Integrated Quantitative Investments LLC Sells 25,405 Shares of MGIC Investment Corporation $MTG

Integrated Quantitative Investments LLC lessened its holdings in shares of MGIC Investment Corporation (NYSE:MTG) by 71.6% in the third quarter, according to its most recent filing with the SEC. The firm owned 10,098 shares of the insurance provider’s stock after selling 25,405 shares during the period. Integrated Quantitative Investments LLC’s holdings in MGIC Investment were worth $286,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Alpine Bank Wealth Management bought a new position in shares of MGIC Investment in the 3rd quarter worth $28,000. True Wealth Design LLC lifted its stake in MGIC Investment by 262.5% in the second quarter. True Wealth Design LLC now owns 1,004 shares of the insurance provider’s stock valued at $28,000 after buying an additional 727 shares during the period. SBI Securities Co. Ltd. boosted its holdings in MGIC Investment by 61.1% during the third quarter. SBI Securities Co. Ltd. now owns 1,041 shares of the insurance provider’s stock worth $30,000 after buying an additional 395 shares during the last quarter. Hantz Financial Services Inc. grew its position in shares of 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 buying an additional 1,043 shares during the period. Finally, Employees Retirement System of Texas acquired a new position in shares of MGIC Investment during the 2nd quarter worth about $32,000. Institutional investors own 95.58% of the company’s stock.

Insider Buying and Selling at MGIC Investment

In other news, CEO Timothy J. Mattke sold 139,203 shares of the business’s stock in a transaction dated Tuesday, January 13th. The stock was sold at an average price of $26.51, for a total value of $3,690,271.53. Following the sale, the chief executive officer directly owned 822,588 shares in the company, valued at $21,806,807.88. The trade was a 14.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Paula C. Maggio sold 20,000 shares of the company’s stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $27.51, for a total value of $550,200.00. Following the transaction, the executive vice president directly owned 114,689 shares of the company’s stock, valued at $3,155,094.39. This represents a 14.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 189,203 shares of company stock valued at $5,058,572 in the last 90 days. 1.05% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently weighed in on MTG. Keefe, Bruyette & Woods increased their price target on shares of MGIC Investment from $27.00 to $28.00 and gave the company a “market perform” rating in a research report on Thursday, December 18th. Barclays cut their target price on shares of MGIC Investment from $30.00 to $28.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 4th. Finally, Weiss Ratings lowered shares of MGIC Investment from a “buy (a-)” rating to a “buy (b+)” rating in a report on Thursday, February 5th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $28.00.

MGIC Investment Stock Performance

Shares of MTG stock opened at $26.82 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.52 and a current ratio of 1.52. MGIC Investment Corporation has a 52 week low of $21.94 and a 52 week high of $29.97. The company’s 50 day moving average price is $27.24 and its two-hundred day moving average price is $27.77. The company has a market capitalization of $5.76 billion, a P/E ratio of 8.54, a price-to-earnings-growth ratio of 2.13 and a beta of 0.83.

MGIC Investment (NYSE:MTG) last released its quarterly earnings results on Monday, February 2nd. The insurance provider reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.02. MGIC Investment had a net margin of 60.84% and a return on equity of 14.33%. During the same period in the previous year, the firm earned $0.72 earnings per share. MGIC Investment’s quarterly revenue was down .9% compared to the same quarter last year. On average, analysts expect that MGIC Investment Corporation will post 2.71 earnings per share for the current fiscal year.

MGIC Investment Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Shareholders of record on Tuesday, February 17th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Tuesday, February 17th. MGIC Investment’s dividend payout ratio is 19.11%.

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.