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

Leeward Investments LLC MA decreased its position in MGIC Investment Corporation (NYSE:MTG) by 3.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 597,176 shares of the insurance provider’s stock after selling 21,796 shares during the period. Leeward Investments LLC MA owned about 0.25% of MGIC Investment worth $16,625,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in MTG. GAMMA Investing LLC raised its holdings in MGIC Investment by 39.1% in the 1st quarter. GAMMA Investing LLC now owns 6,068 shares of the insurance provider’s stock valued at $150,000 after acquiring an additional 1,705 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in MGIC Investment by 1.5% in the 1st quarter. Janney Montgomery Scott LLC now owns 40,985 shares of the insurance provider’s stock valued at $1,016,000 after acquiring an additional 587 shares in the last quarter. Golden State Wealth Management LLC raised its holdings in MGIC Investment by 7,837.0% in the 1st quarter. Golden State Wealth Management LLC now owns 2,143 shares of the insurance provider’s stock valued at $53,000 after acquiring an additional 2,116 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in MGIC Investment by 1.4% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 818,783 shares of the insurance provider’s stock valued at $20,289,000 after acquiring an additional 11,298 shares in the last quarter. Finally, Diversified Trust Co grew its stake in shares of MGIC Investment by 93.8% in the 1st quarter. Diversified Trust Co now owns 61,479 shares of the insurance provider’s stock valued at $1,523,000 after purchasing an additional 29,759 shares during the period. Institutional investors and hedge funds own 95.58% of the company’s stock.

MGIC Investment Stock Down 0.1%

Shares of MTG opened at $27.39 on Friday. The firm 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 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 fifty day moving average price is $27.79 and its two-hundred day moving average price is $26.69. MGIC Investment Corporation has a 52 week low of $21.94 and a 52 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 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.12. The firm 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 business’s quarterly revenue was down .3% compared to the same quarter last year. During the same period last year, the company earned $0.77 EPS. On average, analysts predict that MGIC Investment Corporation will post 2.71 earnings per share for the current year.

MGIC Investment Dividend Announcement

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

Analysts Set New Price Targets

Several research firms have recently weighed in on MTG. Weiss Ratings reiterated a “buy (a-)” rating on shares of MGIC Investment in a research note on Saturday. Barclays upped their price objective on MGIC Investment from $27.00 to $28.00 and gave the company a “cautious” rating in a research note on Monday, October 6th. Finally, Keefe, Bruyette & Woods upped their price objective 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. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $26.83.

Insiders Place Their Bets

In other news, CEO Timothy J. Mattke sold 139,203 shares of the 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 transaction, the chief executive officer owned 1,100,994 shares of the company’s stock, valued at $29,220,380.76. This represents a 11.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Salvatore A. Miosi sold 30,000 shares of the stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $28.15, for a total value of $844,500.00. Following the completion of the transaction, the chief operating officer directly owned 189,401 shares in the company, 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. Insiders sold a total of 338,406 shares of company stock worth $9,096,557 over the last quarter. Corporate insiders own 1.05% of the company’s stock.

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.