Los Angeles Capital Management LLC Purchases 153,566 Shares of MGIC Investment Corporation $MTG

Los Angeles Capital Management LLC increased its position in MGIC Investment Corporation (NYSE:MTG) by 86.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 330,598 shares of the insurance provider’s stock after buying an additional 153,566 shares during the quarter. Los Angeles Capital Management LLC’s holdings in MGIC Investment were worth $9,204,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. WPG Advisers LLC purchased a new position in shares of MGIC Investment during the first quarter worth approximately $26,000. True Wealth Design LLC boosted its stake in shares of MGIC Investment by 262.5% in the 2nd quarter. True Wealth Design LLC now owns 1,004 shares of the insurance provider’s stock valued at $28,000 after purchasing an additional 727 shares in the last quarter. Hantz Financial Services Inc. grew its holdings in shares of MGIC Investment by 3,067.6% during the 2nd 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 last quarter. Cullen Frost Bankers Inc. purchased a new position in MGIC Investment in the 1st quarter worth $33,000. Finally, Quarry LP bought a new stake in MGIC Investment in the first quarter worth $38,000. Hedge funds and other institutional investors own 95.58% of the company’s stock.

MGIC Investment Stock Performance

Shares of NYSE:MTG opened at $27.99 on Monday. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.13. The company has a 50-day moving average price of $27.74 and a 200-day moving average price of $26.98. The company has a market cap of $6.26 billion, a price-to-earnings ratio of 9.00, a price-to-earnings-growth ratio of 1.91 and a beta of 0.92. MGIC Investment Corporation has a 12 month low of $21.94 and a 12 month high of $29.01.

MGIC Investment (NYSE:MTG) last announced 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 company had revenue of $304.51 million for the quarter, compared to the consensus estimate of $308.16 million. MGIC Investment had a return on equity of 14.63% and a net margin of 61.96%.MGIC Investment’s revenue was down .7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.77 EPS. As a group, equities analysts anticipate that MGIC Investment Corporation will post 2.71 EPS for the current year.

MGIC Investment Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Thursday, November 6th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, November 6th. This represents a $0.60 annualized dividend and a dividend yield of 2.1%. MGIC Investment’s payout ratio is 19.29%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Weiss Ratings restated a “buy (a-)” rating on shares of MGIC Investment in a research report on Wednesday, October 8th. Barclays increased their target price on MGIC Investment from $27.00 to $28.00 and gave the company a “cautious” rating in a report on Monday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $26.80.

Insider Activity at MGIC Investment

In related news, COO Salvatore A. Miosi sold 30,000 shares of the firm’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $28.15, for a total value of $844,500.00. Following the completion of the sale, the chief operating officer owned 189,401 shares of the company’s stock, valued at $5,331,638.15. This trade represents a 13.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Paula C. Maggio sold 20,000 shares of the company’s stock in a transaction on Friday, October 31st. The stock was sold at an average price of $27.44, for a total transaction of $548,800.00. Following the completion of the transaction, the executive vice president owned 117,395 shares of the company’s stock, valued at $3,221,318.80. This trade represents a 14.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 219,203 shares of company stock worth $5,989,909 over the last quarter. 1.05% of the stock is owned by corporate insiders.

MGIC Investment 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 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.