217,562 Shares in MGIC Investment Corporation $MTG Purchased by Man Group plc

Man Group plc acquired a new position in MGIC Investment Corporation (NYSE:MTG) during the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 217,562 shares of the insurance provider’s stock, valued at approximately $6,135,000.

A number of other large investors have also recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. increased its holdings in MGIC Investment by 40.3% during the 4th quarter. SBI Securities Co. Ltd. now owns 1,461 shares of the insurance provider’s stock valued at $43,000 after acquiring an additional 420 shares in the last quarter. Compound Planning Inc. grew its position in shares of MGIC Investment by 4.3% in the first quarter. Compound Planning Inc. now owns 10,392 shares of the insurance provider’s stock valued at $273,000 after purchasing an additional 433 shares during the last quarter. Oregon Public Employees Retirement Fund grew its position in shares of MGIC Investment by 1.1% in the first quarter. Oregon Public Employees Retirement Fund now owns 44,972 shares of the insurance provider’s stock valued at $1,181,000 after purchasing an additional 481 shares during the last quarter. Lido Advisors LLC increased its stake in shares of MGIC Investment by 2.2% during the 4th quarter. Lido Advisors LLC now owns 23,799 shares of the insurance provider’s stock worth $689,000 after purchasing an additional 522 shares in the last quarter. Finally, Victory Financial Group LLC increased its stake 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 worth $794,000 after purchasing an additional 535 shares in the last quarter. 95.58% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at MGIC Investment

In other news, EVP Paula C. Maggio sold 20,000 shares of the firm’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $30.30, for a total transaction of $606,000.00. Following the sale, the executive vice president owned 149,620 shares in the company, valued at $4,533,486. This trade represents a 11.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Salvatore A. Miosi sold 30,000 shares of MGIC Investment stock in a transaction on Monday, June 8th. The shares were sold at an average price of $25.38, for a total value of $761,400.00. Following the completion of the sale, the chief operating officer directly owned 560,951 shares of the company’s stock, valued at approximately $14,236,936.38. This represents a 5.08% decrease in their position. 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 company insiders.

MGIC Investment Stock Performance

Shares of NYSE MTG opened at $31.08 on Friday. The company has a 50-day simple moving average of $29.51 and a 200-day simple moving average of $27.55. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.19 and a quick ratio of 1.19. The company has a market cap of $6.38 billion, a PE ratio of 9.71, a price-to-earnings-growth ratio of 0.79 and a beta of 0.66. MGIC Investment Corporation has a 12 month low of $24.69 and a 12 month high of $31.89.

MGIC Investment (NYSE:MTG) last announced its quarterly earnings data on Wednesday, July 29th. The insurance provider reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.11. MGIC Investment had a net margin of 59.20% and a return on equity of 13.90%. The business had revenue of $295.39 million for the quarter, compared to the consensus estimate of $297.54 million. During the same quarter in the prior year, the firm posted $0.82 earnings per share. The company’s quarterly revenue was down 2.9% compared to the same quarter last year. On average, equities analysts anticipate that MGIC Investment Corporation will post 3.24 earnings per share for the current year.

MGIC Investment Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Wednesday, August 5th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Wednesday, August 5th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.2%. This is a boost from MGIC Investment’s previous quarterly dividend of $0.15. MGIC Investment’s dividend payout ratio is currently 21.25%.

Analyst Ratings Changes

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

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.