24,233 Shares in MGIC Investment Corporation $MTG Purchased by Twin Lakes Capital Management LLC

Twin Lakes Capital Management LLC purchased a new stake in shares of MGIC Investment Corporation (NYSE:MTG) in the 2nd quarter, Holdings Channel reports. The fund purchased 24,233 shares of the insurance provider’s stock, valued at approximately $683,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. increased its holdings 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 worth $43,000 after buying an additional 420 shares in the last quarter. Compound Planning Inc. grew its position in MGIC Investment by 4.3% during the 1st quarter. Compound Planning Inc. now owns 10,392 shares of the insurance provider’s stock worth $273,000 after acquiring an additional 433 shares during the last quarter. Oregon Public Employees Retirement Fund grew its position in MGIC Investment by 1.1% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 44,972 shares of the insurance provider’s stock worth $1,181,000 after acquiring an additional 481 shares during the last quarter. Lido Advisors LLC increased its holdings in MGIC Investment by 2.2% during the 4th quarter. Lido Advisors LLC now owns 23,799 shares of the insurance provider’s stock valued at $689,000 after purchasing an additional 522 shares in the last quarter. Finally, Victory Financial Group LLC increased its holdings in MGIC Investment by 1.9% during the 3rd quarter. Victory Financial Group LLC now owns 27,994 shares of the insurance provider’s stock valued at $794,000 after purchasing an additional 535 shares in the last quarter. 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, COO Salvatore A. Miosi sold 30,000 shares of the business’s 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 completion of the sale, the chief operating officer directly owned 560,951 shares of the company’s stock, valued at approximately $14,236,936.38. The trade was a 5.08% decrease in their position. The sale was disclosed in a document filed 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, EVP Paula C. Maggio sold 20,000 shares of the business’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $30.30, for a total value of $606,000.00. Following 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.34% of the company’s stock.

MGIC Investment Stock Performance

MTG stock opened at $31.08 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.19 and a quick ratio of 1.19. The company has a 50 day moving average price of $29.51 and a 200 day moving average price of $27.55. MGIC Investment Corporation has a fifty-two week low of $24.69 and a fifty-two week high of $31.89. The stock has a market capitalization of $6.38 billion, a PE ratio of 9.71, a price-to-earnings-growth ratio of 0.79 and a beta of 0.66.

MGIC Investment (NYSE:MTG) last announced its quarterly earnings data on Wednesday, July 29th. The insurance provider reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.11. The firm had revenue of $295.39 million for the quarter, compared to analyst estimates of $297.54 million. MGIC Investment had a return on equity of 13.90% and a net margin of 59.20%.The business’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same period last year, the company earned $0.82 EPS. Analysts forecast that MGIC Investment Corporation will post 3.24 EPS for the current year.

MGIC Investment Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Wednesday, August 5th were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 2.2%. This is a boost from MGIC Investment’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Wednesday, August 5th. MGIC Investment’s payout ratio is currently 21.25%.

Analyst Ratings Changes

Several equities analysts have issued reports on MTG shares. Keefe, Bruyette & Woods lifted their price objective on MGIC Investment from $29.00 to $30.00 and gave the company a “market perform” rating in a research report on Friday, July 31st. Zacks Research upgraded MGIC Investment from a “hold” rating to a “strong-buy” rating in a report on Tuesday. Royal Bank Of Canada raised their target price on MGIC Investment from $28.00 to $32.00 and gave the company a “sector perform” rating in a research note on Friday, July 31st. Barclays cut their price target on MGIC Investment from $29.00 to $28.00 and set an “equal weight” rating for the company in a report on Friday, May 1st. Finally, Roth Capital reissued a “buy” rating and set a $35.00 price objective on shares of MGIC Investment in a report on Thursday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $30.60.

MGIC Investment 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.