MGIC Investment Corp. (NYSE:MTG) CAO Julie K. Sperber sold 5,535 shares of the stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $14.28, for a total value of $79,039.80. Following the transaction, the chief accounting officer now owns 82,239 shares of the company’s stock, valued at approximately $1,174,372.92. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.
Shares of MTG opened at $13.61 on Friday. The stock’s 50-day simple moving average is $14.00 and its 200 day simple moving average is $13.52. The stock has a market capitalization of $4.82 billion, a price-to-earnings ratio of 7.32, a price-to-earnings-growth ratio of 1.57 and a beta of 1.47. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.29 and a current ratio of 0.29. MGIC Investment Corp. has a 52-week low of $11.85 and a 52-week high of $15.24.
MGIC Investment (NYSE:MTG) last issued its quarterly earnings data on Tuesday, February 4th. The insurance provider reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.07. The business had revenue of $311.60 million for the quarter, compared to analysts’ expectations of $307.10 million. MGIC Investment had a return on equity of 16.73% and a net margin of 55.50%. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.42 EPS. On average, research analysts forecast that MGIC Investment Corp. will post 1.81 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Tuesday, February 11th will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $0.24 dividend on an annualized basis and a yield of 1.76%. MGIC Investment’s dividend payout ratio (DPR) is 13.04%.
Several research analysts have recently weighed in on the company. BTIG Research reissued a “buy” rating and set a $18.00 price objective on shares of MGIC Investment in a report on Thursday, February 6th. ValuEngine raised MGIC Investment from a “strong sell” rating to a “sell” rating in a report on Wednesday, January 15th. B. Riley increased their price objective on MGIC Investment from $18.00 to $19.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Finally, Deutsche Bank increased their price objective on MGIC Investment from $18.00 to $18.50 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $17.38.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Cubist Systematic Strategies LLC raised its holdings in shares of MGIC Investment by 11.1% during the 4th quarter. Cubist Systematic Strategies LLC now owns 135,337 shares of the insurance provider’s stock valued at $1,918,000 after buying an additional 13,511 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of MGIC Investment by 24.0% during the 4th quarter. AQR Capital Management LLC now owns 8,361,055 shares of the insurance provider’s stock valued at $118,476,000 after buying an additional 1,620,455 shares in the last quarter. Advisory Alpha LLC purchased a new position in shares of MGIC Investment during the 4th quarter valued at about $28,000. Schonfeld Strategic Advisors LLC raised its holdings in shares of MGIC Investment by 35.8% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 1,610,879 shares of the insurance provider’s stock valued at $22,825,000 after buying an additional 424,486 shares in the last quarter. Finally, Marshall Wace LLP raised its holdings in shares of MGIC Investment by 17.6% during the 4th quarter. Marshall Wace LLP now owns 1,890,697 shares of the insurance provider’s stock valued at $26,791,000 after buying an additional 282,301 shares in the last quarter. 89.36% of the stock is currently owned by institutional investors and hedge funds.
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 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.
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