EagleClaw Capital Managment LLC Has $2.55 Million Position in MGIC Investment Corporation $MTG

EagleClaw Capital Managment LLC grew its stake in MGIC Investment Corporation (NYSE:MTG) by 36.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 89,800 shares of the insurance provider’s stock after buying an additional 24,000 shares during the period. EagleClaw Capital Managment LLC’s holdings in MGIC Investment were worth $2,548,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Alpine Bank Wealth Management bought a new stake in MGIC Investment in the third quarter valued at approximately $28,000. Newbridge Financial Services Group Inc. bought a new position in MGIC Investment during the 3rd quarter worth approximately $28,000. SBI Securities Co. Ltd. lifted its position in shares of MGIC Investment by 61.1% in the 3rd quarter. SBI Securities Co. Ltd. now owns 1,041 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 395 shares during the period. Employees Retirement System of Texas bought a new stake in shares of MGIC Investment in the 2nd quarter valued at $32,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of MGIC Investment by 118.0% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,308 shares of the insurance provider’s stock worth $36,000 after buying an additional 708 shares during the period. 95.58% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on MTG shares. UBS Group lowered their target price on shares of MGIC Investment from $29.50 to $28.00 and set a “neutral” rating for the company in a research note on Thursday. Keefe, Bruyette & Woods increased their price target on MGIC Investment from $27.00 to $28.00 and gave the stock a “market perform” rating in a report on Thursday, December 18th. Barclays dropped their price objective on MGIC Investment from $30.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 4th. Finally, Weiss Ratings lowered MGIC Investment from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Thursday, February 5th. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $28.00.

Insider Buying and Selling at MGIC Investment

In other MGIC Investment news, CEO Timothy J. Mattke sold 139,203 shares of the firm’s stock in a transaction on Tuesday, January 13th. The shares were sold at an average price of $26.51, for a total value of $3,690,271.53. Following the transaction, the chief executive officer directly owned 822,588 shares of the company’s stock, valued at approximately $21,806,807.88. This trade represents a 14.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Paula C. Maggio sold 20,000 shares of MGIC Investment stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $27.51, for a total transaction of $550,200.00. Following the transaction, the executive vice president owned 114,689 shares of the company’s stock, valued at $3,155,094.39. This represents a 14.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 189,203 shares of company stock valued at $5,058,572. Corporate insiders own 1.05% of the company’s stock.

MGIC Investment Stock Down 0.4%

Shares of NYSE:MTG opened at $26.01 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.52 and a current ratio of 1.52. MGIC Investment Corporation has a 52-week low of $21.94 and a 52-week high of $29.97. The business’s 50 day simple moving average is $26.85 and its two-hundred day simple moving average is $27.71. The firm has a market cap of $5.59 billion, a P/E ratio of 8.28, a PEG ratio of 2.07 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. MGIC Investment had a return on equity of 14.33% and a net margin of 60.84%.During the same quarter in the prior year, the business earned $0.72 earnings per share. The business’s quarterly revenue was down .9% on a year-over-year basis. As a group, research analysts forecast that MGIC Investment Corporation will post 2.71 EPS for the current fiscal year.

MGIC Investment Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 6th. Shareholders of record on Tuesday, February 17th were issued a dividend of $0.15 per share. The ex-dividend date was Tuesday, February 17th. This represents a $0.60 annualized dividend and a yield of 2.3%. MGIC Investment’s dividend payout ratio is presently 19.11%.

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.