MGIC Investment (NYSE:MTG) COO Sells $818,100.00 in Stock

MGIC Investment Corporation (NYSE:MTG) COO Salvatore Miosi sold 30,000 shares of MGIC Investment stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $27.27, for a total value of $818,100.00. Following the transaction, the chief operating officer owned 454,245 shares of the company’s stock, valued at $12,387,261.15. This represents a 6.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

MGIC Investment Trading Up 2.4%

Shares of MGIC Investment stock opened at $27.25 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.78 and a quick ratio of 1.48. The business has a fifty day simple moving average of $28.11 and a two-hundred day simple moving average of $27.73. MGIC Investment Corporation has a 1 year low of $21.94 and a 1 year high of $29.97. The company has a market capitalization of $6.10 billion, a price-to-earnings ratio of 8.68, a P/E/G ratio of 2.11 and a beta of 0.83.

MGIC Investment (NYSE:MTG) last released its quarterly earnings data on Monday, February 2nd. The insurance provider reported $0.75 EPS for the quarter, beating the consensus estimate of $0.73 by $0.02. The firm had revenue of $298.65 million for the quarter, compared to the consensus estimate of $308.19 million. MGIC Investment had a net margin of 60.84% and a return on equity of 14.33%. The company’s quarterly revenue was down .9% on a year-over-year basis. During the same period in the previous year, the company earned $0.72 earnings per share. Research analysts forecast that MGIC Investment Corporation will post 2.71 EPS for the current year.

MGIC Investment Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Shareholders of record on Tuesday, February 17th will be given a dividend of $0.15 per share. The ex-dividend date is Tuesday, February 17th. This represents a $0.60 annualized dividend and a yield of 2.2%. MGIC Investment’s dividend payout ratio (DPR) is 19.11%.

Analyst Ratings Changes

Several research firms have recently commented on MTG. Barclays decreased 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. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of MGIC Investment in a report on Thursday, January 22nd. Finally, Keefe, Bruyette & Woods increased their price objective on MGIC Investment from $27.00 to $28.00 and gave the stock a “market perform” rating in a research report on Thursday, December 18th. One equities research analyst has rated the stock with a Strong Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $27.50.

Institutional Investors Weigh In On MGIC Investment

A number of large investors have recently added to or reduced their stakes in MTG. Spectrum Strategic Capital Management LLC acquired a new position in MGIC Investment in the 4th quarter valued at $569,000. North Dakota State Investment Board bought a new position in shares of MGIC Investment in the fourth quarter worth $241,000. Arbejdsmarkedets Tillaegspension acquired a new position in MGIC Investment in the fourth quarter valued at about $24,456,000. Avantax Planning Partners Inc. lifted its position in MGIC Investment by 27.5% during the fourth quarter. Avantax Planning Partners Inc. now owns 9,138 shares of the insurance provider’s stock worth $267,000 after purchasing an additional 1,969 shares during the period. Finally, Allworth Financial LP lifted its position in MGIC Investment by 74.7% during the fourth quarter. Allworth Financial LP now owns 8,075 shares of the insurance provider’s stock worth $236,000 after purchasing an additional 3,452 shares during the period. Institutional investors and hedge funds own 95.58% 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.