MGIC Investment Corporation $MTG Shares Acquired by Campbell & CO Investment Adviser LLC

Campbell & CO Investment Adviser LLC boosted its position in MGIC Investment Corporation (NYSE:MTG) by 129.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 79,926 shares of the insurance provider’s stock after buying an additional 45,158 shares during the period. Campbell & CO Investment Adviser LLC’s holdings in MGIC Investment were worth $2,268,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in the business. FCG Investment Co acquired a new stake in shares of MGIC Investment during the 2nd quarter worth approximately $846,000. Sequoia Financial Advisors LLC acquired a new stake in shares of MGIC Investment during the 2nd quarter valued at about $568,000. North Star Asset Management Inc. acquired a new position in MGIC Investment in the 2nd quarter worth about $375,000. Moody Aldrich Partners LLC acquired a new stake in MGIC Investment in the third quarter valued at approximately $4,648,000. Finally, WINTON GROUP Ltd purchased a new stake in MGIC Investment in the 2nd quarter worth $6,797,000. 95.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Keefe, Bruyette & Woods lifted their price target on MGIC Investment from $27.00 to $28.00 and gave the stock a “market perform” rating in a research note on Thursday, December 18th. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of MGIC Investment in a research note on Wednesday, October 8th. Finally, Barclays increased their price target on shares of MGIC Investment from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 6th. One research analyst has rated the stock with a Strong Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $28.00.

MGIC Investment Trading Up 0.8%

NYSE MTG opened at $26.40 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.48 and a quick ratio of 1.48. The stock has a market capitalization of $5.91 billion, a P/E ratio of 8.49, a PEG ratio of 1.45 and a beta of 0.84. The firm’s 50-day moving average is $28.53 and its two-hundred day moving average is $27.72. MGIC Investment Corporation has a 12 month low of $21.94 and a 12 month high of $29.97.

MGIC Investment (NYSE:MTG) last released its quarterly earnings results on Wednesday, October 29th. The insurance provider reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.11. The business had revenue of $304.51 million for the quarter, compared to the consensus estimate of $308.16 million. MGIC Investment had a net margin of 61.96% and a return on equity of 14.62%. The business’s revenue was down .7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.77 EPS. On average, sell-side analysts anticipate that MGIC Investment Corporation will post 2.71 earnings per share for the current year.

MGIC Investment Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Investors of record on Thursday, November 6th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date was Thursday, November 6th. MGIC Investment’s dividend payout ratio (DPR) is 19.29%.

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, November 3rd. The shares were sold at an average price of $27.52, for a total transaction of $825,600.00. Following the sale, the chief operating officer directly owned 159,401 shares in the company, valued at $4,386,715.52. This represents a 15.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Paula C. Maggio sold 20,000 shares of the stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $27.44, for a total transaction of $548,800.00. Following the sale, the executive vice president directly owned 117,395 shares in the company, valued at $3,221,318.80. This represents a 14.56% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 189,203 shares of company stock valued at $5,064,672 in the last three months. 1.05% of the stock is owned by corporate insiders.

About MGIC Investment

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.