Capstone Investment Advisors LLC Makes New Investment in MGIC Investment Corporation $MTG

Capstone Investment Advisors LLC bought a new position in shares of MGIC Investment Corporation (NYSE:MTG) in the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 26,146 shares of the insurance provider’s stock, valued at approximately $737,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Newbridge Financial Services Group Inc. acquired a new position in MGIC Investment during the third quarter valued at approximately $28,000. Geneos Wealth Management Inc. raised its holdings in MGIC Investment by 88.0% in the first quarter. Geneos Wealth Management Inc. now owns 1,745 shares of the insurance provider’s stock worth $43,000 after purchasing an additional 817 shares during the period. SBI Securities Co. Ltd. raised its holdings in MGIC Investment by 40.3% in the fourth quarter. SBI Securities Co. Ltd. now owns 1,461 shares of the insurance provider’s stock worth $43,000 after purchasing an additional 420 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of MGIC Investment during the second quarter worth $62,000. Finally, Harbor Investment Advisory LLC boosted its position in shares of MGIC Investment by 613.0% during the second quarter. Harbor Investment Advisory LLC now owns 2,574 shares of the insurance provider’s stock worth $73,000 after purchasing an additional 2,213 shares in the last quarter. 95.58% of the stock is owned by institutional investors.

MGIC Investment Price Performance

Shares of MTG stock opened at $31.08 on Friday. The firm has a fifty day moving average of $29.51 and a 200-day moving average of $27.55. 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 Corporation has a 12-month low of $24.69 and a 12-month high of $31.89. The company has a market capitalization of $6.38 billion, a price-to-earnings ratio of 9.71, a P/E/G ratio of 0.79 and a beta of 0.66.

MGIC Investment (NYSE:MTG) last posted its quarterly earnings data on Wednesday, July 29th. The insurance provider reported $0.87 EPS for the quarter, beating the consensus estimate of $0.76 by $0.11. The business had revenue of $295.39 million for the quarter, compared to analysts’ expectations of $297.54 million. MGIC Investment had a net margin of 59.20% and a return on equity of 13.90%. The firm’s revenue was down 2.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.82 EPS. As a group, equities research analysts predict that MGIC Investment Corporation will post 3.24 earnings per share for the current fiscal 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 issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.2%. This is a positive change from MGIC Investment’s previous quarterly dividend of $0.15. The ex-dividend date was Wednesday, August 5th. MGIC Investment’s dividend payout ratio is presently 21.25%.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Weiss Ratings upgraded shares of MGIC Investment from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday, August 19th. Keefe, Bruyette & Woods lifted their target price on MGIC Investment from $29.00 to $30.00 and gave the stock a “market perform” rating in a report on Friday, July 31st. Zacks Research raised MGIC Investment from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. Roth Capital restated a “buy” rating and issued a $35.00 price target on shares of MGIC Investment in a report on Thursday, July 30th. Finally, Royal Bank Of Canada raised their price target on MGIC Investment from $28.00 to $32.00 and gave the stock a “sector perform” rating in a research report on Friday, July 31st. Two 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 company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.60.

Insider Activity

In other news, EVP Paula C. Maggio sold 20,000 shares of the company’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $30.30, for a total transaction of $606,000.00. Following the completion of the transaction, 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 value of $761,400.00. Following the transaction, the chief operating officer 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 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. 1.34% of the stock is owned by corporate 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.