Intech Investment Management LLC Invests $1.44 Million in MGIC Investment Corporation $MTG

Intech Investment Management LLC bought a new position in shares of MGIC Investment Corporation (NYSE:MTG) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 50,890 shares of the insurance provider’s stock, valued at approximately $1,444,000.

Several other institutional investors also recently bought and sold shares of the stock. Alpine Bank Wealth Management acquired a new position in MGIC Investment in the third quarter valued at approximately $28,000. True Wealth Design LLC grew its stake in shares of MGIC Investment by 262.5% during the 2nd quarter. True Wealth Design LLC now owns 1,004 shares of the insurance provider’s stock worth $28,000 after purchasing an additional 727 shares during the period. SBI Securities Co. Ltd. increased its holdings in shares of MGIC Investment by 61.1% during the 3rd quarter. SBI Securities Co. Ltd. now owns 1,041 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 395 shares in the last quarter. Hantz Financial Services Inc. lifted its stake in shares of MGIC Investment by 3,067.6% in the 2nd quarter. Hantz Financial Services Inc. now owns 1,077 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 1,043 shares during the period. Finally, Employees Retirement System of Texas purchased a new stake in MGIC Investment during the second quarter worth $32,000. 95.58% of the stock is currently owned by hedge funds and other institutional investors.

MGIC Investment Price Performance

MGIC Investment stock opened at $26.60 on Friday. The stock has a market capitalization of $5.72 billion, a P/E ratio of 8.47, a P/E/G ratio of 2.12 and a beta of 0.83. The company’s fifty day moving average price is $27.17 and its 200 day moving average price is $27.76. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.52 and a current ratio of 1.52. MGIC Investment Corporation has a 1 year low of $21.94 and a 1 year high of $29.97.

MGIC Investment (NYSE:MTG) last posted its quarterly earnings data on Monday, February 2nd. The insurance provider reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.02. MGIC Investment had a net margin of 60.84% and a return on equity of 14.33%. MGIC Investment’s revenue for the quarter was down .9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.72 earnings per share. As a group, equities research analysts anticipate that MGIC Investment Corporation will post 2.71 earnings per share for the current fiscal year.

MGIC Investment Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 6th. Investors of record on Tuesday, February 17th were paid a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, February 17th. This represents a $0.60 dividend on an annualized basis and a yield of 2.3%. MGIC Investment’s dividend payout ratio (DPR) is currently 19.11%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Keefe, Bruyette & Woods lifted their price objective on shares of MGIC Investment from $27.00 to $28.00 and gave the company a “market perform” rating in a report on Thursday, December 18th. Barclays dropped their target price on MGIC Investment from $30.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 4th. Finally, Weiss Ratings lowered MGIC Investment from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Thursday, February 5th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, MGIC Investment has a consensus rating of “Hold” and an average price target of $28.00.

Insider Buying and Selling

In other MGIC Investment news, COO Salvatore A. Miosi sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $27.27, for a total transaction of $818,100.00. Following the completion of the sale, the chief operating officer directly owned 454,245 shares in the company, valued at approximately $12,387,261.15. The trade was a 6.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Paula C. Maggio sold 20,000 shares of the stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $27.51, for a total value of $550,200.00. Following the transaction, the executive vice president directly owned 114,689 shares of the company’s stock, valued at $3,155,094.39. The trade was a 14.85% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 189,203 shares of company stock worth $5,058,572. Insiders own 1.05% 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.