Leeward Investments LLC MA Has $16.63 Million Stock Position in MGIC Investment Corporation $MTG

Leeward Investments LLC MA lowered its stake in MGIC Investment Corporation (NYSE:MTG) by 3.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 597,176 shares of the insurance provider’s stock after selling 21,796 shares during the quarter. Leeward Investments LLC MA’s holdings in MGIC Investment were worth $16,625,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Millennium Management LLC grew its stake in MGIC Investment by 913.6% in the first quarter. Millennium Management LLC now owns 2,300,596 shares of the insurance provider’s stock valued at $57,009,000 after acquiring an additional 2,073,633 shares during the period. Allianz Asset Management GmbH grew its stake in MGIC Investment by 40.6% in the second quarter. Allianz Asset Management GmbH now owns 5,398,356 shares of the insurance provider’s stock valued at $150,290,000 after acquiring an additional 1,557,970 shares during the period. Jane Street Group LLC grew its stake in MGIC Investment by 5,891.9% in the first quarter. Jane Street Group LLC now owns 1,373,050 shares of the insurance provider’s stock valued at $34,024,000 after acquiring an additional 1,350,135 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in MGIC Investment in the second quarter valued at about $29,139,000. Finally, JPMorgan Chase & Co. grew its stake in MGIC Investment by 4.8% in the first quarter. JPMorgan Chase & Co. now owns 16,162,180 shares of the insurance provider’s stock valued at $400,499,000 after acquiring an additional 743,212 shares during the period. 95.58% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Timothy J. Mattke sold 139,203 shares of MGIC Investment stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $26.54, for a total transaction of $3,694,447.62. Following the completion of the transaction, the chief executive officer owned 1,100,994 shares in the company, valued at approximately $29,220,380.76. This trade represents a 11.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Salvatore A. Miosi sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $28.15, for a total value of $844,500.00. Following the sale, the chief operating officer owned 189,401 shares of the company’s stock, valued at approximately $5,331,638.15. This represents a 13.67% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 338,406 shares of company stock valued at $9,096,557 in the last 90 days. 1.05% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on MTG. Barclays boosted their target price on MGIC Investment from $27.00 to $28.00 and gave the company a “cautious” rating in a research note on Monday, October 6th. Keefe, Bruyette & Woods boosted their target price on MGIC Investment from $26.00 to $27.00 and gave the company a “market perform” rating in a research note on Monday, July 7th. Finally, Weiss Ratings reissued a “buy (a-)” rating on shares of MGIC Investment in a research note on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, MGIC Investment has a consensus rating of “Hold” and an average price target of $26.83.

MGIC Investment Price Performance

Shares of NYSE MTG opened at $27.39 on Friday. The stock has a market capitalization of $6.31 billion, a price-to-earnings ratio of 8.98, a PEG ratio of 1.98 and a beta of 0.88. The business has a 50-day moving average of $27.79 and a 200-day moving average of $26.69. 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 fifty-two week low of $21.94 and a fifty-two week high of $29.01.

MGIC Investment (NYSE:MTG) last announced its quarterly earnings data on Wednesday, July 30th. The insurance provider reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.12. The company had revenue of $304.25 million during the quarter, compared to analysts’ expectations of $306.25 million. MGIC Investment had a return on equity of 14.73% and a net margin of 62.58%.MGIC Investment’s revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter last year, the company earned $0.77 EPS. As a group, sell-side analysts predict that MGIC Investment Corporation will post 2.71 earnings per share for the current fiscal year.

MGIC Investment Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Thursday, November 6th will be issued a $0.15 dividend. The ex-dividend date is Thursday, November 6th. This represents a $0.60 annualized dividend and a dividend yield of 2.2%. MGIC Investment’s dividend payout ratio (DPR) is presently 19.67%.

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.