Campbell & CO Investment Adviser LLC Sells 22,090 Shares of MGIC Investment Corporation $MTG

Campbell & CO Investment Adviser LLC reduced its holdings in shares of MGIC Investment Corporation (NYSE:MTG) by 38.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 34,768 shares of the insurance provider’s stock after selling 22,090 shares during the period. Campbell & CO Investment Adviser LLC’s holdings in MGIC Investment were worth $968,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Millennium Management LLC lifted its holdings in MGIC Investment by 913.6% during the first quarter. Millennium Management LLC now owns 2,300,596 shares of the insurance provider’s stock valued at $57,009,000 after purchasing an additional 2,073,633 shares in the last quarter. Allianz Asset Management GmbH lifted its stake in shares of MGIC Investment by 40.6% during the 2nd quarter. Allianz Asset Management GmbH now owns 5,398,356 shares of the insurance provider’s stock valued at $150,290,000 after buying an additional 1,557,970 shares in the last quarter. Jane Street Group LLC boosted its holdings in MGIC Investment by 5,891.9% in the 1st 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 during the period. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in MGIC Investment in the 2nd quarter worth $29,139,000. Finally, JPMorgan Chase & Co. increased its stake in MGIC Investment by 4.8% in the 1st quarter. JPMorgan Chase & Co. now owns 16,162,180 shares of the insurance provider’s stock worth $400,499,000 after buying an additional 743,212 shares in the last quarter. Hedge funds and other institutional investors own 95.58% of the company’s stock.

MGIC Investment Stock Performance

Shares of NYSE:MTG opened at $28.45 on Thursday. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.13. MGIC Investment Corporation has a 12 month low of $21.94 and a 12 month high of $29.01. The company has a market capitalization of $6.37 billion, a price-to-earnings ratio of 9.15, a PEG ratio of 1.91 and a beta of 0.92. The firm’s 50-day moving average is $27.77 and its 200 day moving average is $27.04.

MGIC Investment (NYSE:MTG) last announced its earnings results on Wednesday, October 29th. The insurance provider reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.11. The business 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 company’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.77 earnings per share. Research analysts predict that MGIC Investment Corporation will post 2.71 EPS for the current year.

MGIC Investment Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Thursday, November 6th will be paid a $0.15 dividend. The ex-dividend date is Thursday, November 6th. This represents a $0.60 dividend on an annualized basis and a yield of 2.1%. MGIC Investment’s dividend payout ratio (DPR) is presently 19.29%.

Analyst Ratings Changes

A number of research analysts have recently commented on MTG shares. Weiss Ratings reiterated a “buy (a-)” rating on shares of MGIC Investment in a research report on Wednesday, October 8th. Barclays increased 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. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, MGIC Investment has a consensus rating of “Hold” and an average target price of $26.80.

Insider Transactions at MGIC Investment

In other news, COO Salvatore A. Miosi sold 30,000 shares of MGIC Investment stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $27.52, for a total transaction of $825,600.00. Following the completion of the sale, the chief operating officer directly owned 159,401 shares in the company, valued at approximately $4,386,715.52. This trade represents a 15.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Timothy J. Mattke sold 139,203 shares of the company’s stock in a transaction dated Tuesday, October 7th. The stock was sold at an average price of $27.09, for a total transaction of $3,771,009.27. Following the completion of the transaction, 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. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 219,203 shares of company stock worth $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.