MGIC Investment (NYSE:MTG) EVP Paula Maggio Sells 20,000 Shares of Stock

MGIC Investment Corporation (NYSE:MTG) EVP Paula Maggio sold 20,000 shares of the firm’s stock in a transaction on Friday, February 6th. The shares were sold at an average price of $27.51, for a total value of $550,200.00. Following the sale, the executive vice president directly owned 114,689 shares of the company’s stock, valued at $3,155,094.39. This represents a 14.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

MGIC Investment Price Performance

NYSE:MTG opened at $26.60 on Tuesday. The company has a market cap of $5.95 billion, a P/E ratio of 8.47, a P/E/G ratio of 2.17 and a beta of 0.83. The firm’s fifty day moving average price is $28.05 and its two-hundred day moving average price is $27.78. MGIC Investment Corporation has a one year low of $21.94 and a one year high of $29.97. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.78 and a quick ratio of 1.48.

MGIC Investment (NYSE:MTG) last announced its earnings results on Monday, February 2nd. The insurance provider reported $0.75 EPS for the quarter, topping the consensus estimate of $0.73 by $0.02. MGIC Investment had a net margin of 60.84% and a return on equity of 14.33%. The business had revenue of $298.65 million during the quarter, compared to the consensus estimate of $308.19 million. During the same quarter in the previous year, the firm posted $0.72 EPS. MGIC Investment’s revenue was down .9% compared to the same quarter last year. Equities analysts expect 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 will be paid on Friday, March 6th. Stockholders of record on Tuesday, February 17th will be paid a dividend of $0.15 per share. The ex-dividend date is Tuesday, February 17th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.3%. MGIC Investment’s dividend payout ratio (DPR) is 19.11%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Alpine Bank Wealth Management bought a new position in MGIC Investment in the third quarter valued at about $28,000. Newbridge Financial Services Group Inc. acquired a new stake in MGIC Investment during the 3rd quarter worth about $28,000. True Wealth Design LLC increased its holdings 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 worth $28,000 after purchasing an additional 727 shares in the last quarter. SBI Securities Co. Ltd. increased its stake in shares of MGIC Investment by 61.1% in the 3rd quarter. SBI Securities Co. Ltd. now owns 1,041 shares of the insurance provider’s stock valued at $30,000 after acquiring an additional 395 shares in the last quarter. Finally, Hantz Financial Services Inc. raised its holdings in shares of 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 valued at $30,000 after purchasing an additional 1,043 shares during the period. 95.58% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Barclays decreased their price objective on MGIC Investment from $30.00 to $28.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 4th. Weiss Ratings downgraded shares of MGIC Investment from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Thursday. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of MGIC Investment from $27.00 to $28.00 and gave the stock a “market perform” rating in a research note on Thursday, December 18th. One research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $27.50.

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.