Y Intercept Hong Kong Ltd Has $1.60 Million Stake in MGIC Investment Corporation $MTG

Y Intercept Hong Kong Ltd decreased its position in MGIC Investment Corporation (NYSE:MTG) by 49.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 56,509 shares of the insurance provider’s stock after selling 55,704 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in MGIC Investment were worth $1,603,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in MTG. True Wealth Design LLC raised its position in MGIC Investment by 262.5% during the second quarter. True Wealth Design LLC now owns 1,004 shares of the insurance provider’s stock valued at $28,000 after acquiring an additional 727 shares in the last quarter. Alpine Bank Wealth Management acquired a new position in shares of MGIC Investment during the 3rd quarter worth $28,000. Hantz Financial Services Inc. raised its holdings in shares of MGIC Investment by 3,067.6% during the 2nd quarter. Hantz Financial Services Inc. now owns 1,077 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 1,043 shares in the last quarter. Employees Retirement System of Texas acquired a new stake in shares of MGIC Investment in the 2nd quarter valued at $32,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in 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 worth $36,000 after purchasing an additional 708 shares in the last quarter. Institutional investors and hedge funds own 95.58% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Barclays raised their target price on MGIC Investment from $28.00 to $30.00 and gave the company an “equal weight” rating in a report on Tuesday, January 6th. Keefe, Bruyette & Woods raised their price objective on MGIC Investment from $27.00 to $28.00 and gave the company a “market perform” rating in a research note on Thursday, December 18th. Finally, Weiss Ratings reaffirmed a “buy (a-)” rating on shares of MGIC Investment in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $28.00.

Insiders Place Their Bets

In other MGIC Investment news, COO Salvatore A. Miosi sold 30,000 shares of the firm’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $27.52, for a total value of $825,600.00. Following the sale, the chief operating officer directly owned 159,401 shares in the company, valued at $4,386,715.52. This trade represents a 15.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Timothy J. Mattke sold 139,203 shares of the company’s stock in a transaction dated Tuesday, January 13th. The shares were sold at an average price of $26.51, for a total transaction of $3,690,271.53. Following the transaction, the chief executive officer directly owned 822,588 shares of the company’s stock, valued at $21,806,807.88. This represents a 14.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.05% of the stock is owned by corporate insiders.

MGIC Investment Price Performance

NYSE MTG opened at $26.99 on Friday. The stock has a 50-day simple moving average of $28.26 and a 200 day simple moving average of $27.67. MGIC Investment Corporation has a twelve month low of $21.94 and a twelve month high of $29.97. The stock has a market capitalization of $6.04 billion, a PE ratio of 8.68, a P/E/G ratio of 1.47 and a beta of 0.84. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.48 and a current ratio of 1.48.

MGIC Investment (NYSE:MTG) last issued 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. MGIC Investment had a return on equity of 14.62% and a net margin of 61.96%.The company had revenue of $304.51 million for the quarter, compared to the consensus estimate of $308.16 million. During the same period in the previous year, the business posted $0.77 EPS. The company’s revenue for the quarter was down .7% on a year-over-year basis. Research analysts anticipate that MGIC Investment Corporation will post 2.71 EPS for the current year.

MGIC Investment Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 6th. Shareholders of record on Tuesday, February 17th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $0.60 dividend on an annualized basis and a yield of 2.2%. MGIC Investment’s dividend payout ratio is 19.29%.

About MGIC Investment

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.