MGIC Investment Corporation $MTG Stock Sold by Leeward Investments LLC MA

Leeward Investments LLC MA trimmed its holdings in MGIC Investment Corporation (NYSE:MTG) by 5.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 523,109 shares of the insurance provider’s stock after selling 30,272 shares during the period. Leeward Investments LLC MA owned about 0.26% of MGIC Investment worth $13,517,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Elevation Wealth Partners LLC grew its position in shares of MGIC Investment by 345.6% during the third quarter. Elevation Wealth Partners LLC now owns 1,123 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 871 shares in the last quarter. V Square Quantitative Management LLC raised its stake in MGIC Investment by 91.2% during the 3rd quarter. V Square Quantitative Management LLC now owns 1,363 shares of the insurance provider’s stock valued at $35,000 after purchasing an additional 650 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in MGIC Investment in the 2nd quarter worth approximately $62,000. Harbor Investment Advisory LLC lifted its holdings in MGIC Investment by 613.0% in the 2nd quarter. Harbor Investment Advisory LLC now owns 2,574 shares of the insurance provider’s stock worth $73,000 after purchasing an additional 2,213 shares in the last quarter. Finally, Root Financial Partners LLC purchased a new position in MGIC Investment in the 3rd quarter worth approximately $76,000. 95.58% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Timothy J. Mattke sold 137,114 shares of the stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $26.23, for a total transaction of $3,596,500.22. Following the completion of the transaction, the chief executive officer directly owned 843,778 shares in the company, valued at approximately $22,132,296.94. This represents a 13.98% decrease in their position. The transaction 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 stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $26.06, for a total value of $781,800.00. Following the transaction, the chief operating officer owned 440,951 shares of the company’s stock, valued at $11,491,183.06. This represents a 6.37% 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. Insiders have sold a total of 217,114 shares of company stock valued at $5,906,200 in the last quarter. 1.34% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on MTG shares. Roth Capital reaffirmed a “buy” rating and set a $35.00 price objective on shares of MGIC Investment in a report on Thursday, July 30th. Keefe, Bruyette & Woods lifted their price objective on shares of MGIC Investment from $29.00 to $30.00 and gave the company a “market perform” rating in a research report on Friday, July 31st. Weiss Ratings raised shares of MGIC Investment from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday, August 19th. BTIG Research began coverage on shares of MGIC Investment in a research report on Tuesday, September 22nd. They set a “hold” rating for the company. Finally, Zacks Research lowered shares of MGIC Investment from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 19th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $30.80.

MGIC Investment Trading Down 0.1%

Shares of MTG stock opened at $28.77 on Monday. MGIC Investment Corporation has a 12-month low of $24.69 and a 12-month high of $31.89. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.13. The stock’s 50-day moving average price is $29.27 and its 200-day moving average price is $28.24. The stock has a market capitalization of $5.90 billion, a price-to-earnings ratio of 8.99, a price-to-earnings-growth ratio of 1.02 and a beta of 0.67.

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. The company had revenue of $295.39 million for the quarter, compared to the consensus estimate of $297.54 million. MGIC Investment had a return on equity of 13.90% and a net margin of 59.20%. The firm’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.82 earnings per share. Equities research analysts predict that MGIC Investment Corporation will post 3.22 EPS for the current fiscal year.

About MGIC Investment

MGIC Investment Corporation (NYSE:MTG) is a holding company whose principal subsidiary is Mortgage Guaranty Insurance Corporation (MGIC), a provider of private mortgage insurance in the United States. MGIC’s insurance helps protect mortgage lenders and investors against losses when borrowers default, enabling qualified homebuyers to obtain mortgages with smaller down payments.

MGIC primarily offers primary mortgage insurance for residential loans, working with mortgage lenders, banks and other housing-finance institutions.