MGIC Investment Co. (NYSE:MTG) CAO Sells $112,930.00 in Stock

MGIC Investment Co. (NYSE:MTG) CAO Julie K. Sperber sold 4,600 shares of MGIC Investment stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $24.55, for a total value of $112,930.00. Following the completion of the sale, the chief accounting officer now directly owns 75,070 shares in the company, valued at approximately $1,842,968.50. The trade was a 5.77 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

MGIC Investment Price Performance

MTG opened at $23.97 on Monday. The business has a fifty day moving average of $24.34 and a 200 day moving average of $24.79. MGIC Investment Co. has a 52-week low of $18.98 and a 52-week high of $26.56. The company has a quick ratio of 1.25, a current ratio of 0.48 and a debt-to-equity ratio of 0.12. The stock has a market cap of $6.07 billion, a P/E ratio of 8.26 and a beta of 1.29.

MGIC Investment (NYSE:MTG) last posted its quarterly earnings data on Monday, February 3rd. The insurance provider reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.07. MGIC Investment had a return on equity of 14.86% and a net margin of 63.18%. As a group, sell-side analysts anticipate that MGIC Investment Co. will post 2.71 EPS for the current year.

MGIC Investment Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 5th. Shareholders of record on Tuesday, February 18th will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 2.17%. The ex-dividend date is Tuesday, February 18th. MGIC Investment’s dividend payout ratio is 17.93%.

Institutional Investors Weigh In On MGIC Investment

Several hedge funds have recently made changes to their positions in the company. Peak Retirement Planning Inc. purchased a new stake in shares of MGIC Investment in the 4th quarter worth $512,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of MGIC Investment by 3.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,206,491 shares of the insurance provider’s stock worth $28,606,000 after buying an additional 45,448 shares during the period. Squarepoint Ops LLC lifted its holdings in shares of MGIC Investment by 423.3% in the 4th quarter. Squarepoint Ops LLC now owns 493,749 shares of the insurance provider’s stock worth $11,707,000 after buying an additional 399,397 shares during the period. Two Sigma Advisers LP lifted its holdings in shares of MGIC Investment by 11.0% in the 4th quarter. Two Sigma Advisers LP now owns 81,600 shares of the insurance provider’s stock worth $1,935,000 after buying an additional 8,100 shares during the period. Finally, State of Wyoming lifted its holdings in shares of MGIC Investment by 11.4% in the 4th quarter. State of Wyoming now owns 31,091 shares of the insurance provider’s stock worth $737,000 after buying an additional 3,180 shares during the period. 95.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on MTG. UBS Group lifted their price objective on MGIC Investment from $25.00 to $26.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Keefe, Bruyette & Woods cut their target price on MGIC Investment from $29.00 to $28.00 and set a “market perform” rating on the stock in a research report on Wednesday, January 8th. Royal Bank of Canada cut their target price on MGIC Investment from $28.00 to $27.00 and set a “sector perform” rating on the stock in a research report on Wednesday, November 6th. Barclays boosted their target price on MGIC Investment from $25.00 to $26.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 5th. Finally, Bank of America downgraded MGIC Investment from a “buy” rating to an “underperform” rating and cut their target price for the company from $26.00 to $25.00 in a research report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, MGIC Investment currently has a consensus rating of “Hold” and a consensus price target of $26.75.

About MGIC Investment

MGIC Investment Corporation, through its subsidiaries, provides private mortgage insurance, other mortgage credit risk management solutions, and ancillary services to lenders and government sponsored entities in the United States, the District of Columbia, Puerto Rico, and Guam. The company offers primary mortgage insurance that provides mortgage default protection on individual loans, as well as covers unpaid loan principal, delinquent interest, and various expenses associated with the default and subsequent foreclosure.