Haven Private LLC Takes $214,000 Position in MGIC Investment Corporation $MTG

Haven Private LLC bought a new stake in MGIC Investment Corporation (NYSE:MTG) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 7,694 shares of the insurance provider’s stock, valued at approximately $214,000.

Other institutional investors have also recently added to or reduced their stakes in the company. 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.

MGIC Investment Stock Performance

Shares of MTG stock opened at $27.39 on Friday. 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 firm has a fifty day moving average price of $27.73 and a 200 day moving average price of $26.80. The company has a market cap of $6.31 billion, a P/E ratio of 8.81, a PEG ratio of 1.91 and a beta of 0.88. MGIC Investment Corporation has a 12 month low of $21.94 and a 12 month high of $29.01.

MGIC Investment (NYSE:MTG) last issued its earnings results on Wednesday, October 29th. The insurance provider reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.11. The firm had revenue of $304.51 million during the quarter, compared to the consensus estimate of $308.16 million. MGIC Investment had a net margin of 61.96% and a return on equity of 14.63%. The company’s revenue was down .7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.77 earnings per share. Sell-side analysts predict that MGIC Investment Corporation will post 2.71 earnings per share for the current fiscal year.

MGIC Investment Dividend Announcement

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

Analyst Upgrades and Downgrades

MTG has been the subject of several research reports. Weiss Ratings restated a “buy (a-)” rating on shares of MGIC Investment in a research note on Wednesday, October 8th. Barclays boosted their price target on shares of MGIC Investment from $27.00 to $28.00 and gave the stock a “cautious” rating in a research note on Monday, October 6th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of MGIC Investment from $26.00 to $27.00 and gave the stock a “market perform” rating in a research note on Monday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $26.83.

Insiders Place Their Bets

In related news, COO Salvatore A. Miosi sold 30,000 shares of the business’s stock in a transaction on 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 transaction, the chief operating officer owned 189,401 shares in the company, valued at approximately $5,331,638.15. The trade was a 13.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Timothy J. Mattke sold 139,203 shares of the business’s stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $26.54, for a total transaction of $3,694,447.62. Following the transaction, the chief executive officer owned 1,100,994 shares of the company’s stock, valued at approximately $29,220,380.76. The trade was a 11.22% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 308,406 shares of company stock valued at $8,309,957. Insiders own 1.05% of the company’s stock.

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.