Universal Beteiligungs und Servicegesellschaft mbH Boosts Stock Holdings in MGIC Investment Corporation $MTG

Universal Beteiligungs und Servicegesellschaft mbH grew its holdings in MGIC Investment Corporation (NYSE:MTG) by 23.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 578,926 shares of the insurance provider’s stock after purchasing an additional 108,399 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH owned approximately 0.25% of MGIC Investment worth $16,117,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Millennium Management LLC increased its holdings in MGIC Investment by 913.6% during the first quarter. Millennium Management LLC now owns 2,300,596 shares of the insurance provider’s stock valued at $57,009,000 after buying an additional 2,073,633 shares during the period. Allianz Asset Management GmbH lifted its holdings in MGIC Investment by 40.6% during the second quarter. Allianz Asset Management GmbH now owns 5,398,356 shares of the insurance provider’s stock worth $150,290,000 after buying an additional 1,557,970 shares during the period. Jane Street Group LLC boosted its position in MGIC Investment by 5,891.9% during the 1st quarter. Jane Street Group LLC now owns 1,373,050 shares of the insurance provider’s stock valued at $34,024,000 after acquiring an additional 1,350,135 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of MGIC Investment in the 2nd quarter valued at $29,139,000. Finally, JPMorgan Chase & Co. increased its holdings in shares of MGIC Investment by 4.8% in the 1st quarter. JPMorgan Chase & Co. now owns 16,162,180 shares of the insurance provider’s stock valued at $400,499,000 after acquiring an additional 743,212 shares during the period. Hedge funds and other institutional investors own 95.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Barclays upped their price objective on MGIC Investment from $27.00 to $28.00 and gave the stock a “cautious” rating in a research note on Monday, October 6th. Weiss Ratings reiterated 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. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $26.80.

Insider Buying and Selling

In other MGIC Investment news, COO Salvatore A. Miosi sold 30,000 shares of MGIC Investment stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $28.15, for a total transaction 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 approximately $5,331,638.15. The trade was a 13.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Paula C. Maggio sold 20,000 shares of the stock in a transaction dated 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 transaction, the executive vice president directly owned 117,395 shares in the company, valued at $3,221,318.80. This represents a 14.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 219,203 shares of company stock worth $5,989,909 in the last 90 days. Insiders own 1.05% of the company’s stock.

MGIC Investment Stock Performance

Shares of MTG opened at $27.83 on Wednesday. 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 firm has a market cap of $6.23 billion, a PE ratio of 8.95, a P/E/G 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. The stock has a fifty day moving average price of $27.73 and a 200-day moving average price of $27.13.

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. MGIC Investment had a return on equity of 14.63% and a net margin of 61.96%.The company had revenue of $304.51 million for the quarter, compared to analyst estimates of $308.16 million. During the same period in the prior year, the company posted $0.77 EPS. The firm’s quarterly revenue was down .7% compared to the same quarter last year. Equities research analysts predict that MGIC Investment Corporation will post 2.71 earnings per share for the current fiscal year.

MGIC Investment Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Thursday, November 6th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Thursday, November 6th. MGIC Investment’s dividend payout ratio is presently 19.29%.

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.