Julie K. Sperber Sells 4,600 Shares of MGIC Investment Co. (NYSE:MTG) Stock

MGIC Investment Co. (NYSE:MTG) CAO Julie K. Sperber sold 4,600 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $24.55, for a total value of $112,930.00. Following the completion of the transaction, the chief accounting officer now directly owns 75,070 shares of the company’s stock, valued at $1,842,968.50. This represents a 5.77 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

MGIC Investment Stock Performance

NYSE:MTG opened at $23.97 on Friday. The company has a market capitalization of $6.07 billion, a PE ratio of 8.26 and a beta of 1.29. The company has a 50 day simple moving average of $24.34 and a two-hundred day simple moving average of $24.78. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.25 and a current ratio of 0.48. MGIC Investment Co. has a fifty-two week low of $18.98 and a fifty-two week high of $26.56.

MGIC Investment (NYSE:MTG) last released its earnings results 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 net margin of 63.18% and a return on equity of 14.86%. Research analysts anticipate that MGIC Investment Co. will post 2.71 earnings per share for the current year.

MGIC Investment Dividend Announcement

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

Hedge Funds Weigh In On MGIC Investment

Institutional investors and hedge funds have recently modified their holdings of the business. Hara Capital LLC bought a new position in shares of MGIC Investment during the 3rd quarter worth approximately $25,000. UMB Bank n.a. boosted its holdings in shares of MGIC Investment by 131.9% during the 4th quarter. UMB Bank n.a. now owns 1,649 shares of the insurance provider’s stock worth $39,000 after buying an additional 938 shares in the last quarter. Venturi Wealth Management LLC lifted its holdings in shares of 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 shares of 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. bought a new position in shares of MGIC Investment in the 4th quarter worth $54,000. 95.58% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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