MGIC Investment Corporation $MTG Stock Sold by Leeward Investments LLC MA

Leeward Investments LLC MA cut its holdings in MGIC Investment Corporation (NYSE:MTG) by 5.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 523,109 shares of the insurance provider’s stock after selling 30,272 shares during the period. Leeward Investments LLC MA’s holdings in MGIC Investment were worth $13,517,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. NewEdge Advisors LLC grew its position in MGIC Investment by 126.3% in the second quarter. NewEdge Advisors LLC now owns 319,592 shares of the insurance provider’s stock worth $9,012,000 after acquiring an additional 178,381 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in MGIC Investment during the second quarter worth approximately $29,919,000. WINTON GROUP Ltd increased its stake in MGIC Investment by 317.3% during the second quarter. WINTON GROUP Ltd now owns 189,475 shares of the insurance provider’s stock worth $5,343,000 after acquiring an additional 144,073 shares during the last quarter. The Manufacturers Life Insurance Company bought a new stake in MGIC Investment during the second quarter worth approximately $4,191,000. Finally, Hsbc Holdings PLC raised its position in MGIC Investment by 24.5% during the fourth quarter. Hsbc Holdings PLC now owns 207,412 shares of the insurance provider’s stock valued at $6,089,000 after purchasing an additional 40,751 shares during the period. 95.58% of the stock is currently owned by hedge funds and other institutional investors.

MGIC Investment Price Performance

MGIC Investment stock opened at $28.77 on Monday. The firm has a 50-day moving average price of $29.27 and a 200-day moving average price of $28.24. The firm has a market capitalization of $5.90 billion, a PE ratio of 8.99, a price-to-earnings-growth ratio of 1.02 and a beta of 0.67. 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 Corporation has a 12-month low of $24.69 and a 12-month high of $31.89.

MGIC Investment (NYSE:MTG) last released its quarterly earnings results on Wednesday, July 29th. The insurance provider reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.11. MGIC Investment had a net margin of 59.20% and a return on equity of 13.90%. The firm had revenue of $295.39 million during the quarter, compared to analysts’ expectations of $297.54 million. During the same period in the previous year, the company earned $0.82 EPS. The firm’s revenue for the quarter was down 2.9% compared to the same quarter last year. As a group, equities research analysts forecast that MGIC Investment Corporation will post 3.22 EPS for the current year.

Insider Buying and Selling

In related news, COO Salvatore Miosi sold 30,000 shares of the stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $26.06, for a total value of $781,800.00. Following the sale, the chief operating officer directly owned 440,951 shares of the company’s stock, valued at $11,491,183.06. This represents a 6.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Timothy Mattke sold 137,114 shares of the firm’s stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $26.23, for a total transaction of $3,596,500.22. Following the completion of the sale, the chief executive officer directly owned 843,778 shares of the company’s stock, valued at approximately $22,132,296.94. The trade was a 13.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 217,114 shares of company stock valued at $5,906,200 in the last ninety days. 1.34% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Weiss Ratings upgraded MGIC Investment from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday, August 19th. Barclays lifted their target price on MGIC Investment from $28.00 to $29.00 and gave the stock an “equal weight” rating in a report on Monday, October 5th. BTIG Research started coverage on MGIC Investment in a research report on Tuesday, September 22nd. They set a “hold” rating on the stock. Royal Bank Of Canada boosted their target price on MGIC Investment from $28.00 to $32.00 and gave the company a “sector perform” rating in a research report on Friday, July 31st. Finally, Keefe, Bruyette & Woods increased their price target on MGIC Investment from $29.00 to $30.00 and gave the company a “market perform” rating in a report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, MGIC Investment presently has an average rating of “Hold” and a consensus target price of $30.80.

About MGIC Investment

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 protect mortgage lenders and investors against losses when borrowers default, enabling qualified homebuyers to obtain mortgages with smaller down payments.

MGIC primarily offers primary mortgage insurance for residential loans, working with mortgage lenders, banks and other housing-finance institutions.