Voya Investment Management LLC Sells 253,681 Shares of MGIC Investment Corporation $MTG

Voya Investment Management LLC reduced its holdings in shares of MGIC Investment Corporation (NYSE:MTG) by 41.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 351,816 shares of the insurance provider’s stock after selling 253,681 shares during the quarter. Voya Investment Management LLC owned 0.15% of MGIC Investment worth $9,981,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. HighTower Advisors LLC boosted its stake in MGIC Investment by 10.1% during the 1st quarter. HighTower Advisors LLC now owns 43,702 shares of the insurance provider’s stock valued at $1,083,000 after purchasing an additional 4,014 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of MGIC Investment by 1,910.5% in the first quarter. Smartleaf Asset Management LLC now owns 5,368 shares of the insurance provider’s stock valued at $131,000 after purchasing an additional 5,101 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new position in shares of MGIC Investment in the first quarter valued at approximately $1,409,000. Virtus Advisers LLC purchased a new position in shares of MGIC Investment during the first quarter valued at approximately $151,000. Finally, Jane Street Group LLC grew its holdings in MGIC Investment by 5,891.9% during the first quarter. Jane Street Group LLC now owns 1,373,050 shares of the insurance provider’s stock worth $34,024,000 after buying an additional 1,350,135 shares in the last quarter. Institutional investors and hedge funds own 95.58% of the company’s stock.

MGIC Investment Price Performance

MTG opened at $29.69 on Wednesday. MGIC Investment Corporation has a fifty-two week low of $21.94 and a fifty-two week high of $29.97. The firm has a 50-day moving average of $28.09 and a 200 day moving average of $27.54. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.48 and a current ratio of 1.48. The firm has a market cap of $6.64 billion, a P/E ratio of 9.55, a PEG ratio of 1.66 and a beta of 0.85.

MGIC Investment (NYSE:MTG) last announced its quarterly earnings data on Wednesday, October 29th. The insurance provider reported $0.83 EPS for the quarter, topping the consensus estimate of $0.72 by $0.11. MGIC Investment had a net margin of 61.96% and a return on equity of 14.62%. The business had revenue of $304.51 million for the quarter, compared to analyst estimates of $308.16 million. During the same quarter in the previous year, the firm posted $0.77 earnings per share. The company’s revenue for the quarter was down .7% on a year-over-year basis. On average, research analysts expect that MGIC Investment Corporation will post 2.71 EPS for the current year.

MGIC Investment Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Investors of record on Thursday, November 6th were paid a $0.15 dividend. The ex-dividend date was Thursday, November 6th. This represents a $0.60 annualized dividend and a yield of 2.0%. MGIC Investment’s dividend payout ratio is presently 19.29%.

Wall Street Analyst Weigh In

MTG has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of MGIC Investment in a report on Wednesday, October 8th. Barclays boosted their price target on shares of MGIC Investment from $27.00 to $28.00 and gave the stock a “cautious” rating in a report on Monday, October 6th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of MGIC Investment from $27.00 to $28.00 and gave the company a “market perform” rating in a research note on Thursday, December 18th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, MGIC Investment presently has a consensus rating of “Hold” and a consensus price target of $27.50.

Insider Buying and Selling at MGIC Investment

In other MGIC Investment news, EVP Paula C. Maggio sold 20,000 shares of the firm’s stock in a transaction on Friday, October 31st. The stock was sold at an average price of $27.44, for a total value of $548,800.00. Following the completion of the sale, the executive vice president directly owned 117,395 shares of the company’s stock, valued at $3,221,318.80. This trade represents a 14.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Timothy J. Mattke sold 139,203 shares of the business’s 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 completion of the sale, the chief executive officer owned 961,791 shares in the company, valued at approximately $26,054,918.19. The trade was a 12.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 219,203 shares of company stock valued at $5,989,909. Company insiders own 1.41% of the company’s stock.

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.