EP Wealth Advisors LLC Invests $784,000 in MGIC Investment Corporation $MTG

EP Wealth Advisors LLC purchased a new stake in shares of MGIC Investment Corporation (NYSE:MTG) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor purchased 27,796 shares of the insurance provider’s stock, valued at approximately $784,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MTG. SBI Securities Co. Ltd. boosted its position in shares of MGIC Investment by 40.3% during the fourth quarter. SBI Securities Co. Ltd. now owns 1,461 shares of the insurance provider’s stock valued at $43,000 after buying an additional 420 shares during the period. Compound Planning Inc. raised its holdings in shares of MGIC Investment by 4.3% in the first quarter. Compound Planning Inc. now owns 10,392 shares of the insurance provider’s stock worth $273,000 after buying an additional 433 shares during the period. Oregon Public Employees Retirement Fund raised its holdings in shares of MGIC Investment by 1.1% in the first quarter. Oregon Public Employees Retirement Fund now owns 44,972 shares of the insurance provider’s stock worth $1,181,000 after buying an additional 481 shares during the period. Lido Advisors LLC lifted its stake in shares of MGIC Investment by 2.2% during the 4th quarter. Lido Advisors LLC now owns 23,799 shares of the insurance provider’s stock worth $689,000 after acquiring an additional 522 shares during the last quarter. Finally, Victory Financial Group LLC lifted its stake in shares of MGIC Investment by 1.9% during the 3rd quarter. Victory Financial Group LLC now owns 27,994 shares of the insurance provider’s stock worth $794,000 after acquiring an additional 535 shares during the last quarter. 95.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on MTG. Weiss Ratings upgraded MGIC Investment from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday. Roth Capital reiterated a “buy” rating and set a $35.00 target price on shares of MGIC Investment in a research report on Thursday, July 30th. Keefe, Bruyette & Woods boosted their target price on shares of MGIC Investment from $29.00 to $30.00 and gave the company a “market perform” rating in a research note on Friday, July 31st. Barclays cut their price target on shares of MGIC Investment from $29.00 to $28.00 and set an “equal weight” rating on the stock in a report on Friday, May 1st. Finally, Royal Bank Of Canada raised their price target on shares of MGIC Investment from $28.00 to $32.00 and gave the stock a “sector perform” rating in a research note on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $30.60.

MGIC Investment Trading Down 0.2%

MTG opened at $30.85 on Monday. The stock’s fifty day moving average is $29.00 and its two-hundred day moving average is $27.40. The company has a market capitalization of $6.33 billion, a P/E ratio of 9.64, a PEG ratio of 0.79 and a beta of 0.66. MGIC Investment Corporation has a 52 week low of $24.69 and a 52 week high of $31.89. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.13.

MGIC Investment (NYSE:MTG) last issued its earnings results on Wednesday, July 29th. The insurance provider reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.11. MGIC Investment had a return on equity of 13.90% and a net margin of 59.20%.The business had revenue of $295.39 million during the quarter, compared to analysts’ expectations of $297.54 million. During the same period in the prior year, the business earned $0.82 EPS. The business’s revenue for the quarter was down 2.9% compared to the same quarter last year. Analysts forecast that MGIC Investment Corporation will post 3.24 earnings per share for the current year.

MGIC Investment Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Wednesday, August 5th were issued a $0.17 dividend. The ex-dividend date was Wednesday, August 5th. This is an increase from MGIC Investment’s previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a dividend yield of 2.2%. MGIC Investment’s dividend payout ratio is presently 21.25%.

Insider Transactions at MGIC Investment

In related news, EVP Paula C. Maggio sold 20,000 shares of the company’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $30.30, for a total value of $606,000.00. Following the completion of the sale, the executive vice president directly owned 149,620 shares of the company’s stock, valued at $4,533,486. This represents a 11.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Salvatore A. Miosi sold 30,000 shares of the stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $25.38, for a total transaction of $761,400.00. Following the transaction, the chief operating officer owned 560,951 shares in the company, valued at approximately $14,236,936.38. The trade was a 5.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 70,937 shares of company stock valued at $1,902,340. 1.34% of the stock is owned by insiders.

MGIC Investment Company Profile

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.