Grantham Mayo Van Otterloo & Co. LLC Has $17.98 Million Stock Holdings in MGIC Investment Corporation $MTG

Grantham Mayo Van Otterloo & Co. LLC decreased its stake in shares of MGIC Investment Corporation (NYSE:MTG) by 3.1% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 645,750 shares of the insurance provider’s stock after selling 20,755 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC’s holdings in MGIC Investment were worth $17,978,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of MTG. True Wealth Design LLC boosted its holdings in shares of MGIC Investment by 262.5% during the second quarter. True Wealth Design LLC now owns 1,004 shares of the insurance provider’s stock worth $28,000 after acquiring an additional 727 shares during the period. WPG Advisers LLC bought a new position in shares of MGIC Investment during the first quarter worth approximately $26,000. Hantz Financial Services Inc. lifted its holdings in MGIC Investment by 3,067.6% during the 2nd quarter. Hantz Financial Services Inc. now owns 1,077 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 1,043 shares during the last quarter. Employees Retirement System of Texas bought a new stake in MGIC Investment in the 2nd quarter valued at $32,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in MGIC Investment by 118.0% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,308 shares of the insurance provider’s stock valued at $36,000 after buying an additional 708 shares in the last quarter. 95.58% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Weiss Ratings reissued a “buy (a-)” rating on shares of MGIC Investment in a report on Wednesday, October 8th. Barclays raised their price target on shares of MGIC Investment from $27.00 to $28.00 and gave the stock a “cautious” rating in a research report on Monday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $26.80.

MGIC Investment Stock Performance

NYSE:MTG opened at $28.35 on Friday. The company has a market cap of $6.34 billion, a price-to-earnings ratio of 9.12, a PEG ratio of 1.91 and a beta of 0.92. MGIC Investment Corporation has a fifty-two week low of $21.94 and a fifty-two week high of $29.01. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.46 and a current ratio of 1.46. The stock has a fifty day moving average price of $27.72 and a 200-day moving average price of $27.23.

MGIC Investment (NYSE:MTG) last posted its quarterly earnings results on Wednesday, October 29th. The insurance provider reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.11. MGIC Investment had a return on equity of 14.63% and a net margin of 61.96%.The business had revenue of $304.51 million during the quarter, compared to the consensus estimate of $308.16 million. During the same quarter in the previous year, the firm earned $0.77 earnings per share. MGIC Investment’s revenue for the quarter was down .7% compared to the same quarter last year. As a group, equities analysts anticipate that MGIC Investment Corporation will post 2.71 EPS for the current fiscal year.

MGIC Investment Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Thursday, November 6th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Thursday, November 6th. MGIC Investment’s dividend payout ratio is 19.29%.

Insider Buying and Selling

In other MGIC Investment news, CEO Timothy J. Mattke sold 139,203 shares of the firm’s stock in a transaction on Tuesday, October 7th. The stock was sold at an average price of $27.09, for a total value of $3,771,009.27. Following the sale, the chief executive officer owned 961,791 shares of the company’s stock, valued at approximately $26,054,918.19. This trade represents a 12.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Paula C. Maggio sold 20,000 shares of MGIC Investment stock in a transaction on Friday, October 31st. The shares were sold at an average price of $27.44, for a total value of $548,800.00. Following the completion of the transaction, the executive vice president owned 117,395 shares in the company, valued at approximately $3,221,318.80. The trade was a 14.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 219,203 shares of company stock worth $5,989,909. Corporate insiders own 1.05% of the company’s stock.

About MGIC Investment

MGIC Investment Corporation, through its subsidiaries, provides private mortgage insurance, other mortgage credit risk management solutions, and ancillary services to lenders and government sponsored entities in the United States, the District of Columbia, Puerto Rico, and Guam. The company offers primary mortgage insurance that provides mortgage default protection on individual loans, as well as covers unpaid loan principal, delinquent interest, and various expenses associated with the default and subsequent foreclosure.