MGIC Investment Co. (NYSE:MTG) CAO Sells $112,930.00 in Stock

MGIC Investment Co. (NYSE:MTG) CAO Julie K. Sperber sold 4,600 shares of MGIC Investment stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $24.55, for a total value of $112,930.00. Following the completion of the sale, the chief accounting officer now owns 75,070 shares of the company’s stock, valued at $1,842,968.50. The trade was a 5.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

MGIC Investment Stock Down 1.9 %

MTG stock opened at $23.97 on Monday. MGIC Investment Co. has a twelve month low of $18.98 and a twelve month high of $26.56. The company has a quick ratio of 1.25, a current ratio of 0.48 and a debt-to-equity ratio of 0.12. The stock has a market cap of $6.07 billion, a P/E ratio of 8.26 and a beta of 1.29. The business’s 50-day moving average price is $24.34 and its 200-day moving average price is $24.79.

MGIC Investment (NYSE:MTG) last posted its quarterly earnings data on Monday, February 3rd. The insurance provider reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.07. MGIC Investment had a return on equity of 14.86% and a net margin of 63.18%. On average, equities research analysts forecast that MGIC Investment Co. will post 2.71 EPS for the current year.

MGIC Investment Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 5th. Investors of record on Tuesday, February 18th will be issued a $0.13 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $0.52 dividend on an annualized basis and a yield of 2.17%. MGIC Investment’s dividend payout ratio is presently 17.93%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Hara Capital LLC purchased a new position in MGIC Investment in the 3rd quarter worth approximately $25,000. UMB Bank n.a. lifted its holdings in MGIC Investment by 131.9% in the 4th quarter. UMB Bank n.a. now owns 1,649 shares of the insurance provider’s stock worth $39,000 after purchasing an additional 938 shares in the last quarter. Venturi Wealth Management LLC lifted its holdings in MGIC Investment by 102.1% in the 4th quarter. Venturi Wealth Management LLC now owns 1,817 shares of the insurance provider’s stock worth $43,000 after purchasing an additional 918 shares in the last quarter. V Square Quantitative Management LLC lifted its holdings in MGIC Investment by 61.9% in the 4th quarter. V Square Quantitative Management LLC now owns 2,077 shares of the insurance provider’s stock worth $49,000 after purchasing an additional 794 shares in the last quarter. Finally, Physician Wealth Advisors Inc. purchased a new position in MGIC Investment in the 4th quarter worth approximately $54,000. 95.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on MTG shares. Keefe, Bruyette & Woods reduced their price objective on MGIC Investment from $29.00 to $28.00 and set a “market perform” rating for the company in a report on Wednesday, January 8th. Compass Point reissued a “neutral” rating and issued a $27.00 target price (up from $24.00) on shares of MGIC Investment in a research report on Wednesday, February 5th. UBS Group raised their target price on MGIC Investment from $25.00 to $26.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Royal Bank of Canada dropped their target price on MGIC Investment from $28.00 to $27.00 and set a “sector perform” rating on the stock in a research report on Wednesday, November 6th. Finally, Barclays raised their target price on MGIC Investment from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $26.75.

MGIC Investment Company Profile

MGIC Investment Corporation, through its subsidiaries, provides private mortgage insurance, other mortgage credit risk management solutions, and ancillary services to lenders and government sponsored entities in the United States, the District of Columbia, Puerto Rico, and Guam. The company offers primary mortgage insurance that provides mortgage default protection on individual loans, as well as covers unpaid loan principal, delinquent interest, and various expenses associated with the default and subsequent foreclosure.