Creative Planning Has $1.01 Million Stock Holdings in MGIC Investment Corporation $MTG

Creative Planning raised its position in shares of MGIC Investment Corporation (NYSE:MTG) by 51.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,131 shares of the insurance provider’s stock after purchasing an additional 12,249 shares during the period. Creative Planning’s holdings in MGIC Investment were worth $1,006,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. WPG Advisers LLC acquired a new position in shares of MGIC Investment during the 1st quarter worth $26,000. True Wealth Design LLC grew its position in MGIC Investment by 262.5% in the second quarter. True Wealth Design LLC now owns 1,004 shares of the insurance provider’s stock valued at $28,000 after acquiring an additional 727 shares during the last quarter. Hantz Financial Services Inc. raised its stake in MGIC Investment by 3,067.6% during the second quarter. Hantz Financial Services Inc. now owns 1,077 shares of the insurance provider’s stock worth $30,000 after acquiring an additional 1,043 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of MGIC Investment by 118.0% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,308 shares of the insurance provider’s stock worth $36,000 after acquiring an additional 708 shares during the last quarter. Finally, Quarry LP acquired a new stake in shares of MGIC Investment in the 1st quarter valued at approximately $38,000. Institutional investors and hedge funds own 95.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MTG. Barclays lifted their price target on shares of MGIC Investment from $27.00 to $28.00 and gave the company a “cautious” rating in a report on Monday, October 6th. Weiss Ratings reiterated a “buy (a-)” rating on shares of MGIC Investment in a 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $26.80.

Insiders Place Their Bets

In related news, EVP Paula C. Maggio sold 20,000 shares of MGIC Investment 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 transaction, the executive vice president directly owned 117,395 shares of the company’s stock, valued at $3,221,318.80. The trade was a 14.56% 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. Also, CEO Timothy J. Mattke sold 139,203 shares of the company’s stock in a transaction that occurred on Tuesday, October 7th. The shares were sold at an average price of $27.09, for a total value of $3,771,009.27. Following the completion of the sale, the chief executive officer owned 961,791 shares in the company, valued at $26,054,918.19. The trade was a 12.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 219,203 shares of company stock valued at $5,989,909. 1.05% of the stock is currently owned by company insiders.

MGIC Investment Stock Down 0.1%

NYSE:MTG opened at $28.35 on Monday. MGIC Investment Corporation has a one year low of $21.94 and a one year high of $29.01. 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 company has a market cap of $6.34 billion, a PE ratio of 9.12, a P/E/G ratio of 1.91 and a beta of 0.92. The firm’s 50 day simple moving average is $27.72 and its 200 day simple moving average is $27.24.

MGIC Investment (NYSE:MTG) last announced its quarterly earnings results on Wednesday, October 29th. The insurance provider reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.11. The firm had revenue of $304.51 million during the quarter, compared to analysts’ expectations of $308.16 million. MGIC Investment had a net margin of 61.96% and a return on equity of 14.63%. The company’s revenue was down .7% on a year-over-year basis. During the same period in the prior year, the company posted $0.77 EPS. On average, research analysts anticipate that MGIC Investment Corporation will post 2.71 earnings per share for the current year.

MGIC Investment Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Thursday, November 6th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Thursday, November 6th. This represents a $0.60 annualized dividend and a yield of 2.1%. MGIC Investment’s payout ratio is presently 19.29%.

MGIC Investment Company 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.