Y Intercept Hong Kong Ltd Sells 55,704 Shares of MGIC Investment Corporation $MTG

Y Intercept Hong Kong Ltd lessened its stake in shares of MGIC Investment Corporation (NYSE:MTG) by 49.6% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 56,509 shares of the insurance provider’s stock after selling 55,704 shares during the period. Y Intercept Hong Kong Ltd’s holdings in MGIC Investment were worth $1,603,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Sequoia Financial Advisors LLC acquired a new stake in shares of MGIC Investment during the 2nd quarter worth about $568,000. North Star Asset Management Inc. acquired a new stake in shares of MGIC Investment in the second quarter valued at approximately $375,000. Moody Aldrich Partners LLC bought a new stake in shares of MGIC Investment during the third quarter worth $4,648,000. WINTON GROUP Ltd bought a new stake in MGIC Investment during the 2nd quarter worth about $6,797,000. Finally, Capital Fund Management S.A. boosted its stake in shares of MGIC Investment by 27.1% in the 2nd quarter. Capital Fund Management S.A. now owns 221,154 shares of the insurance provider’s stock valued at $6,157,000 after purchasing an additional 47,189 shares during the last quarter. 95.58% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

MTG has been the subject of several analyst reports. Barclays lifted their price target on shares of MGIC Investment from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 6th. Weiss Ratings reiterated a “buy (a-)” rating on shares of MGIC Investment in a research report on Thursday, January 22nd. Finally, 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 note on Thursday, December 18th. One analyst has rated the stock with a Strong Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, MGIC Investment currently has a consensus rating of “Hold” and a consensus price target of $28.00.

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 value 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 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 the SEC website. Also, COO Salvatore A. Miosi sold 30,000 shares of the firm’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $27.52, for a total value of $825,600.00. Following the sale, the chief operating officer directly owned 159,401 shares in the company, valued at approximately $4,386,715.52. This represents a 15.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.05% of the stock is currently owned by insiders.

MGIC Investment Stock Up 2.1%

Shares of NYSE:MTG opened at $26.99 on Friday. The company has a 50 day moving average price of $28.26 and a two-hundred day moving average price of $27.67. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.48 and a current ratio of 1.48. The company has a market capitalization of $6.04 billion, a PE ratio of 8.68, a PEG ratio of 1.47 and a beta of 0.84. MGIC Investment Corporation has a 52 week low of $21.94 and a 52 week high of $29.97.

MGIC Investment (NYSE:MTG) last announced its quarterly earnings results on Wednesday, October 29th. The insurance provider reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.11. MGIC Investment had a net margin of 61.96% and a return on equity of 14.62%. The company had revenue of $304.51 million for the quarter, compared to analysts’ expectations of $308.16 million. During the same period last year, the firm posted $0.77 earnings per share. The business’s quarterly revenue was down .7% compared to the same quarter last year. Analysts forecast that MGIC Investment Corporation will post 2.71 earnings per share for the current year.

MGIC Investment Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Shareholders of record on Tuesday, February 17th will be issued a dividend of $0.15 per share. The ex-dividend date is Tuesday, February 17th. This represents a $0.60 annualized dividend and a yield of 2.2%. MGIC Investment’s payout ratio is currently 19.29%.

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.