State of Wyoming Has $737,000 Stake in MGIC Investment Co. (NYSE:MTG)

State of Wyoming increased its holdings in shares of MGIC Investment Co. (NYSE:MTG) by 11.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 31,091 shares of the insurance provider’s stock after purchasing an additional 3,180 shares during the quarter. State of Wyoming’s holdings in MGIC Investment were worth $737,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. UMB Bank n.a. boosted its holdings in MGIC Investment by 131.9% during the fourth quarter. UMB Bank n.a. now owns 1,649 shares of the insurance provider’s stock worth $39,000 after purchasing an additional 938 shares during the last quarter. Venturi Wealth Management LLC boosted its holdings in MGIC Investment by 102.1% during the fourth quarter. Venturi Wealth Management LLC now owns 1,817 shares of the insurance provider’s stock worth $43,000 after purchasing an additional 918 shares during the last quarter. V Square Quantitative Management LLC lifted its stake in MGIC Investment by 61.9% in the fourth quarter. V Square Quantitative Management LLC now owns 2,077 shares of the insurance provider’s stock valued at $49,000 after acquiring an additional 794 shares during the last quarter. Physician Wealth Advisors Inc. acquired a new stake in MGIC Investment in the fourth quarter valued at $54,000. Finally, EverSource Wealth Advisors LLC lifted its stake in MGIC Investment by 21.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,336 shares of the insurance provider’s stock valued at $55,000 after acquiring an additional 419 shares during the last quarter. Institutional investors and hedge funds own 95.58% of the company’s stock.

Insider Transactions at MGIC Investment

In related news, CAO Julie K. Sperber sold 4,600 shares of the firm’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $24.55, for a total transaction of $112,930.00. Following the transaction, the chief accounting officer now directly owns 75,070 shares of the company’s stock, valued at approximately $1,842,968.50. This trade represents a 5.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.05% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

MTG has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods cut their price target on shares of MGIC Investment from $28.00 to $26.00 and set a “market perform” rating for the company in a research note on Tuesday, April 8th. UBS Group increased their price target on shares of MGIC Investment from $25.00 to $26.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Compass Point reiterated a “neutral” rating and issued a $27.00 price target (up previously from $24.00) on shares of MGIC Investment in a research note on Wednesday, February 5th. Finally, Barclays increased their price target on shares of MGIC Investment from $25.00 to $26.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 5th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $26.50.

MGIC Investment Stock Performance

NYSE MTG opened at $26.90 on Monday. The firm has a 50-day moving average of $24.45 and a 200-day moving average of $24.49. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.25 and a current ratio of 0.48. The stock has a market cap of $6.39 billion, a PE ratio of 9.28 and a beta of 0.91. MGIC Investment Co. has a 52-week low of $20.11 and a 52-week high of $26.92.

MGIC Investment (NYSE:MTG) last posted its earnings results on Wednesday, April 30th. The insurance provider reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.09. The company had revenue of $306.23 million during the quarter, compared to analysts’ expectations of $306.66 million. MGIC Investment had a net margin of 63.18% and a return on equity of 14.86%. MGIC Investment’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.65 EPS. On average, sell-side analysts anticipate that MGIC Investment Co. will post 2.71 EPS for the current year.

MGIC Investment declared that its board has approved a share repurchase program on Thursday, April 24th that allows the company to buyback $750.00 million in outstanding shares. This buyback authorization allows the insurance provider to repurchase up to 12.5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.

MGIC Investment Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 21st. Stockholders of record on Thursday, May 8th will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date of this dividend is Thursday, May 8th. MGIC Investment’s dividend payout ratio is presently 17.28%.

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.