MGIC Investment Corporation $MTG Shares Acquired by Impact Partnership Wealth LLC

Impact Partnership Wealth LLC lifted its position in shares of MGIC Investment Corporation (NYSE:MTG) by 6.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,821 shares of the insurance provider’s stock after buying an additional 598 shares during the period. Impact Partnership Wealth LLC’s holdings in MGIC Investment were worth $273,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in MTG. WPG Advisers LLC acquired a new stake in MGIC Investment in the 1st quarter valued at approximately $26,000. Hantz Financial Services Inc. increased its holdings in MGIC Investment by 3,067.6% in the 2nd quarter. Hantz Financial Services Inc. now owns 1,077 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 1,043 shares during the last quarter. Cullen Frost Bankers Inc. acquired a new stake in MGIC Investment in the 1st quarter valued at approximately $33,000. Quarry LP acquired a new stake in MGIC Investment in the 1st quarter valued at approximately $38,000. Finally, Geneos Wealth Management Inc. increased its holdings in MGIC Investment by 88.0% in 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 last quarter. Institutional investors and hedge funds own 95.58% of the company’s stock.

Insider Activity

In related news, CEO Timothy J. Mattke sold 139,203 shares of the business’s stock in a transaction dated Tuesday, October 7th. The shares were sold at an average price of $27.09, for a total transaction of $3,771,009.27. Following the sale, the chief executive officer owned 961,791 shares of the company’s stock, valued at approximately $26,054,918.19. The trade was a 12.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Salvatore A. Miosi sold 30,000 shares of the company’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $28.15, for a total transaction of $844,500.00. Following the completion of the sale, the chief operating officer directly owned 189,401 shares in the company, valued at $5,331,638.15. This trade represents a 13.67% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 308,406 shares of company stock worth $8,309,957. Insiders own 1.05% of the company’s stock.

MGIC Investment Price Performance

MGIC Investment stock opened at $27.48 on Friday. The company has a fifty day simple moving average of $27.75 and a 200-day simple moving average of $26.78. MGIC Investment Corporation has a 12-month low of $21.94 and a 12-month high of $29.01. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.13. The stock has a market cap of $6.33 billion, a P/E ratio of 8.83, a price-to-earnings-growth ratio of 1.91 and a beta of 0.88.

MGIC Investment (NYSE:MTG) last announced its quarterly earnings results on Wednesday, October 29th. The insurance provider reported $0.83 EPS for the quarter, topping the consensus estimate of $0.72 by $0.11. MGIC Investment had a net margin of 61.96% and a return on equity of 14.63%. The firm had revenue of $304.51 million for the quarter, compared to analyst estimates of $308.16 million. During the same period last year, the business earned $0.77 EPS. MGIC Investment’s revenue for the quarter was down .7% compared to the same quarter last year. Equities analysts expect that MGIC Investment Corporation will post 2.71 EPS for the current fiscal year.

MGIC Investment Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Thursday, November 6th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Thursday, November 6th. This represents a $0.60 annualized dividend and a dividend yield of 2.2%. MGIC Investment’s payout ratio is presently 19.67%.

Analysts Set New Price Targets

Several research firms recently weighed in on MTG. Keefe, Bruyette & Woods lifted their target price on shares of MGIC Investment from $26.00 to $27.00 and gave the company a “market perform” rating in a report on Monday, July 7th. Weiss Ratings reissued a “buy (a-)” rating on shares of MGIC Investment in a research report on Wednesday, October 8th. Finally, Barclays raised their price target on shares of MGIC Investment from $27.00 to $28.00 and gave the company a “cautious” rating in a research report on Monday, October 6th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $26.83.

MGIC Investment 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.