MGIC Investment Corporation $MTG Position Cut by Livforsakringsbolaget Skandia Omsesidigt

Livforsakringsbolaget Skandia Omsesidigt trimmed its holdings in MGIC Investment Corporation (NYSE:MTG) by 62.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,410 shares of the insurance provider’s stock after selling 41,490 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in MGIC Investment were worth $707,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Captrust Financial Advisors bought a new position in MGIC Investment during the 4th quarter valued at $230,000. Cetera Investment Advisers boosted its stake in MGIC Investment by 6.0% during the 4th quarter. Cetera Investment Advisers now owns 13,904 shares of the insurance provider’s stock valued at $330,000 after purchasing an additional 792 shares in the last quarter. Deutsche Bank AG boosted its stake in MGIC Investment by 138.7% during the 4th quarter. Deutsche Bank AG now owns 86,530 shares of the insurance provider’s stock valued at $2,052,000 after purchasing an additional 50,272 shares in the last quarter. Focus Partners Wealth bought a new position in MGIC Investment during the 4th quarter valued at $254,000. Finally, Nomura Holdings Inc. bought a new position in MGIC Investment during the 4th quarter valued at $797,000. 95.58% of the stock is owned by institutional investors.

Insider Transactions at MGIC Investment

In other news, COO Salvatore A. Miosi sold 30,000 shares of MGIC Investment stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $26.22, for a total value of $786,600.00. Following the transaction, the chief operating officer directly owned 249,401 shares in the company, valued at approximately $6,539,294.22. The trade was a 10.74% 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, 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 value 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 $29,220,380.76. The trade was a 11.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.41% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Barclays increased their price target on MGIC Investment from $26.00 to $27.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 8th. Keefe, Bruyette & Woods increased their price objective 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. Finally, Compass Point reiterated a “neutral” rating and set a $28.00 price objective (up previously from $27.00) on shares of MGIC Investment in a research report on Friday, May 23rd. Five research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $26.67.

MGIC Investment Trading Down 0.4%

MGIC Investment stock opened at $27.87 on Wednesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.46 and a current ratio of 1.46. The business’s 50-day simple moving average is $26.98 and its 200-day simple moving average is $25.92. The firm has a market capitalization of $6.42 billion, a PE ratio of 9.14, a PEG ratio of 2.02 and a beta of 0.89. MGIC Investment Corporation has a 52 week low of $21.94 and a 52 week high of $28.98.

MGIC Investment (NYSE:MTG) last posted its quarterly earnings data on Wednesday, July 30th. The insurance provider reported $0.82 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 analyst estimates of $306.25 million. MGIC Investment had a return on equity of 14.73% and a net margin of 62.58%.The firm’s revenue for the quarter was down .3% on a year-over-year basis. During the same period in the previous year, the company posted $0.77 earnings per share. Equities research analysts forecast that MGIC Investment Corporation will post 2.71 earnings per share for the current year.

MGIC Investment Increases Dividend

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

About MGIC Investment

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.