MGIC Investment Corporation $MTG Stock Holdings Increased by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. raised its holdings in shares of MGIC Investment Corporation (NYSE:MTG) by 29.3% during the 2nd quarter, Holdings Channel reports. The fund owned 1,058,931 shares of the insurance provider’s stock after purchasing an additional 240,148 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in MGIC Investment were worth $29,481,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. WPG Advisers LLC bought a new stake in MGIC Investment during the 1st quarter valued at $26,000. Cullen Frost Bankers Inc. acquired a new position in shares of MGIC Investment during the 1st quarter valued at $33,000. Quarry LP acquired a new position in shares of MGIC Investment during the 1st quarter valued at $38,000. Geneos Wealth Management Inc. increased its position in shares of MGIC Investment by 88.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,745 shares of the insurance provider’s stock valued at $43,000 after purchasing an additional 817 shares during the period. Finally, Harbor Capital Advisors Inc. acquired a new position in shares of MGIC Investment during the 2nd quarter valued at $49,000. Institutional investors own 95.58% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Weiss Ratings reiterated a “buy (a-)” rating on shares of MGIC Investment in a research report on Saturday, September 27th. Barclays lifted their price target on MGIC Investment from $26.00 to $27.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 8th. Finally, Keefe, Bruyette & Woods lifted their price target on MGIC Investment from $26.00 to $27.00 and gave the company a “market perform” rating in a research report on Monday, July 7th. One research analyst has rated the stock with a Strong Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $26.67.

MGIC Investment Stock Performance

Shares of NYSE MTG opened at $27.51 on Friday. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $6.34 billion, a price-to-earnings ratio of 9.02, a PEG ratio of 2.01 and a beta of 0.88. The stock’s fifty day simple moving average is $27.68 and its 200 day simple moving average is $26.34. MGIC Investment Corporation has a 52-week low of $21.94 and a 52-week high of $29.01.

MGIC Investment (NYSE:MTG) last issued its earnings results on Wednesday, July 30th. The insurance provider reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.12. The business had revenue of $304.25 million for 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%.The company’s quarterly revenue was down .3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.77 EPS. As a group, sell-side analysts forecast that MGIC Investment Corporation will post 2.71 earnings per share for the current fiscal year.

MGIC Investment Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 7th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.2%. This is a boost from MGIC Investment’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Thursday, August 7th. MGIC Investment’s payout ratio is 19.67%.

Insider Buying and Selling at MGIC Investment

In other news, CEO Timothy J. Mattke sold 139,203 shares of the firm’s stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $26.54, for a total value of $3,694,447.62. Following the completion of the sale, the chief executive officer owned 1,100,994 shares of the company’s stock, valued at $29,220,380.76. This trade represents a 11.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Salvatore A. Miosi sold 30,000 shares of the firm’s stock in a transaction 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 completion of the sale, the chief operating officer directly owned 189,401 shares of the company’s stock, valued at approximately $5,331,638.15. This trade represents a 13.67% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 199,203 shares of company stock valued at $5,325,548. 1.05% of the stock is currently owned by insiders.

MGIC Investment Company 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.