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

MGIC Investment Corporation (NYSE:MTG) EVP Paula Maggio sold 20,000 shares of the stock in a transaction 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 completion of the sale, the executive vice president owned 117,395 shares in the company, valued at approximately $3,221,318.80. The trade was a 14.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

MGIC Investment Stock Performance

MTG stock opened at $28.05 on Wednesday. The firm has a market cap of $6.28 billion, a price-to-earnings ratio of 9.02, a PEG ratio of 1.91 and a beta of 0.88. The business’s fifty day simple moving average is $27.73 and its two-hundred day simple moving average is $26.89. MGIC Investment Corporation has a twelve month low of $21.94 and a twelve month high of $29.01. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.13.

MGIC Investment (NYSE:MTG) last issued its earnings results on Wednesday, October 29th. The insurance provider reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.11. The business had revenue of $304.51 million for the quarter, compared to analyst estimates of $308.16 million. MGIC Investment had a net margin of 61.96% and a return on equity of 14.63%. The company’s quarterly revenue was down .7% compared to the same quarter last year. During the same period last year, the company posted $0.77 earnings per share. Analysts predict 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 will be paid on Thursday, November 20th. Stockholders of record on Thursday, November 6th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, November 6th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.1%. MGIC Investment’s dividend payout ratio (DPR) is 19.29%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on MTG. Barclays raised their price target on MGIC Investment from $27.00 to $28.00 and gave the company a “cautious” rating in a research note on Monday, October 6th. Weiss Ratings restated a “buy (a-)” rating on shares of MGIC Investment in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, MGIC Investment currently has an average rating of “Hold” and a consensus target price of $26.83.

Institutional Investors Weigh In On MGIC Investment

A number of institutional investors have recently added to or reduced their stakes in MTG. KBC Group NV raised its stake in shares of MGIC Investment by 10.2% during the 1st quarter. KBC Group NV now owns 11,417 shares of the insurance provider’s stock worth $283,000 after buying an additional 1,060 shares during the period. Cerity Partners LLC increased its stake in shares of MGIC Investment by 59.2% during the first quarter. Cerity Partners LLC now owns 78,307 shares of the insurance provider’s stock worth $1,940,000 after purchasing an additional 29,104 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of MGIC Investment by 4.2% during the first quarter. PNC Financial Services Group Inc. now owns 10,894 shares of the insurance provider’s stock worth $270,000 after purchasing an additional 437 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of MGIC Investment by 50.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 16,147 shares of the insurance provider’s stock worth $406,000 after purchasing an additional 5,393 shares in the last quarter. Finally, Sequoia Financial Advisors LLC purchased a new stake in shares of MGIC Investment during the second quarter worth about $568,000. Institutional investors own 95.58% of the company’s stock.

About MGIC Investment

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.