MGIC Investment

In other MGIC Investment news, 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 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 approximately $21,806,807.88. The trade was a 14.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Salvatore A. Miosi sold 30,000 shares of the business’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $27.27, for a total value of $818,100.00. Following 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 position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 339,336 shares of company stock worth $9,032,971 in the last three months. Company insiders own 1.05% of the company’s stock.

MGIC Investment Stock Up 0.0%

MTG stock opened at $27.03 on Wednesday. The stock has a market capitalization of $5.81 billion, a P/E ratio of 8.61, a PEG ratio of 2.11 and a beta of 0.79. MGIC Investment Corporation has a one year low of $21.94 and a one year high of $29.97. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.52 and a current ratio of 1.52. The company has a 50 day moving average price of $26.49 and a two-hundred day moving average price of $27.47.

MGIC Investment (NYSE:MTG) last announced its quarterly earnings data on Monday, February 2nd. The insurance provider reported $0.75 earnings per share for the quarter, topping the consensus estimate 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’s revenue was down .9% on a year-over-year basis. During the same quarter last year, the company posted $0.72 EPS. As a group, sell-side analysts expect that MGIC Investment Corporation will post 2.71 EPS for the current year.

MGIC Investment Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 6th. Stockholders of record on Tuesday, February 17th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.2%. The ex-dividend date was Tuesday, February 17th. MGIC Investment’s dividend payout ratio is presently 19.11%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on MTG shares. 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 upped their price objective on MGIC Investment from $28.00 to $29.00 and gave the company an “equal weight” rating in a research report on Monday. UBS Group reduced their price objective on MGIC Investment from $29.50 to $28.00 and set a “neutral” rating on the stock in a research report on Thursday, March 12th. Finally, Keefe, Bruyette & Woods upped their price objective 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. One analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $28.25.

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.