Jefferies Financial Group Inc. Purchases 33,745 Shares of MGIC Investment Corporation $MTG

Jefferies Financial Group Inc. lifted its position in MGIC Investment Corporation (NYSE:MTG) by 47.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 105,611 shares of the insurance provider’s stock after purchasing an additional 33,745 shares during the period. Jefferies Financial Group Inc.’s holdings in MGIC Investment were worth $2,996,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Alpine Bank Wealth Management bought a new position in MGIC Investment in the 3rd quarter worth $28,000. SBI Securities Co. Ltd. increased its stake in MGIC Investment by 61.1% in the 3rd 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 in the last quarter. Employees Retirement System of Texas bought a new stake in MGIC Investment during the second quarter valued at about $32,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in MGIC Investment by 118.0% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,308 shares of the insurance provider’s stock valued at $36,000 after acquiring an additional 708 shares during the period. Finally, Root Financial Partners LLC purchased a new position in shares of MGIC Investment in the third quarter valued at about $38,000. 95.58% of the stock is currently owned by institutional investors.

Insider Activity at MGIC Investment

In other MGIC Investment news, CEO Timothy J. Mattke sold 139,203 shares of MGIC Investment stock in a transaction that occurred on 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 owned 822,588 shares of the company’s stock, valued at $21,806,807.88. The trade was a 14.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Paula C. Maggio sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $27.51, for a total value of $550,200.00. Following the sale, the executive vice president directly owned 114,689 shares in the company, valued at $3,155,094.39. This trade represents a 14.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 189,203 shares of company stock valued at $5,058,572. Insiders own 1.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on MTG shares. Keefe, Bruyette & Woods upped their price objective on MGIC Investment from $27.00 to $28.00 and gave the stock a “market perform” rating in a research note on Thursday, December 18th. Weiss Ratings downgraded MGIC Investment from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Thursday, February 5th. Finally, Barclays dropped their price target on MGIC Investment from $30.00 to $28.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 4th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, MGIC Investment presently has an average rating of “Hold” and an average price target of $28.00.

MGIC Investment Stock Performance

Shares of NYSE MTG opened at $26.35 on Wednesday. The company has a market cap of $5.66 billion, a P/E ratio of 8.39, a P/E/G ratio of 2.11 and a beta of 0.83. MGIC Investment Corporation has a 52-week low of $21.94 and a 52-week high of $29.97. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.52 and a current ratio of 1.52. The firm’s fifty day moving average is $27.05 and its two-hundred day moving average is $27.75.

MGIC Investment (NYSE:MTG) last released its quarterly earnings data on Monday, February 2nd. The insurance provider reported $0.75 EPS 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%. MGIC Investment’s revenue was down .9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.72 earnings per share. As a group, analysts anticipate that MGIC Investment Corporation will post 2.71 EPS for the current fiscal year.

MGIC Investment Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 6th. Investors of record on Tuesday, February 17th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, February 17th. This represents a $0.60 dividend on an annualized basis and a yield of 2.3%. MGIC Investment’s dividend payout ratio is presently 19.11%.

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.