UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $18.65 Million Holdings in MGIC Investment Corporation $MTG

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its holdings in MGIC Investment Corporation (NYSE:MTG) by 7.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 661,445 shares of the insurance provider’s stock after selling 50,136 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.32% of MGIC Investment worth $18,653,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. SBI Securities Co. Ltd. lifted its holdings in MGIC Investment by 40.3% during the 4th quarter. SBI Securities Co. Ltd. now owns 1,461 shares of the insurance provider’s stock valued at $43,000 after purchasing an additional 420 shares during the last quarter. Compound Planning Inc. raised its holdings in MGIC Investment by 4.3% in the 1st quarter. Compound Planning Inc. now owns 10,392 shares of the insurance provider’s stock valued at $273,000 after acquiring an additional 433 shares during the period. Oregon Public Employees Retirement Fund raised its holdings in MGIC Investment by 1.1% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 44,972 shares of the insurance provider’s stock valued at $1,181,000 after acquiring an additional 481 shares during the period. Lido Advisors LLC lifted its position in MGIC Investment by 2.2% during the fourth quarter. Lido Advisors LLC now owns 23,799 shares of the insurance provider’s stock worth $689,000 after acquiring an additional 522 shares during the last quarter. Finally, Victory Financial Group LLC boosted its holdings in shares of MGIC Investment by 1.9% during the third quarter. Victory Financial Group LLC now owns 27,994 shares of the insurance provider’s stock worth $794,000 after acquiring an additional 535 shares during the period. 95.58% of the stock is currently owned by institutional investors.

Insider Buying and Selling at MGIC Investment

In other MGIC Investment news, EVP Paula C. Maggio sold 20,000 shares of MGIC Investment stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $30.30, for a total value of $606,000.00. Following the transaction, the executive vice president owned 149,620 shares in the company, valued at $4,533,486. The trade was a 11.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at 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 MGIC Investment stock in a transaction dated 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 transaction, the chief operating officer owned 560,951 shares in the company, valued at approximately $14,236,936.38. This represents a 5.08% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 80,000 shares of company stock worth $2,289,300. Corporate insiders own 1.34% of the company’s stock.

MGIC Investment Stock Performance

MTG opened at $31.01 on Friday. The firm has a market cap of $6.36 billion, a P/E ratio of 9.69, a price-to-earnings-growth ratio of 0.80 and a beta of 0.65. The business’s fifty day moving average is $29.91 and its 200-day moving average is $27.69. MGIC Investment Corporation has a 52-week low of $24.69 and a 52-week high of $31.89. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.19 and a current ratio of 1.19.

MGIC Investment (NYSE:MTG) last announced its quarterly earnings data on Wednesday, July 29th. The insurance provider reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.11. MGIC Investment had a net margin of 59.20% and a return on equity of 13.90%. The firm had revenue of $295.39 million for the quarter, compared to the consensus estimate of $297.54 million. During the same period in the prior year, the company posted $0.82 earnings per share. The business’s revenue for the quarter was down 2.9% on a year-over-year basis. Sell-side analysts expect that MGIC Investment Corporation will post 3.24 EPS for the current fiscal year.

MGIC Investment Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Wednesday, August 5th were issued a $0.17 dividend. The ex-dividend date of this dividend was Wednesday, August 5th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.2%. This is a boost from MGIC Investment’s previous quarterly dividend of $0.15. MGIC Investment’s dividend payout ratio (DPR) is 21.25%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on MTG shares. Keefe, Bruyette & Woods increased their target price on MGIC Investment from $29.00 to $30.00 and gave the stock a “market perform” rating in a research note on Friday, July 31st. Roth Capital restated a “buy” rating and issued a $35.00 price target on shares of MGIC Investment in a research note on Thursday, July 30th. Weiss Ratings raised MGIC Investment from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday, August 19th. Royal Bank Of Canada increased their price objective on MGIC Investment from $28.00 to $32.00 and gave the stock a “sector perform” rating in a research report on Friday, July 31st. Finally, Zacks Research raised MGIC Investment from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 25th. Two investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, MGIC Investment presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.60.

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.