O Shaughnessy Asset Management LLC Purchases 47,277 Shares of MGIC Investment Corporation $MTG

O Shaughnessy Asset Management LLC boosted its position in MGIC Investment Corporation (NYSE:MTG) by 18.1% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 308,969 shares of the insurance provider’s stock after purchasing an additional 47,277 shares during the period. O Shaughnessy Asset Management LLC owned about 0.14% of MGIC Investment worth $9,028,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Syon Capital LLC boosted its stake in MGIC Investment by 77.1% in the fourth quarter. Syon Capital LLC now owns 35,120 shares of the insurance provider’s stock valued at $1,026,000 after acquiring an additional 15,287 shares during the last quarter. Parallel Advisors LLC boosted its stake in MGIC Investment by 9.8% in the fourth quarter. Parallel Advisors LLC now owns 10,397 shares of the insurance provider’s stock valued at $304,000 after acquiring an additional 930 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in MGIC Investment by 13.4% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 129,000 shares of the insurance provider’s stock valued at $3,768,000 after acquiring an additional 15,200 shares during the last quarter. Vise Technologies Inc. boosted its stake in MGIC Investment by 108.9% in the fourth quarter. Vise Technologies Inc. now owns 15,288 shares of the insurance provider’s stock valued at $447,000 after acquiring an additional 7,971 shares during the last quarter. Finally, Sivia Capital Partners LLC boosted its stake in MGIC Investment by 89.2% in the fourth quarter. Sivia Capital Partners LLC now owns 22,660 shares of the insurance provider’s stock valued at $662,000 after acquiring an additional 10,684 shares during the last quarter. 95.58% of the stock is owned by institutional investors.

MGIC Investment Stock Performance

Shares of MTG stock opened at $25.80 on Thursday. The stock has a market capitalization of $5.46 billion, a P/E ratio of 8.19, a PEG ratio of 1.76 and a beta of 0.68. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.13. The firm’s 50 day moving average is $26.64 and its 200 day moving average is $27.16. MGIC Investment Corporation has a 12 month low of $24.69 and a 12 month high of $29.97.

MGIC Investment (NYSE:MTG) last announced its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.03. The company had revenue of $297.08 million for the quarter, compared to analysts’ expectations of $303.12 million. MGIC Investment had a net margin of 59.63% and a return on equity of 14.01%. MGIC Investment’s revenue was down 3.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.75 EPS. On average, sell-side analysts anticipate that MGIC Investment Corporation will post 3.06 earnings per share for the current year.

MGIC Investment Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Wednesday, May 6th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Wednesday, May 6th. MGIC Investment’s dividend payout ratio is presently 19.05%.

MGIC Investment announced that its board has authorized a share buyback program on Thursday, April 23rd that permits the company to buyback $750.00 million in outstanding shares. This buyback authorization permits the insurance provider to reacquire up to 12.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Barclays dropped their target price on shares of MGIC Investment from $29.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Friday, May 1st. Royal Bank Of Canada assumed coverage on shares of MGIC Investment in a research note on Friday, May 22nd. They issued a “sector perform” rating and a $28.00 target price on the stock. UBS Group dropped their target price on shares of MGIC Investment from $29.50 to $28.00 and set a “neutral” rating on the stock in a research note on Thursday, March 12th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of MGIC Investment from $28.00 to $29.00 and gave the company a “market perform” rating in a research note on Friday, April 10th. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $28.25.

Insider Activity at MGIC Investment

In related news, EVP Paula C. Maggio sold 20,937 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $25.55, for a total transaction of $534,940.35. Following the sale, the executive vice president directly owned 169,620 shares in the company, valued at approximately $4,333,791. This represents a 10.99% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Timothy J. Mattke sold 139,202 shares of the company’s stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $26.49, for a total transaction of $3,687,460.98. Following the sale, the chief executive officer owned 1,118,005 shares in the company, valued at $29,615,952.45. The trade was a 11.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 201,070 shares of company stock worth $5,270,740. 1.34% of the stock is owned by corporate insiders.

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.