Lecap Asset Management Ltd. Acquires New Holdings in MGIC Investment Corporation $MTG

Lecap Asset Management Ltd. purchased a new stake in MGIC Investment Corporation (NYSE:MTG) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 24,387 shares of the insurance provider’s stock, valued at approximately $713,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Alps Advisors Inc. grew its holdings in MGIC Investment by 60.6% during the third quarter. Alps Advisors Inc. now owns 701,943 shares of the insurance provider’s stock worth $19,914,000 after purchasing an additional 264,968 shares during the period. Lingohr Asset Management GmbH grew its holdings in MGIC Investment by 1,625.5% in the 3rd quarter. Lingohr Asset Management GmbH now owns 233,534 shares of the insurance provider’s stock valued at $6,625,000 after buying an additional 220,000 shares in the last quarter. Thrivent Financial for Lutherans lifted its holdings in shares of MGIC Investment by 17.8% during the third quarter. Thrivent Financial for Lutherans now owns 472,083 shares of the insurance provider’s stock worth $13,393,000 after buying an additional 71,474 shares in the last quarter. Tudor Investment Corp ET AL boosted its holdings in MGIC Investment by 106.1% in the 3rd quarter. Tudor Investment Corp ET AL now owns 687,445 shares of the insurance provider’s stock valued at $19,503,000 after purchasing an additional 353,935 shares during the period. Finally, Moody Aldrich Partners LLC bought a new stake in shares of MGIC Investment in the third quarter valued at approximately $4,648,000. 95.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at MGIC Investment

In other MGIC Investment news, CEO Timothy J. Mattke sold 139,202 shares of the business’s stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $26.49, for a total transaction of $3,687,460.98. Following the sale, the chief executive officer owned 1,118,005 shares of the company’s stock, valued at approximately $29,615,952.45. The trade was a 11.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Salvatore A. Miosi sold 10,931 shares of the company’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $26.25, for a total transaction of $286,938.75. Following the transaction, the chief operating officer owned 590,951 shares of the company’s stock, valued at $15,512,463.75. This trade represents a 1.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 200,133 shares of company stock worth $5,342,700 over the last quarter. Corporate insiders own 1.34% of the company’s stock.

MGIC Investment Stock Up 0.1%

Shares of NYSE MTG opened at $28.00 on Monday. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.13. The company has a market cap of $6.02 billion, a price-to-earnings ratio of 8.92, a PEG ratio of 2.22 and a beta of 0.79. MGIC Investment Corporation has a 12 month low of $23.24 and a 12 month high of $29.97. The stock has a 50-day moving average price of $26.58 and a two-hundred day moving average price of $27.41.

MGIC Investment (NYSE:MTG) last posted its quarterly earnings results on Monday, February 2nd. The insurance provider reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.02. MGIC Investment had a net margin of 60.84% and a return on equity of 14.33%. The company’s quarterly revenue was down .9% on a year-over-year basis. During the same period in the prior year, the company posted $0.72 EPS. As a group, analysts forecast 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 was paid on Friday, March 6th. Investors of record on Tuesday, February 17th were paid a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, February 17th. This represents a $0.60 annualized dividend and a yield of 2.1%. MGIC Investment’s dividend payout ratio is presently 19.11%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on MTG shares. Keefe, Bruyette & Woods increased their price objective on shares of MGIC Investment from $28.00 to $29.00 and gave the stock a “market perform” rating in a research note on Friday, April 10th. UBS Group cut their price target on shares of MGIC Investment from $29.50 to $28.00 and set a “neutral” rating for the company in a report on Thursday, March 12th. Weiss Ratings lowered shares of MGIC Investment from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Thursday, February 5th. Finally, Barclays lifted their price objective on shares of MGIC Investment from $28.00 to $29.00 and gave the company an “equal weight” rating in a research note on Monday, April 6th. One research analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $28.50.

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.