Savant Capital LLC Grows Stock Holdings in MGIC Investment Corporation $MTG

Savant Capital LLC grew its stake in shares of MGIC Investment Corporation (NYSE:MTG) by 327.7% during the 2nd quarter, HoldingsChannel reports. The fund owned 46,555 shares of the insurance provider’s stock after buying an additional 35,669 shares during the period. Savant Capital LLC’s holdings in MGIC Investment were worth $1,296,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Moors & Cabot Inc. bought a new stake in shares of MGIC Investment during the 2nd quarter valued at $701,000. Haven Private LLC purchased a new position in MGIC Investment during the 2nd quarter valued at about $214,000. Simon Quick Advisors LLC bought a new stake in shares of MGIC Investment during the second quarter valued at about $298,000. Impact Partnership Wealth LLC lifted its holdings in shares of MGIC Investment by 6.5% in the second quarter. Impact Partnership Wealth LLC now owns 9,821 shares of the insurance provider’s stock worth $273,000 after buying an additional 598 shares in the last quarter. Finally, Atria Investments Inc purchased a new stake in shares of MGIC Investment in the second quarter worth about $279,000. 95.58% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on MTG. Barclays boosted their price objective on shares of MGIC Investment from $27.00 to $28.00 and gave the company a “cautious” rating in a research note on Monday, October 6th. Weiss Ratings restated a “buy (a-)” rating on shares of MGIC Investment in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $26.80.

Insiders Place Their Bets

In related news, CEO Timothy J. Mattke sold 139,203 shares of the firm’s stock in a transaction dated Tuesday, October 7th. The stock was sold at an average price of $27.09, for a total transaction of $3,771,009.27. Following the transaction, the chief executive officer directly owned 961,791 shares of the company’s stock, valued at approximately $26,054,918.19. This trade represents a 12.64% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Paula C. Maggio sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $27.44, for a total value of $548,800.00. Following the completion of the sale, the executive vice president directly owned 117,395 shares of the company’s stock, valued at approximately $3,221,318.80. This represents a 14.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 219,203 shares of company stock valued at $5,989,909 over the last 90 days. Insiders own 1.05% of the company’s stock.

MGIC Investment Trading Down 0.1%

Shares of MTG opened at $28.45 on Thursday. MGIC Investment Corporation has a 1-year low of $21.94 and a 1-year high of $29.01. The company has a market capitalization of $6.37 billion, a P/E ratio of 9.15, a P/E/G ratio of 1.91 and a beta of 0.92. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.46 and a quick ratio of 1.46. The firm’s 50 day simple moving average is $27.77 and its 200 day simple moving average is $27.04.

MGIC Investment (NYSE:MTG) last issued its quarterly earnings results on Wednesday, October 29th. The insurance provider reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.11. MGIC Investment had a net margin of 61.96% and a return on equity of 14.63%. The firm had revenue of $304.51 million for the quarter, compared to analyst estimates of $308.16 million. During the same quarter in the prior year, the firm earned $0.77 EPS. The business’s revenue for the quarter was down .7% compared to the same quarter last year. Sell-side analysts forecast that MGIC Investment Corporation will post 2.71 earnings per share for the current fiscal year.

MGIC Investment Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Thursday, November 6th will be given a dividend of $0.15 per share. The ex-dividend date is Thursday, November 6th. This represents a $0.60 dividend on an annualized basis and a yield of 2.1%. MGIC Investment’s dividend payout ratio (DPR) is presently 19.29%.

MGIC Investment Profile

MGIC Investment Corporation, through its subsidiaries, provides private mortgage insurance, other mortgage credit risk management solutions, and ancillary services to lenders and government sponsored entities in the United States, the District of Columbia, Puerto Rico, and Guam. The company offers primary mortgage insurance that provides mortgage default protection on individual loans, as well as covers unpaid loan principal, delinquent interest, and various expenses associated with the default and subsequent foreclosure.