Burns Matteson Capital Management LLC Purchases Shares of 20,064 MGIC Investment Corporation $MTG

Burns Matteson Capital Management LLC acquired a new position in shares of MGIC Investment Corporation (NYSE:MTG) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 20,064 shares of the insurance provider’s stock, valued at approximately $586,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MTG. Norges Bank acquired a new stake in shares of MGIC Investment in the 2nd quarter valued at $95,857,000. AQR Capital Management LLC increased its position in shares of MGIC Investment by 92.4% during the 2nd quarter. AQR Capital Management LLC now owns 6,333,091 shares of the insurance provider’s stock worth $176,313,000 after purchasing an additional 3,041,446 shares in the last quarter. First Trust Advisors LP lifted its holdings in MGIC Investment by 48.1% during the 2nd quarter. First Trust Advisors LP now owns 7,302,263 shares of the insurance provider’s stock valued at $203,295,000 after purchasing an additional 2,370,403 shares during the last quarter. Assetmark Inc. lifted its holdings in MGIC Investment by 1,208.1% during the 3rd quarter. Assetmark Inc. now owns 1,674,152 shares of the insurance provider’s stock valued at $47,496,000 after purchasing an additional 1,546,173 shares during the last quarter. Finally, Caisse de depot et placement du Quebec boosted its position in MGIC Investment by 20.4% in the third quarter. Caisse de depot et placement du Quebec now owns 3,943,965 shares of the insurance provider’s stock valued at $111,890,000 after buying an additional 667,876 shares in the last quarter. 95.58% of the stock is owned by institutional investors.

MGIC Investment Stock Up 0.6%

Shares of NYSE MTG opened at $26.24 on Wednesday. MGIC Investment Corporation has a 12-month low of $21.94 and a 12-month high of $29.97. The firm’s 50-day simple moving average is $26.48 and its 200 day simple moving average is $27.52. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.13. The company has a market cap of $5.64 billion, a price-to-earnings ratio of 8.36, a price-to-earnings-growth ratio of 2.07 and a beta of 0.83.

MGIC Investment (NYSE:MTG) last posted its quarterly earnings data on Monday, February 2nd. The insurance provider reported $0.75 earnings per share for the quarter, beating 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%. During the same period in the previous year, the firm posted $0.72 earnings per share. The firm’s quarterly revenue was down .9% on a year-over-year basis. On average, research analysts expect that MGIC Investment Corporation will post 2.71 earnings per share for the current fiscal year.

MGIC Investment Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 6th. Investors of record on Tuesday, February 17th were issued a $0.15 dividend. The ex-dividend date of this dividend was 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 currently 19.11%.

Wall Street Analyst Weigh In

Several analysts have weighed in on MTG shares. Weiss Ratings cut shares of MGIC Investment from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Thursday, February 5th. UBS Group reduced their target price on MGIC Investment from $29.50 to $28.00 and set a “neutral” rating on the stock in a report on Thursday, March 12th. Barclays decreased their price target on MGIC Investment from $30.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 4th. Finally, Keefe, Bruyette & Woods raised their price target on MGIC Investment from $27.00 to $28.00 and gave the company a “market perform” rating in a report on Thursday, December 18th. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $28.00.

Insider Buying and Selling

In other MGIC Investment news, EVP Paula C. Maggio sold 20,000 shares of the stock in a transaction on Friday, February 6th. The stock was sold at an average price of $27.51, for a total value of $550,200.00. Following the transaction, the executive vice president directly owned 114,689 shares in the company, valued at approximately $3,155,094.39. This trade represents a 14.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Salvatore A. Miosi sold 30,000 shares of MGIC Investment stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $27.27, for a total value of $818,100.00. Following the completion of the sale, the chief operating officer directly owned 454,245 shares of the company’s stock, valued at $12,387,261.15. This trade represents a 6.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 189,203 shares of company stock worth $5,058,572 in the last quarter. Insiders own 1.34% of the company’s stock.

MGIC Investment Company Profile

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.