Stone Ridge Asset Management LLC Acquires 34,800 Shares of MGIC Investment Corp. (NYSE:MTG)

Stone Ridge Asset Management LLC lifted its holdings in MGIC Investment Corp. (NYSE:MTG) by 24.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 178,105 shares of the insurance provider’s stock after acquiring an additional 34,800 shares during the period. Stone Ridge Asset Management LLC owned 0.05% of MGIC Investment worth $2,524,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in MTG. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in MGIC Investment in the fourth quarter worth about $25,000. Smith Asset Management Group LP lifted its stake in MGIC Investment by 100.0% in the fourth quarter. Smith Asset Management Group LP now owns 1,900 shares of the insurance provider’s stock worth $27,000 after purchasing an additional 950 shares during the last quarter. Advisory Services Network LLC lifted its stake in MGIC Investment by 81.3% in the fourth quarter. Advisory Services Network LLC now owns 3,263 shares of the insurance provider’s stock worth $46,000 after purchasing an additional 1,463 shares during the last quarter. Signaturefd LLC bought a new stake in MGIC Investment in the third quarter worth about $100,000. Finally, Parallel Advisors LLC lifted its stake in MGIC Investment by 524.2% in the third quarter. Parallel Advisors LLC now owns 9,451 shares of the insurance provider’s stock worth $119,000 after purchasing an additional 7,937 shares during the last quarter. 89.36% of the stock is owned by hedge funds and other institutional investors.

Shares of MGIC Investment stock traded down $0.18 on Friday, hitting $13.63. 200,976 shares of the company traded hands, compared to its average volume of 2,665,123. The stock’s 50 day moving average price is $14.01 and its 200-day moving average price is $13.52. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.20. MGIC Investment Corp. has a 52 week low of $11.85 and a 52 week high of $15.24. The company has a market cap of $4.82 billion, a PE ratio of 7.33, a PEG ratio of 1.57 and a beta of 1.47.

MGIC Investment (NYSE:MTG) last posted its quarterly earnings results on Tuesday, February 4th. The insurance provider reported $0.49 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.07. MGIC Investment had a net margin of 55.50% and a return on equity of 16.73%. The firm had revenue of $311.60 million during the quarter, compared to the consensus estimate of $307.10 million. During the same quarter in the previous year, the firm posted $0.42 earnings per share. The company’s revenue was up 9.1% on a year-over-year basis. As a group, research analysts anticipate that MGIC Investment Corp. will post 1.81 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Tuesday, February 11th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.76%. The ex-dividend date is Monday, February 10th. MGIC Investment’s dividend payout ratio is presently 13.04%.

In other news, Vice Chairman Patrick Sinks sold 19,803 shares of MGIC Investment stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $14.37, for a total transaction of $284,569.11. Following the completion of the sale, the insider now owns 1,455,706 shares of the company’s stock, valued at $20,918,495.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Julie K. Sperber sold 5,535 shares of MGIC Investment stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $14.28, for a total transaction of $79,039.80. Following the sale, the chief accounting officer now directly owns 82,239 shares of the company’s stock, valued at approximately $1,174,372.92. The disclosure for this sale can be found here. Insiders have sold 50,680 shares of company stock valued at $723,465 in the last ninety days. Insiders own 0.81% of the company’s stock.

MTG has been the subject of several analyst reports. BTIG Research reissued a “buy” rating and issued a $18.00 price objective on shares of MGIC Investment in a research note on Thursday, February 6th. Deutsche Bank raised their price objective on shares of MGIC Investment from $18.00 to $18.50 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. B. Riley raised their price objective on shares of MGIC Investment from $18.00 to $19.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Finally, ValuEngine raised shares of MGIC Investment from a “strong sell” rating to a “sell” rating in a research note on Wednesday, January 15th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. MGIC Investment presently has a consensus rating of “Buy” and an average price target of $17.38.

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 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.

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Institutional Ownership by Quarter for MGIC Investment (NYSE:MTG)

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