Vise Technologies Inc. Acquires New Shares in MGIC Investment Corporation $MTG

Vise Technologies Inc. bought a new position in shares of MGIC Investment Corporation (NYSE:MTG) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 7,646 shares of the insurance provider’s stock, valued at approximately $213,000.

Other hedge funds also recently modified their holdings of the company. Allworth Financial LP boosted its stake in MGIC Investment by 285.3% during the second quarter. Allworth Financial LP now owns 2,285 shares of the insurance provider’s stock worth $64,000 after acquiring an additional 1,692 shares in the last quarter. Acadian Asset Management LLC lifted its stake in MGIC Investment by 103.8% during the 2nd quarter. Acadian Asset Management LLC now owns 1,060,172 shares of the insurance provider’s stock valued at $29,502,000 after acquiring an additional 539,993 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in MGIC Investment during the second quarter worth about $2,444,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of MGIC Investment by 118.0% in 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 in the last quarter. Finally, Aviva PLC boosted its position in MGIC Investment by 41.5% in the second quarter. Aviva PLC now owns 36,574 shares of the insurance provider’s stock worth $1,018,000 after purchasing an additional 10,727 shares during the last quarter. Institutional investors own 95.58% of the company’s stock.

MGIC Investment Price Performance

MTG stock opened at $27.83 on Wednesday. The firm has a 50 day simple moving average of $27.73 and a two-hundred day simple moving average of $27.13. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.46 and a quick ratio of 1.46. The stock has a market cap of $6.23 billion, a PE ratio of 8.95, a P/E/G ratio of 1.91 and a beta of 0.92. MGIC Investment Corporation has a one year low of $21.94 and a one year high of $29.01.

MGIC Investment (NYSE:MTG) last posted its quarterly earnings data on Wednesday, October 29th. The insurance provider reported $0.83 earnings per share (EPS) 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 the consensus estimate of $308.16 million. During the same period in the previous year, the firm posted $0.77 EPS. The firm’s revenue was down .7% compared to the same quarter last year. On average, analysts predict that MGIC Investment Corporation will post 2.71 EPS for the current fiscal year.

MGIC Investment Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Thursday, November 6th will be given a $0.15 dividend. The ex-dividend date is Thursday, November 6th. This represents a $0.60 dividend on an annualized basis and a yield of 2.2%. MGIC Investment’s payout ratio is presently 19.29%.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

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

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.