Integrated Quantitative Investments LLC Purchases Shares of 35,503 MGIC Investment Corporation $MTG

Integrated Quantitative Investments LLC acquired a new position in MGIC Investment Corporation (NYSE:MTG) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 35,503 shares of the insurance provider’s stock, valued at approximately $988,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Millennium Management LLC increased its holdings in MGIC Investment by 913.6% in the 1st quarter. Millennium Management LLC now owns 2,300,596 shares of the insurance provider’s stock worth $57,009,000 after buying an additional 2,073,633 shares during the period. Allianz Asset Management GmbH boosted its holdings in shares of MGIC Investment by 40.6% in the 2nd quarter. Allianz Asset Management GmbH now owns 5,398,356 shares of the insurance provider’s stock valued at $150,290,000 after acquiring an additional 1,557,970 shares during the last quarter. Jane Street Group LLC boosted its holdings in shares of MGIC Investment by 5,891.9% in the 1st quarter. Jane Street Group LLC now owns 1,373,050 shares of the insurance provider’s stock valued at $34,024,000 after acquiring an additional 1,350,135 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of MGIC Investment in the second quarter worth $29,139,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of MGIC Investment by 4.8% during the first quarter. JPMorgan Chase & Co. now owns 16,162,180 shares of the insurance provider’s stock worth $400,499,000 after purchasing an additional 743,212 shares during the last quarter. Institutional investors and hedge funds own 95.58% of the company’s stock.

Insider Buying and Selling

In other MGIC Investment news, COO Salvatore A. Miosi sold 30,000 shares of the stock in a transaction that occurred on Wednesday, October 1st. The stock was 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 of the company’s stock, valued at $5,331,638.15. This represents a 13.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Timothy J. Mattke sold 139,203 shares of the firm’s stock in a transaction that occurred on Tuesday, October 7th. The shares were sold at an average price of $27.09, for a total value of $3,771,009.27. Following the completion of the transaction, the chief executive officer owned 961,791 shares in the company, valued at approximately $26,054,918.19. This trade represents a 12.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 219,203 shares of company stock worth $5,989,909 in the last 90 days. Insiders own 1.05% of the company’s stock.

MGIC Investment Stock Down 0.0%

Shares of MTG opened at $28.19 on Friday. The firm has a market cap of $6.31 billion, a P/E ratio of 9.06, a PEG ratio of 1.91 and a beta of 0.92. MGIC Investment Corporation has a 12 month low of $21.94 and a 12 month high of $29.01. The stock’s 50 day moving average is $27.76 and its two-hundred day moving average is $27.09. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.13.

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

MGIC Investment Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Thursday, November 6th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, November 6th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.1%. MGIC Investment’s payout ratio is currently 19.29%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of MGIC Investment in a research report on Wednesday, October 8th. Barclays upped their target price on MGIC Investment from $27.00 to $28.00 and gave the stock a “cautious” rating in a research note on Monday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, MGIC Investment presently has a consensus rating of “Hold” and an average target price of $26.80.

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 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.