135,914 Shares in MGIC Investment Corporation $MTG Purchased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. bought a new stake in shares of MGIC Investment Corporation (NYSE:MTG) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 135,914 shares of the insurance provider’s stock, valued at approximately $3,971,000. Assenagon Asset Management S.A. owned 0.06% of MGIC Investment as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Norges Bank bought a new position in shares of MGIC Investment during the second quarter valued at approximately $95,857,000. AQR Capital Management LLC raised its stake in MGIC Investment by 92.4% in the second quarter. AQR Capital Management LLC now owns 6,333,091 shares of the insurance provider’s stock worth $176,313,000 after buying an additional 3,041,446 shares in the last quarter. First Trust Advisors LP raised its stake in MGIC Investment by 48.1% in the second quarter. First Trust Advisors LP now owns 7,302,263 shares of the insurance provider’s stock worth $203,295,000 after buying an additional 2,370,403 shares in the last quarter. Assetmark Inc. lifted its holdings in MGIC Investment by 1,208.1% during the third quarter. Assetmark Inc. now owns 1,674,152 shares of the insurance provider’s stock worth $47,496,000 after buying an additional 1,546,173 shares during the period. Finally, Caisse de depot et placement du Quebec boosted its position in MGIC Investment by 20.4% during the 3rd quarter. Caisse de depot et placement du Quebec now owns 3,943,965 shares of the insurance provider’s stock valued at $111,890,000 after acquiring an additional 667,876 shares in the last quarter. Institutional investors own 95.58% of the company’s stock.

Wall Street Analysts Forecast Growth

MTG has been the subject of several recent research reports. UBS Group reduced their price target on MGIC Investment from $29.50 to $28.00 and set a “neutral” rating for the company in a research report on Thursday, March 12th. Weiss Ratings downgraded shares of MGIC Investment from a “buy (a-)” rating to a “buy (b+)” rating in a report on Thursday, February 5th. Keefe, Bruyette & Woods raised their price target on shares of MGIC Investment from $27.00 to $28.00 and gave the company a “market perform” rating in a report on Thursday, December 18th. Finally, Barclays reduced their price objective 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. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, MGIC Investment presently has a consensus rating of “Hold” and a consensus price target of $28.00.

MGIC Investment Stock Down 0.1%

NYSE:MTG opened at $25.71 on Monday. 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 twelve month low of $21.94 and a twelve month high of $29.97. The company has a market cap of $5.53 billion, a PE ratio of 8.19, a P/E/G ratio of 2.04 and a beta of 0.83. The company’s 50 day moving average is $26.49 and its two-hundred day moving average is $27.55.

MGIC Investment (NYSE:MTG) last posted its quarterly earnings data on Monday, February 2nd. The insurance provider reported $0.75 EPS 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 firm’s revenue was down .9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.72 earnings per share. Analysts anticipate that MGIC Investment Corporation will post 2.71 EPS for the current year.

MGIC Investment Dividend Announcement

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

Insider Transactions at MGIC Investment

In related news, CEO Timothy J. Mattke sold 139,203 shares of MGIC Investment 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 $21,806,807.88. The trade was a 14.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Salvatore A. Miosi sold 30,000 shares of the company’s 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 completion of the sale, the chief operating officer directly owned 454,245 shares in the company, valued at $12,387,261.15. This trade represents a 6.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 189,203 shares of company stock worth $5,058,572 over the last three months. 1.34% of the stock is currently owned by insiders.

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.