1,060,945 Shares in MGIC Investment Corporation $MTG Purchased by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of MGIC Investment Corporation (NYSE:MTG) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,060,945 shares of the insurance provider’s stock, valued at approximately $29,919,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned 0.52% of MGIC Investment as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in MTG. SBI Securities Co. Ltd. grew its position in shares of MGIC Investment by 40.3% in the 4th quarter. SBI Securities Co. Ltd. now owns 1,461 shares of the insurance provider’s stock worth $43,000 after buying an additional 420 shares during the period. Compound Planning Inc. boosted its stake in MGIC Investment by 4.3% during the first quarter. Compound Planning Inc. now owns 10,392 shares of the insurance provider’s stock worth $273,000 after acquiring an additional 433 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its stake in MGIC Investment by 1.1% during the first quarter. Oregon Public Employees Retirement Fund now owns 44,972 shares of the insurance provider’s stock worth $1,181,000 after acquiring an additional 481 shares in the last quarter. Lido Advisors LLC grew its holdings in MGIC Investment by 2.2% in the fourth quarter. Lido Advisors LLC now owns 23,799 shares of the insurance provider’s stock worth $689,000 after purchasing an additional 522 shares during the period. Finally, Victory Financial Group LLC grew its holdings in MGIC Investment by 1.9% in the third quarter. Victory Financial Group LLC now owns 27,994 shares of the insurance provider’s stock worth $794,000 after purchasing an additional 535 shares during the period. Institutional investors own 95.58% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on MTG shares. Royal Bank Of Canada boosted their price target 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. Roth Capital reiterated a “buy” rating and set a $35.00 price objective 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. Zacks Research raised MGIC Investment from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 25th. Finally, Keefe, Bruyette & Woods raised their price target on MGIC Investment from $29.00 to $30.00 and gave the company a “market perform” rating in a report on Friday, July 31st. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $30.60.

MGIC Investment Stock Performance

MTG stock opened at $31.01 on Tuesday. The stock’s 50 day simple moving average is $29.96 and its 200 day simple moving average is $27.72. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.13. MGIC Investment Corporation has a 12-month low of $24.69 and a 12-month high of $31.89. The stock has a market capitalization of $6.36 billion, a PE ratio of 9.69, a price-to-earnings-growth ratio of 0.79 and a beta of 0.65.

MGIC Investment (NYSE:MTG) last posted its earnings results on Wednesday, July 29th. The insurance provider reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.11. MGIC Investment had a return on equity of 13.90% and a net margin of 59.20%.The business had revenue of $295.39 million during the quarter, compared to analyst estimates of $297.54 million. During the same quarter last year, the company earned $0.82 EPS. The company’s quarterly revenue was down 2.9% compared to the same quarter last year. As a group, research analysts forecast that MGIC Investment Corporation will post 3.24 earnings per share 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 given a $0.17 dividend. This is a positive change from MGIC Investment’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Wednesday, August 5th. This represents a $0.68 dividend on an annualized basis and a yield of 2.2%. MGIC Investment’s payout ratio is presently 21.25%.

Insider Transactions at MGIC Investment

In other MGIC Investment news, COO Salvatore Miosi sold 30,000 shares of the company’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $30.73, for a total transaction of $921,900.00. Following the transaction, the chief operating officer owned 470,951 shares in the company, valued at approximately $14,472,324.23. This represents a 5.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Paula Maggio sold 20,000 shares of MGIC Investment stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $30.30, for a total transaction of $606,000.00. Following the completion of the sale, the executive vice president owned 149,620 shares of the company’s stock, valued at $4,533,486. This represents a 11.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.34% of the stock is currently owned by insiders.

MGIC Investment Profile

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.