Wealthspire Advisors LLC Buys Shares of 8,633 MGIC Investment Corporation $MTG

Wealthspire Advisors LLC purchased a new position in MGIC Investment Corporation (NYSE:MTG) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,633 shares of the insurance provider’s stock, valued at approximately $240,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. CWM LLC grew its position in MGIC Investment by 76.3% in the 1st quarter. CWM LLC now owns 8,825 shares of the insurance provider’s stock valued at $219,000 after acquiring an additional 3,820 shares during the last quarter. Private Advisor Group LLC purchased a new stake in shares of MGIC Investment during the first quarter valued at $238,000. Y Intercept Hong Kong Ltd bought a new position in shares of MGIC Investment in the first quarter worth about $958,000. Universal Beteiligungs und Servicegesellschaft mbH increased its stake in MGIC Investment by 12.1% in the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 470,527 shares of the insurance provider’s stock worth $11,660,000 after buying an additional 50,938 shares during the period. Finally, Mackenzie Financial Corp increased its stake in MGIC Investment by 20.7% in the 1st quarter. Mackenzie Financial Corp now owns 542,207 shares of the insurance provider’s stock worth $13,436,000 after buying an additional 92,824 shares during the period. 95.58% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

MGIC Investment Price Performance

Shares of MTG opened at $28.31 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.46 and a current ratio of 1.46. The stock has a market capitalization of $6.33 billion, a PE ratio of 9.10, a PEG ratio of 1.91 and a beta of 0.92. The company has a 50 day moving average price of $27.70 and a 200-day moving average price of $27.17. MGIC Investment Corporation has a fifty-two week low of $21.94 and a fifty-two week high of $29.01.

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

MGIC Investment Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Thursday, November 6th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend was Thursday, November 6th. MGIC Investment’s dividend payout ratio is presently 19.29%.

Insider Buying and Selling at MGIC Investment

In related news, COO Salvatore A. Miosi sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $27.52, for a total transaction of $825,600.00. Following the completion of the transaction, the chief operating officer owned 159,401 shares in the company, valued at $4,386,715.52. The trade was a 15.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Timothy J. Mattke sold 139,203 shares of the stock in a transaction that occurred 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 sale, the chief executive officer directly owned 961,791 shares of the company’s stock, valued at $26,054,918.19. The trade was a 12.64% decrease in their position. 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. 1.05% of the stock is currently owned by insiders.

MGIC Investment 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.