MGIC Investment Corporation $MTG Shares Sold by EMC Capital Management

EMC Capital Management reduced its position in shares of MGIC Investment Corporation (NYSE:MTG) by 52.5% in the second quarter, HoldingsChannel.com reports. The firm owned 15,721 shares of the insurance provider’s stock after selling 17,372 shares during the period. MGIC Investment comprises about 0.2% of EMC Capital Management’s investment portfolio, making the stock its 23rd biggest holding. EMC Capital Management’s holdings in MGIC Investment were worth $438,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of MTG. CWM LLC lifted its holdings in shares of MGIC Investment by 76.3% in the first quarter. CWM LLC now owns 8,825 shares of the insurance provider’s stock valued at $219,000 after buying an additional 3,820 shares during the period. Private Advisor Group LLC bought a new stake in MGIC Investment in the first quarter worth about $238,000. Lindbrook Capital LLC lifted its holdings in MGIC Investment by 2,387.7% in the 1st quarter. Lindbrook Capital LLC now owns 7,065 shares of the insurance provider’s stock valued at $175,000 after acquiring an additional 6,781 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in MGIC Investment in the 1st quarter valued at about $958,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH boosted its position in shares of MGIC Investment by 12.1% during the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 470,527 shares of the insurance provider’s stock valued at $11,660,000 after purchasing an additional 50,938 shares in the last quarter. 95.58% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MTG has been the topic of a number of research reports. Barclays boosted their target price on shares of MGIC Investment from $27.00 to $28.00 and gave the stock a “cautious” rating in a report on Monday, October 6th. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of MGIC Investment in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $26.80.

MGIC Investment Stock Performance

MGIC Investment stock opened at $27.83 on Wednesday. MGIC Investment Corporation has a fifty-two week low of $21.94 and a fifty-two week high of $29.01. The firm’s 50 day simple moving average is $27.73 and its 200-day simple moving average is $27.13. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.46 and a quick ratio of 1.46. The company has a market cap of $6.23 billion, a P/E ratio of 8.95, a price-to-earnings-growth ratio of 1.91 and a beta of 0.92.

MGIC Investment (NYSE:MTG) last announced its quarterly earnings data on Wednesday, October 29th. The insurance provider reported $0.83 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $304.51 million during the quarter, compared to the consensus estimate of $308.16 million. During the same period in the prior year, the business earned $0.77 EPS. The business’s revenue for the quarter was down .7% on a year-over-year basis. As a group, equities research analysts predict that MGIC Investment Corporation will post 2.71 EPS for the current year.

MGIC Investment Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Thursday, November 6th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Thursday, November 6th. MGIC Investment’s dividend payout ratio (DPR) is currently 19.29%.

Insider Activity at MGIC Investment

In other MGIC Investment news, COO Salvatore A. Miosi sold 30,000 shares of the business’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $27.52, for a total value of $825,600.00. Following the transaction, the chief operating officer 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. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Paula C. Maggio sold 20,000 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president directly owned 117,395 shares in the company, valued at approximately $3,221,318.80. The trade was a 14.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 219,203 shares of company stock valued at $5,989,909. Insiders own 1.05% 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.