Lingohr Asset Management GmbH Grows Stock Holdings in MGIC Investment Corporation $MTG

Lingohr Asset Management GmbH lifted its holdings in shares of MGIC Investment Corporation (NYSE:MTG) by 1,625.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 233,534 shares of the insurance provider’s stock after acquiring an additional 220,000 shares during the period. MGIC Investment accounts for approximately 1.6% of Lingohr Asset Management GmbH’s investment portfolio, making the stock its 20th biggest holding. Lingohr Asset Management GmbH owned approximately 0.10% of MGIC Investment worth $6,625,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. increased its position in shares of MGIC Investment by 13.4% during the second quarter. JPMorgan Chase & Co. now owns 18,331,120 shares of the insurance provider’s stock worth $510,338,000 after purchasing an additional 2,168,940 shares in the last quarter. First Trust Advisors LP grew its stake in MGIC Investment by 48.1% during the 2nd quarter. First Trust Advisors LP now owns 7,302,263 shares of the insurance provider’s stock worth $203,295,000 after buying an additional 2,370,403 shares during the last quarter. AQR Capital Management LLC grew its stake in MGIC Investment by 92.4% during the 2nd quarter. AQR Capital Management LLC now owns 6,333,091 shares of the insurance provider’s stock worth $176,313,000 after buying an additional 3,041,446 shares during the last quarter. Allianz Asset Management GmbH lifted its stake in MGIC Investment by 40.6% in the second quarter. Allianz Asset Management GmbH now owns 5,398,356 shares of the insurance provider’s stock valued at $150,290,000 after buying an additional 1,557,970 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of MGIC Investment in the second quarter valued at approximately $95,857,000. Hedge funds and other institutional investors own 95.58% of the company’s stock.

Insider Transactions at MGIC Investment

In related news, CEO Timothy J. Mattke sold 139,203 shares of the business’s stock in a transaction dated Tuesday, January 13th. The shares were sold at an average price of $26.51, for a total value of $3,690,271.53. Following the completion of the transaction, the chief executive officer owned 822,588 shares of the company’s stock, valued at approximately $21,806,807.88. The trade was a 14.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Salvatore A. Miosi sold 30,000 shares of the firm’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $27.52, for a total transaction of $825,600.00. Following the sale, the chief operating officer directly owned 159,401 shares in the company, valued at $4,386,715.52. This represents a 15.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 1.05% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on MTG shares. Barclays lifted their target price on shares of MGIC Investment from $28.00 to $30.00 and gave the company an “equal weight” rating in a report on Tuesday, January 6th. Keefe, Bruyette & Woods lifted their price objective on shares of MGIC Investment from $27.00 to $28.00 and gave the company a “market perform” rating in a research note on Thursday, December 18th. Finally, Weiss Ratings reiterated a “buy (a-)” rating on shares of MGIC Investment in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $28.00.

MGIC Investment Stock Down 0.4%

MTG stock opened at $26.90 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.48 and a quick ratio of 1.48. The company’s 50 day simple moving average is $28.23 and its 200-day simple moving average is $27.68. MGIC Investment Corporation has a 12 month low of $21.94 and a 12 month high of $29.97. The firm has a market capitalization of $6.02 billion, a PE ratio of 8.65, a P/E/G ratio of 1.50 and a beta of 0.84.

MGIC Investment (NYSE:MTG) last posted its earnings results on Wednesday, October 29th. The insurance provider reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.11. The firm had revenue of $304.51 million for the quarter, compared to analyst estimates of $308.16 million. MGIC Investment had a return on equity of 14.62% and a net margin of 61.96%.MGIC Investment’s revenue was down .7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.77 EPS. Equities analysts expect that MGIC Investment Corporation will post 2.71 earnings per share for the current fiscal year.

MGIC Investment Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Tuesday, February 17th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.2%. MGIC Investment’s dividend payout ratio (DPR) is presently 19.29%.

About MGIC Investment

MGIC Investment Corporation (NYSE: MTG) is a leading provider of private mortgage insurance in the United States. Established in 1957 as the nation’s first private mortgage insurer, MGIC helps lenders manage credit risk and facilitates homeownership by protecting mortgage loans against default. Headquartered in Milwaukee, Wisconsin, the company operates through its principal subsidiary, Mortgage Guaranty Insurance Corporation, and maintains relationships with a broad network of originators and servicers nationwide.

The company’s primary business activity involves issuing mortgage insurance policies that enable borrowers to purchase homes with down payments below traditional lending thresholds.