34,077 MGIC Investment Corporation $MTG Shares Sold by Moody Aldrich Partners LLC

Moody Aldrich Partners LLC trimmed its stake in MGIC Investment Corporation (NYSE:MTG) by 20.8% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 129,764 shares of the insurance provider’s stock after selling 34,077 shares during the period. Moody Aldrich Partners LLC’s holdings in MGIC Investment were worth $3,353,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of MTG. Elevation Wealth Partners LLC lifted its position in shares of MGIC Investment by 345.6% during the third quarter. Elevation Wealth Partners LLC now owns 1,123 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 871 shares in the last quarter. V Square Quantitative Management LLC grew its stake in shares of MGIC Investment by 91.2% during the third quarter. V Square Quantitative Management LLC now owns 1,363 shares of the insurance provider’s stock worth $35,000 after purchasing an additional 650 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of MGIC Investment in the 2nd quarter valued at about $62,000. Harbor Investment Advisory LLC increased its stake in MGIC Investment by 613.0% in the second quarter. Harbor Investment Advisory LLC now owns 2,574 shares of the insurance provider’s stock valued at $73,000 after purchasing an additional 2,213 shares during the last quarter. Finally, Root Financial Partners LLC acquired a new stake in MGIC Investment during the 3rd quarter worth $76,000. Institutional investors and hedge funds own 95.58% of the company’s stock.

MGIC Investment Stock Down 1.4%

Shares of MGIC Investment stock opened at $28.25 on Thursday. MGIC Investment Corporation has a one year low of $24.69 and a one year high of $31.89. The company has a market cap of $5.80 billion, a P/E ratio of 8.83, a PEG ratio of 1.02 and a beta of 0.67. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.19 and a current ratio of 1.19. The firm has a fifty day moving average of $29.12 and a two-hundred day moving average of $27.74.

MGIC Investment (NYSE:MTG) last issued its earnings results on Wednesday, July 29th. The insurance provider reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.11. The business had revenue of $295.39 million for the quarter, compared to the consensus estimate of $297.54 million. MGIC Investment had a net margin of 59.20% and a return on equity of 13.90%. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.82 earnings per share. On average, analysts forecast that MGIC Investment Corporation will post 3.22 earnings per share for the current year.

Insider Transactions at MGIC Investment

In related news, CEO Timothy Mattke sold 137,114 shares of the stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $26.23, for a total transaction of $3,596,500.22. Following the completion of the transaction, the chief executive officer directly owned 843,778 shares of the company’s stock, valued at $22,132,296.94. This represents a 13.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Salvatore Miosi sold 30,000 shares of the stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $26.06, for a total transaction of $781,800.00. Following the transaction, 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 ownership of the stock. 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 a total of 217,114 shares of company stock worth $5,906,200 over the last ninety days. 1.34% of the stock is currently owned by company insiders.

Analyst Ratings Changes

MTG has been the topic of several research analyst reports. Barclays lifted their price target on MGIC Investment from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Monday, October 5th. Keefe, Bruyette & Woods upped their price target on shares of MGIC Investment from $29.00 to $30.00 and gave the company a “market perform” rating in a research report on Friday, July 31st. Roth Capital reiterated a “buy” rating and set a $35.00 price target on shares of MGIC Investment in a research note on Thursday, July 30th. Royal Bank Of Canada raised their price objective 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, 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. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $30.80.

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 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.