Vinva Investment Management Ltd Takes Position in MGIC Investment Corporation $MTG

Vinva Investment Management Ltd bought a new position in shares of MGIC Investment Corporation (NYSE:MTG) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 8,348 shares of the insurance provider’s stock, valued at approximately $232,000.

Other large investors have also added to or reduced their stakes in the company. WPG Advisers LLC bought a new stake in MGIC Investment during the 1st quarter worth approximately $26,000. True Wealth Design LLC boosted its position in shares of 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 buying an additional 727 shares during the last quarter. Hantz Financial Services Inc. grew its holdings in MGIC Investment by 3,067.6% during the second quarter. Hantz Financial Services Inc. now owns 1,077 shares of the insurance provider’s stock worth $30,000 after buying an additional 1,043 shares in the last quarter. Employees Retirement System of Texas purchased a new stake in MGIC Investment in the 2nd quarter valued at $32,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its position in MGIC Investment by 118.0% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,308 shares of the insurance provider’s stock valued at $36,000 after buying an additional 708 shares during the last quarter. Institutional investors own 95.58% of the company’s stock.

Insider Activity at MGIC Investment

In other MGIC Investment news, 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 transaction of $3,771,009.27. Following the sale, the chief executive officer 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. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Paula C. Maggio sold 20,000 shares of the 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 sale, the executive vice president owned 117,395 shares in the company, valued at approximately $3,221,318.80. This represents a 14.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 219,203 shares of company stock worth $5,989,909. 1.05% of the stock is owned by corporate insiders.

MGIC Investment Stock Performance

NYSE:MTG opened at $28.35 on Friday. The company has a market capitalization of $6.34 billion, a P/E ratio of 9.12, a P/E/G ratio of 1.91 and a beta of 0.92. The business has a fifty day simple moving average of $27.72 and a two-hundred day simple moving average of $27.24. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.46 and a quick ratio of 1.46. MGIC Investment Corporation has a 1 year low of $21.94 and a 1 year high of $29.01.

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

MGIC Investment Announces Dividend

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

Analyst Ratings Changes

MTG has been the topic of a number of analyst reports. Barclays lifted their price objective 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. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of MGIC Investment in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, MGIC Investment presently has a consensus rating of “Hold” and an average target price of $26.80.

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.