SG Americas Securities LLC Lowers Stock Position in MGIC Investment Corporation $MTG

SG Americas Securities LLC reduced its stake in shares of MGIC Investment Corporation (NYSE:MTG) by 35.9% in the second quarter, HoldingsChannel.com reports. The fund owned 12,063 shares of the insurance provider’s stock after selling 6,759 shares during the quarter. SG Americas Securities LLC’s holdings in MGIC Investment were worth $336,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in MTG. PNC Financial Services Group Inc. grew its position in MGIC Investment by 4.2% during the first quarter. PNC Financial Services Group Inc. now owns 10,894 shares of the insurance provider’s stock valued at $270,000 after acquiring an additional 437 shares during the last quarter. FCG Investment Co bought a new stake in shares of MGIC Investment in the 2nd quarter worth approximately $846,000. Sequoia Financial Advisors LLC purchased a new stake in shares of MGIC Investment in the 2nd quarter valued at $568,000. Private Advisor Group LLC bought a new position in shares of MGIC Investment during the 1st quarter valued at $238,000. Finally, XTX Topco Ltd raised its position in MGIC Investment by 1.7% in the 1st quarter. XTX Topco Ltd now owns 44,500 shares of the insurance provider’s stock worth $1,103,000 after purchasing an additional 731 shares during the period. Institutional investors own 95.58% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on MTG. Weiss Ratings restated a “buy (a-)” rating on shares of MGIC Investment in a research report on Wednesday, October 8th. Barclays boosted their target price on MGIC Investment from $27.00 to $28.00 and gave the company a “cautious” rating in a research note on Monday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $26.80.

MGIC Investment Price Performance

Shares of MGIC Investment stock opened at $28.35 on Friday. The company’s fifty day simple moving average is $27.72 and its two-hundred day simple moving average is $27.23. MGIC Investment Corporation has a 12-month low of $21.94 and a 12-month high of $29.01. The firm has a market cap of $6.34 billion, a PE ratio of 9.12, a price-to-earnings-growth ratio of 1.91 and a beta of 0.92. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.13.

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

MGIC Investment Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Thursday, November 6th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Thursday, November 6th. MGIC Investment’s dividend payout ratio (DPR) is currently 19.29%.

Insider Activity

In related news, CEO Timothy J. Mattke sold 139,203 shares of MGIC Investment stock in a transaction on Tuesday, October 7th. The shares were 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 in the company, valued at $26,054,918.19. The trade was a 12.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Salvatore A. Miosi sold 30,000 shares of the business’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $28.15, for a total transaction of $844,500.00. Following the transaction, the chief operating officer directly owned 189,401 shares in the company, valued at approximately $5,331,638.15. The trade was a 13.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 219,203 shares of company stock valued at $5,989,909. Company insiders own 1.05% of the company’s stock.

MGIC Investment Company Profile

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.