296,435 MGIC Investment Corporation $MTG Shares Sold by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. cut its position in MGIC Investment Corporation (NYSE:MTG) by 69.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 131,735 shares of the insurance provider’s stock after selling 296,435 shares during the quarter. Jefferies Financial Group Inc. owned about 0.06% of MGIC Investment worth $3,404,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in MTG. Ethic Inc. increased its holdings in MGIC Investment by 3.9% in the 3rd quarter. Ethic Inc. now owns 9,402 shares of the insurance provider’s stock worth $243,000 after acquiring an additional 351 shares during the last quarter. Baird Financial Group Inc. lifted its holdings in MGIC Investment by 3.1% during the second quarter. Baird Financial Group Inc. now owns 13,092 shares of the insurance provider’s stock valued at $369,000 after purchasing an additional 392 shares during the last quarter. Compound Planning Inc. lifted its holdings in MGIC Investment by 4.3% during 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. Versant Capital Management Inc lifted its holdings in MGIC Investment by 9.4% during the third quarter. Versant Capital Management Inc now owns 5,917 shares of the insurance provider’s stock valued at $153,000 after purchasing an additional 508 shares during the last quarter. Finally, Lido Advisors LLC boosted its position in MGIC Investment by 2.4% during the first quarter. Lido Advisors LLC now owns 24,373 shares of the insurance provider’s stock worth $640,000 after purchasing an additional 574 shares during the period. Hedge funds and other institutional investors own 95.58% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on MTG. Keefe, Bruyette & Woods lifted their target price on shares of MGIC Investment from $29.00 to $30.00 and gave the stock a “market perform” rating in a research note on Friday, July 31st. BTIG Research initiated coverage on shares of MGIC Investment in a research note on Tuesday, September 22nd. They set a “hold” rating on the stock. Weiss Ratings raised shares of MGIC Investment from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday, August 19th. Zacks Research downgraded shares of MGIC Investment from a “strong-buy” rating to a “hold” rating in a report on Monday, October 19th. Finally, Royal Bank Of Canada lifted their price objective on shares of MGIC Investment from $28.00 to $32.00 and gave the company a “sector perform” rating in a research note on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $31.00.

Insider Activity at MGIC Investment

In other MGIC Investment news, COO Salvatore A. Miosi sold 30,000 shares of the stock in a transaction that occurred on 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 in the company, 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 J. Mattke sold 137,114 shares of the stock in a transaction that occurred on 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 owned 843,778 shares in the company, valued at $22,132,296.94. This represents a 13.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 197,114 shares of company stock valued at $5,300,200. 1.34% of the stock is owned by corporate insiders.

MGIC Investment Stock Down 0.5%

Shares of NYSE MTG opened at $27.73 on Friday. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.13. The company has a market cap of $5.52 billion, a P/E ratio of 8.61, a P/E/G ratio of 1.42 and a beta of 0.64. MGIC Investment Corporation has a 52 week low of $24.69 and a 52 week high of $31.89. The business has a 50-day simple moving average of $28.59 and a two-hundred day simple moving average of $27.84.

MGIC Investment (NYSE:MTG) last announced its quarterly earnings results on Wednesday, November 4th. The insurance provider reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.04. MGIC Investment had a return on equity of 13.81% and a net margin of 58.12%. The firm had revenue of $299.08 million for the quarter, compared to analysts’ expectations of $298.66 million. During the same period in the prior year, the business posted $0.83 earnings per share. The company’s revenue was down 1.8% on a year-over-year basis. Research analysts anticipate that MGIC Investment Corporation will post 3.21 earnings per share for the current fiscal year.

MGIC Investment Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 23rd. Investors of record on Thursday, November 12th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Thursday, November 12th. This represents a $0.68 annualized dividend and a yield of 2.5%. MGIC Investment’s payout ratio is currently 21.12%.

MGIC Investment Profile

MGIC Investment Corporation is a mortgage insurance company whose principal subsidiary, Mortgage Guaranty Insurance Corporation (MGIC), provides private mortgage insurance to lenders. Its coverage helps protect lenders from losses if borrowers default on their mortgages and can help qualified borrowers purchase homes with smaller down payments. Founded in 1957 by Max H. Karl, MGIC is widely recognized as a pioneer in the private mortgage insurance industry. The company serves mortgage lenders and borrowers across the United States.