Measured Wealth Private Client Group LLC Decreases Stock Position in MGIC Investment Corporation $MTG

Measured Wealth Private Client Group LLC trimmed its holdings in MGIC Investment Corporation (NYSE:MTG) by 79.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 12,411 shares of the insurance provider’s stock after selling 46,573 shares during the period. Measured Wealth Private Client Group LLC’s holdings in MGIC Investment were worth $326,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Newbridge Financial Services Group Inc. purchased a new stake in shares of MGIC Investment in the third quarter valued at about $28,000. V Square Quantitative Management LLC purchased a new position in shares of MGIC Investment during the 4th quarter worth approximately $36,000. SBI Securities Co. Ltd. increased its stake in shares of MGIC Investment by 40.3% during the 4th quarter. SBI Securities Co. Ltd. now owns 1,461 shares of the insurance provider’s stock worth $43,000 after purchasing an additional 420 shares in the last quarter. Geneos Wealth Management Inc. increased its stake in shares of MGIC Investment by 88.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,745 shares of the insurance provider’s stock worth $43,000 after purchasing an additional 817 shares in the last quarter. Finally, Kestra Advisory Services LLC acquired a new position in shares of MGIC Investment during the 4th quarter worth approximately $79,000. 95.58% of the stock is currently owned by hedge funds and other institutional investors.

MGIC Investment Price Performance

MTG opened at $29.05 on Thursday. MGIC Investment Corporation has a 1 year low of $24.69 and a 1 year high of $29.97. The company’s 50 day simple moving average is $26.87 and its 200 day simple moving average is $26.90. The stock has a market capitalization of $6.14 billion, a PE ratio of 9.22, a P/E/G ratio of 2.01 and a beta of 0.67. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.14 and a current ratio of 1.14.

MGIC Investment (NYSE:MTG) last posted its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.03. The company had revenue of $297.08 million for the quarter, compared to the consensus estimate of $303.12 million. MGIC Investment had a net margin of 59.63% and a return on equity of 14.01%. MGIC Investment’s revenue was down 3.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.75 earnings per share. As a group, sell-side analysts expect that MGIC Investment Corporation will post 3.05 EPS for the current year.

MGIC Investment declared that its Board of Directors has authorized a share repurchase plan on Thursday, April 23rd that allows the company to buyback $750.00 million in outstanding shares. This buyback authorization allows the insurance provider to purchase up to 12.4% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other MGIC Investment news, COO Salvatore A. Miosi sold 30,000 shares of the business’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $25.38, for a total transaction of $761,400.00. Following the completion of the sale, the chief operating officer owned 560,951 shares of the company’s stock, valued at approximately $14,236,936.38. The trade was a 5.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Paula C. Maggio sold 20,937 shares of the company’s stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $25.55, for a total value of $534,940.35. Following the sale, the executive vice president owned 169,620 shares of the company’s stock, valued at $4,333,791. This represents a 10.99% 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. Corporate insiders own 1.34% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on MTG. Keefe, Bruyette & Woods upped their target price on MGIC Investment from $28.00 to $29.00 and gave the company a “market perform” rating in a research note on Friday, April 10th. Royal Bank Of Canada assumed coverage on MGIC Investment in a research report on Friday, May 22nd. They set a “sector perform” rating and a $28.00 price target for the company. Barclays cut their price target on MGIC Investment from $29.00 to $28.00 and set an “equal weight” rating for the company in a report on Friday, May 1st. Finally, Weiss Ratings upgraded MGIC Investment from a “buy (b)” rating to a “buy (b+)” rating in a research report on Tuesday, July 7th. 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, the company currently has a consensus rating of “Hold” and an average target price of $28.25.

MGIC Investment Company Profile

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.