MGIC Investment Corporation $MTG Shares Bought by Aviva PLC

Aviva PLC increased its position in MGIC Investment Corporation (NYSE:MTG) by 41.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,574 shares of the insurance provider’s stock after buying an additional 10,727 shares during the quarter. Aviva PLC’s holdings in MGIC Investment were worth $1,018,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Los Angeles Capital Management LLC grew its holdings in MGIC Investment by 86.7% during the second quarter. Los Angeles Capital Management LLC now owns 330,598 shares of the insurance provider’s stock worth $9,204,000 after acquiring an additional 153,566 shares during the period. True Wealth Design LLC boosted its position in shares of MGIC Investment by 262.5% during 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. Carnegie Lake Advisors LLC grew its stake in shares of MGIC Investment by 2.6% in the 2nd quarter. Carnegie Lake Advisors LLC now owns 29,579 shares of the insurance provider’s stock worth $823,000 after purchasing an additional 750 shares during the last quarter. Savant Capital LLC raised its holdings in shares of MGIC Investment by 327.7% in the 2nd quarter. Savant Capital LLC now owns 46,555 shares of the insurance provider’s stock worth $1,296,000 after purchasing an additional 35,669 shares in the last quarter. Finally, Moors & Cabot Inc. acquired a new stake in MGIC Investment during the second quarter valued at approximately $701,000. Institutional investors own 95.58% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Paula C. Maggio sold 20,000 shares of the stock in a transaction that occurred on Friday, October 31st. The shares were 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 directly owned 117,395 shares of the company’s stock, valued at $3,221,318.80. This represents a 14.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Salvatore A. Miosi sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $27.52, for a total transaction of $825,600.00. Following the transaction, the chief operating officer directly owned 159,401 shares in the company, valued at $4,386,715.52. The trade was a 15.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 219,203 shares of company stock worth $5,989,909. 1.05% of the stock is currently owned by company insiders.

MGIC Investment Trading Down 0.1%

MGIC Investment stock opened at $28.45 on Thursday. The company has a 50 day moving average price of $27.77 and a 200 day moving average price of $27.04. MGIC Investment Corporation has a 52 week low of $21.94 and a 52 week high of $29.01. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.46 and a current ratio of 1.46. The firm has a market capitalization of $6.37 billion, a price-to-earnings ratio of 9.15, a P/E/G ratio of 1.91 and a beta of 0.92.

MGIC Investment (NYSE:MTG) last announced its earnings results on Wednesday, October 29th. The insurance provider reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 61.96% and a return on equity of 14.63%. The company’s revenue was down .7% on a year-over-year basis. During the same period in the previous year, the business earned $0.77 EPS. Research analysts forecast that MGIC Investment Corporation will post 2.71 EPS for the current year.

MGIC Investment Dividend Announcement

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

Analysts Set New Price Targets

Several research firms have issued reports on MTG. Barclays lifted their price target on shares of MGIC Investment from $27.00 to $28.00 and gave the stock a “cautious” rating in a research report on Monday, October 6th. Weiss Ratings restated a “buy (a-)” rating on shares of MGIC Investment in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $26.80.

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 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.