WINTON GROUP Ltd Boosts Stock Holdings in MGIC Investment Corporation $MTG

WINTON GROUP Ltd lifted its position in shares of MGIC Investment Corporation (NYSE:MTG) by 317.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 189,475 shares of the insurance provider’s stock after acquiring an additional 144,073 shares during the period. WINTON GROUP Ltd owned approximately 0.09% of MGIC Investment worth $5,343,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MTG. Baird Financial Group Inc. increased its holdings in shares of MGIC Investment by 3.1% in the 2nd quarter. Baird Financial Group Inc. now owns 13,092 shares of the insurance provider’s stock worth $369,000 after purchasing an additional 392 shares in the last quarter. Compound Planning Inc. raised its position in MGIC Investment by 4.3% in the 1st quarter. Compound Planning Inc. now owns 10,392 shares of the insurance provider’s stock worth $273,000 after buying an additional 433 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its stake in MGIC Investment by 1.1% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 44,972 shares of the insurance provider’s stock valued at $1,181,000 after acquiring an additional 481 shares during the period. Lido Advisors LLC lifted its stake in MGIC Investment by 2.2% during the 4th quarter. Lido Advisors LLC now owns 23,799 shares of the insurance provider’s stock valued at $689,000 after acquiring an additional 522 shares during the period. Finally, Victory Financial Group LLC boosted its holdings in shares of MGIC Investment by 1.9% during the 3rd quarter. Victory Financial Group LLC now owns 27,994 shares of the insurance provider’s stock valued at $794,000 after acquiring an additional 535 shares during the last quarter. 95.58% of the stock is owned by institutional investors.

MGIC Investment Stock Down 0.0%

MTG opened at $30.86 on Friday. The firm’s 50 day simple moving average is $30.12 and its two-hundred day simple moving average is $27.82. The company has a market capitalization of $6.33 billion, a PE ratio of 9.65, a PEG ratio of 0.78 and a beta of 0.65. MGIC Investment Corporation has a 1-year low of $24.69 and a 1-year 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.

MGIC Investment (NYSE:MTG) last posted its quarterly earnings data on Wednesday, July 29th. The insurance provider reported $0.87 EPS for the quarter, topping the consensus estimate of $0.76 by $0.11. MGIC Investment had a return on equity of 13.90% and a net margin of 59.20%.The firm had revenue of $295.39 million during the quarter, compared to analyst estimates of $297.54 million. During the same period in the prior year, the business posted $0.82 EPS. MGIC Investment’s revenue was down 2.9% on a year-over-year basis. As a group, equities analysts forecast that MGIC Investment Corporation will post 3.24 EPS for the current year.

MGIC Investment Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Wednesday, August 5th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 2.2%. This is an increase from MGIC Investment’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Wednesday, August 5th. MGIC Investment’s dividend payout ratio is 21.25%.

Insider Transactions at MGIC Investment

In other MGIC Investment news, EVP Paula C. Maggio sold 20,000 shares of the stock in a transaction on Friday, August 7th. The stock was sold at an average price of $30.30, for a total value of $606,000.00. Following the completion of the sale, the executive vice president owned 149,620 shares in the company, valued at approximately $4,533,486. This represents a 11.79% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible 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 business’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $30.73, for a total value of $921,900.00. Following the completion of the transaction, the chief operating officer directly owned 470,951 shares in the company, valued at approximately $14,472,324.23. This represents a 5.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.34% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Weiss Ratings upgraded shares of MGIC Investment from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday, August 19th. Zacks Research upgraded shares of MGIC Investment from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 25th. Roth Capital reaffirmed a “buy” rating and issued a $35.00 target price on shares of MGIC Investment in a research report on Thursday, July 30th. Royal Bank Of Canada lifted their target price on shares of MGIC Investment from $28.00 to $32.00 and gave the stock a “sector perform” rating in a research report on Friday, July 31st. Finally, Keefe, Bruyette & Woods boosted their target price on shares of MGIC Investment from $29.00 to $30.00 and gave the company a “market perform” rating in a research note on Friday, July 31st. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, MGIC Investment has a consensus rating of “Moderate Buy” and an average price target of $30.60.

MGIC Investment Company Profile

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 lenders manage the risk associated with residential mortgages made to borrowers who have limited down payments, allowing qualified homebuyers to obtain financing with less than 20% down.

MGIC primarily offers primary mortgage insurance to mortgage lenders, banks, credit unions and other residential lending institutions.