MGIC Investment Corporation $MTG Shares Sold by Measured Wealth Private Client Group LLC

Measured Wealth Private Client Group LLC trimmed its holdings in shares of MGIC Investment Corporation (NYSE:MTG) by 79.0% in the first quarter, Holdings Channel reports. The firm owned 12,411 shares of the insurance provider’s stock after selling 46,573 shares during the period. Measured Wealth Private Client Group LLC’s holdings in MGIC Investment were worth $326,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in MGIC Investment in the fourth quarter valued at about $96,248,000. AQR Capital Management LLC boosted its position in shares of 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 during the period. Arbejdsmarkedets Tillaegspension purchased a new stake in shares of MGIC Investment in the fourth quarter worth about $24,456,000. Jane Street Group LLC boosted its position in shares of MGIC Investment by 71.2% in the fourth quarter. Jane Street Group LLC now owns 1,739,877 shares of the insurance provider’s stock worth $50,839,000 after buying an additional 723,480 shares during the period. Finally, Caisse de depot et placement du Quebec grew its stake in shares of MGIC Investment by 20.4% in the third 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 buying an additional 667,876 shares in the last quarter. 95.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently commented on MTG. Royal Bank Of Canada began coverage on MGIC Investment in a report on Friday, May 22nd. They set a “sector perform” rating and a $28.00 target price on the stock. Weiss Ratings upgraded MGIC Investment from a “buy (b)” rating to a “buy (b+)” rating in a report on Tuesday, July 7th. Barclays lowered their price objective on shares of MGIC Investment from $29.00 to $28.00 and set an “equal weight” rating for the company in a research report on Friday, May 1st. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of MGIC Investment from $28.00 to $29.00 and gave the company a “market perform” rating in a research note on Friday, April 10th. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $28.25.

MGIC Investment Stock Performance

Shares of MGIC Investment stock opened at $29.05 on Thursday. The firm has a market cap of $6.14 billion, a PE ratio of 9.22, a price-to-earnings-growth ratio of 2.01 and a beta of 0.67. The firm’s 50-day simple moving average is $26.87 and its 200-day simple moving average is $26.90. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.14 and a current ratio of 1.14. MGIC Investment Corporation has a 1 year low of $24.69 and a 1 year high of $29.97.

MGIC Investment (NYSE:MTG) last issued its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $0.76 EPS for the quarter, topping the consensus estimate of $0.73 by $0.03. The business had revenue of $297.08 million for the quarter, compared to analysts’ expectations of $303.12 million. MGIC Investment had a net margin of 59.63% and a return on equity of 14.01%. The company’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.75 earnings per share. Equities analysts forecast that MGIC Investment Corporation will post 3.05 earnings per share for the current fiscal year.

MGIC Investment declared that its board has approved a share repurchase program on Thursday, April 23rd that allows the company to repurchase $750.00 million in shares. This repurchase authorization allows the insurance provider to reacquire up to 12.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity at MGIC Investment

In other news, EVP Paula C. Maggio sold 20,937 shares of MGIC Investment stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $25.55, for a total value of $534,940.35. Following the completion of the transaction, the executive vice president owned 169,620 shares in the company, valued at approximately $4,333,791. This trade represents a 10.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Salvatore A. Miosi sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $25.38, for a total value of $761,400.00. Following the completion of the sale, the chief operating officer owned 560,951 shares of the company’s stock, valued at $14,236,936.38. This trade represents a 5.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.34% of the company’s stock.

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.