Militia Capital Management LLC Purchases Shares of 30,000 MGIC Investment Corporation $MTG

Militia Capital Management LLC acquired a new stake in shares of MGIC Investment Corporation (NYSE:MTG) in the 1st quarter, Holdings Channel.com reports. The fund acquired 30,000 shares of the insurance provider’s stock, valued at approximately $788,000.

Other institutional investors have also recently made changes to their positions in the company. Jefferies Financial Group Inc. raised its stake in MGIC Investment by 245.3% in the 4th quarter. Jefferies Financial Group Inc. now owns 364,650 shares of the insurance provider’s stock worth $10,655,000 after purchasing an additional 259,039 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of MGIC Investment by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 5,371,470 shares of the insurance provider’s stock worth $163,368,000 after purchasing an additional 146,589 shares during the period. Arbejdsmarkedets Tillaegspension acquired a new stake in shares of MGIC Investment in the fourth quarter valued at approximately $24,456,000. Norges Bank bought a new stake in shares of MGIC Investment in the fourth quarter valued at approximately $96,248,000. Finally, Assetmark Inc. grew its position in MGIC Investment by 21.8% during the fourth quarter. Assetmark Inc. now owns 2,038,558 shares of the insurance provider’s stock worth $59,567,000 after buying an additional 364,406 shares in the last quarter. Hedge funds and other institutional investors own 95.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on MTG. Keefe, Bruyette & Woods lifted their price objective on MGIC Investment from $28.00 to $29.00 and gave the company a “market perform” rating in a report on Friday, April 10th. Royal Bank Of Canada assumed coverage on MGIC Investment in a research report on Friday, May 22nd. They issued a “sector perform” rating and a $28.00 price target on the stock. Weiss Ratings raised shares of MGIC Investment from a “buy (b)” rating to a “buy (b+)” rating in a research report on Tuesday, July 7th. Finally, Barclays decreased their target price on shares of MGIC Investment from $29.00 to $28.00 and set an “equal weight” rating on the stock in a report on Friday, May 1st. One equities research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $28.25.

Insiders Place Their Bets

In other MGIC Investment news, EVP Paula C. Maggio sold 20,937 shares of the stock in a transaction dated 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 directly owned 169,620 shares in the company, valued at approximately $4,333,791. This trade represents a 10.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 dated Monday, June 8th. The stock was sold at an average price of $25.38, for a total value of $761,400.00. Following the sale, the chief operating officer owned 560,951 shares in the company, valued at approximately $14,236,936.38. This trade represents a 5.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.34% of the stock is currently owned by corporate insiders.

MGIC Investment Trading Down 0.2%

MTG opened at $28.99 on Friday. The company has a market cap of $6.13 billion, a P/E ratio of 9.20, a PEG ratio of 2.00 and a beta of 0.67. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.13. The company’s 50 day moving average is $26.93 and its 200-day moving average is $26.90. 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 data on Wednesday, April 29th. The insurance provider reported $0.76 EPS for the quarter, beating the consensus estimate of $0.73 by $0.03. The business had revenue of $297.08 million during the quarter, compared to the consensus estimate of $303.12 million. MGIC Investment had a net margin of 59.63% and a return on equity of 14.01%. The firm’s revenue was down 3.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.75 EPS. Equities research analysts predict that MGIC Investment Corporation will post 3.05 earnings per share for the current fiscal year.

MGIC Investment Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Wednesday, August 5th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 2.3%. This is a boost from MGIC Investment’s previous quarterly dividend of $0.15. The ex-dividend date is Wednesday, August 5th. MGIC Investment’s dividend payout ratio (DPR) is currently 19.05%.

MGIC Investment declared that its Board of Directors has initiated a stock buyback plan on Thursday, April 23rd that allows the company to repurchase $750.00 million in shares. This repurchase authorization allows the insurance provider to purchase up to 12.4% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

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.