MGIC Investment Target of Unusually Large Options Trading (NYSE:MTG)

MGIC Investment Co. (NYSE:MTG) was the recipient of some unusual options trading on Tuesday. Stock investors acquired 6,042 put options on the company. This represents an increase of approximately 811% compared to the typical daily volume of 663 put options.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp increased its position in shares of MGIC Investment by 0.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 4,140,107 shares of the insurance provider’s stock worth $61,936,000 after purchasing an additional 11,360 shares during the last quarter. Gyon Technologies Capital Management LP grew its stake in MGIC Investment by 11.4% in the third quarter. Gyon Technologies Capital Management LP now owns 141,176 shares of the insurance provider’s stock worth $2,112,000 after purchasing an additional 14,474 shares in the last quarter. Colony Group LLC increased its holdings in MGIC Investment by 20.5% in the third quarter. Colony Group LLC now owns 13,279 shares of the insurance provider’s stock valued at $199,000 after buying an additional 2,261 shares during the last quarter. Schonfeld Strategic Advisors LLC raised its stake in MGIC Investment by 28.0% during the third quarter. Schonfeld Strategic Advisors LLC now owns 113,966 shares of the insurance provider’s stock valued at $1,705,000 after buying an additional 24,910 shares in the last quarter. Finally, Captrust Financial Advisors lifted its holdings in MGIC Investment by 8.2% during the 3rd quarter. Captrust Financial Advisors now owns 15,034 shares of the insurance provider’s stock worth $225,000 after buying an additional 1,133 shares during the last quarter. Hedge funds and other institutional investors own 95.13% of the company’s stock.

NYSE:MTG opened at $15.09 on Wednesday. The stock has a market cap of $4.91 billion, a price-to-earnings ratio of 8.53, a price-to-earnings-growth ratio of 1.70 and a beta of 1.72. MGIC Investment has a one year low of $11.56 and a one year high of $16.67. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.34 and a current ratio of 0.34. The business’s 50-day simple moving average is $15.60 and its 200 day simple moving average is $14.77.

MGIC Investment (NYSE:MTG) last posted its quarterly earnings data on Wednesday, November 3rd. The insurance provider reported $0.46 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.46. The company had revenue of $294.74 million for the quarter. MGIC Investment had a return on equity of 12.61% and a net margin of 51.30%. During the same quarter in the prior year, the firm earned $0.43 earnings per share. On average, equities research analysts predict that MGIC Investment will post 1.76 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 23rd. Investors of record on Thursday, November 11th were issued a $0.08 dividend. The ex-dividend date was Tuesday, November 9th. This represents a $0.32 annualized dividend and a yield of 2.12%. MGIC Investment’s dividend payout ratio is presently 18.08%.

Several brokerages have commented on MTG. B. Riley upped their price target on MGIC Investment from $18.00 to $19.00 and gave the stock a “buy” rating in a research note on Wednesday, October 13th. Bank of America cut shares of MGIC Investment from a “buy” rating to a “neutral” rating and lifted their price target for the company from $16.00 to $16.50 in a research report on Wednesday, November 17th. Royal Bank of Canada increased their price objective on shares of MGIC Investment from $15.00 to $16.00 and gave the stock a “sector perform” rating in a research report on Friday, August 6th. Credit Suisse Group lifted their target price on shares of MGIC Investment from $15.00 to $16.00 and gave the company a “neutral” rating in a report on Monday, October 11th. Finally, Barclays increased their price target on MGIC Investment from $18.00 to $19.00 and gave the company an “overweight” rating in a report on Friday, August 6th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $17.07.

MGIC Investment Company Profile

MGIC Investment Corp. is a private mortgage insurer that serves lenders throughout the United States, and Puerto Rico. It also provides lenders with underwriting and other services and products related to home mortgage lending through its subsidiaries, such as Mortgage Guaranty Insurance Corp. and MGIC Indemnity Corp.

Featured Story: What is the LIBOR?

Receive News & Ratings for MGIC Investment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MGIC Investment and related companies with MarketBeat.com's FREE daily email newsletter.