Burns Matteson Capital Management LLC Makes New Investment in MGIC Investment Corporation $MTG

Burns Matteson Capital Management LLC purchased a new stake in shares of MGIC Investment Corporation (NYSE:MTG) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 20,064 shares of the insurance provider’s stock, valued at approximately $586,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Compound Planning Inc. lifted its position in shares of MGIC Investment by 5.3% during the 3rd quarter. Compound Planning Inc. now owns 7,788 shares of the insurance provider’s stock worth $221,000 after purchasing an additional 389 shares during the last quarter. SBI Securities Co. Ltd. grew its holdings in MGIC Investment by 61.1% in the 3rd quarter. SBI Securities Co. Ltd. now owns 1,041 shares of the insurance provider’s stock valued at $30,000 after buying an additional 395 shares during the last quarter. Waddell & Associates LLC increased its position in MGIC Investment by 5.3% in the 3rd quarter. Waddell & Associates LLC now owns 8,090 shares of the insurance provider’s stock worth $230,000 after buying an additional 410 shares during the period. Clearstead Advisors LLC lifted its holdings in shares of MGIC Investment by 24.7% during the third quarter. Clearstead Advisors LLC now owns 2,209 shares of the insurance provider’s stock worth $63,000 after buying an additional 438 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of MGIC Investment by 58.0% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,365 shares of the insurance provider’s stock worth $38,000 after buying an additional 501 shares during the last quarter. 95.58% of the stock is owned by institutional investors and hedge funds.

MGIC Investment Stock Performance

MTG opened at $26.24 on Wednesday. The stock’s 50 day simple moving average is $26.48 and its 200-day simple moving average is $27.52. 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 stock has a market cap of $5.64 billion, a PE ratio of 8.36, a P/E/G ratio of 2.07 and a beta of 0.83. MGIC Investment Corporation has a 1 year low of $21.94 and a 1 year high of $29.97.

MGIC Investment (NYSE:MTG) last issued its earnings results 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 return on equity of 14.33% and a net margin of 60.84%.The business’s revenue for the quarter was down .9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.72 earnings per share. Sell-side analysts forecast that MGIC Investment Corporation will post 2.71 EPS for the current year.

MGIC Investment Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 6th. Stockholders of record on Tuesday, February 17th were given a dividend of $0.15 per share. 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 payout ratio is 19.11%.

Analyst Upgrades and Downgrades

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

Insider Activity

In related news, COO Salvatore A. Miosi sold 30,000 shares of the company’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 owned 454,245 shares of the company’s stock, valued at $12,387,261.15. The trade was a 6.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Timothy J. Mattke sold 139,203 shares of the 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 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. In the last three months, insiders have sold 189,203 shares of company stock worth $5,058,572. Corporate insiders own 1.34% of the company’s stock.

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.