Childress Capital Advisors LLC Buys 31,859 Shares of MGIC Investment Corporation $MTG

Childress Capital Advisors LLC lifted its position in shares of MGIC Investment Corporation (NYSE:MTG) by 361.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 40,671 shares of the insurance provider’s stock after acquiring an additional 31,859 shares during the period. Childress Capital Advisors LLC’s holdings in MGIC Investment were worth $1,188,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Alpine Bank Wealth Management bought a new stake in shares of MGIC Investment during the 3rd quarter worth approximately $28,000. Newbridge Financial Services Group Inc. bought a new stake in shares of MGIC Investment during the 3rd quarter worth approximately $28,000. SBI Securities Co. Ltd. lifted its holdings in shares of MGIC Investment by 61.1% during the 3rd quarter. SBI Securities Co. Ltd. now owns 1,041 shares of the insurance provider’s stock worth $30,000 after acquiring an additional 395 shares during the period. V Square Quantitative Management LLC bought a new stake in shares of MGIC Investment during the 4th quarter worth approximately $36,000. Finally, Root Financial Partners LLC bought a new stake in shares of MGIC Investment during the 3rd quarter worth approximately $38,000. Institutional investors own 95.58% of the company’s stock.

Wall Street Analyst Weigh In

MTG has been the subject of a number of recent analyst reports. Barclays upped their price target on shares of MGIC Investment from $28.00 to $29.00 and gave the stock an “equal weight” rating in a report on Monday, April 6th. UBS Group dropped their price objective on shares of MGIC Investment from $29.50 to $28.00 and set a “neutral” rating for the company in a research note on Thursday, March 12th. Keefe, Bruyette & Woods increased their price objective on shares of MGIC Investment from $28.00 to $29.00 and gave the company a “market perform” rating in a research note on Friday, April 10th. Finally, Weiss Ratings cut shares of MGIC Investment from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Thursday, February 5th. One analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $28.50.

Insider Buying and Selling

In related news, CEO Timothy J. Mattke sold 139,202 shares of the stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $26.49, for a total transaction of $3,687,460.98. Following the transaction, the chief executive officer directly owned 1,118,005 shares of the company’s stock, valued at $29,615,952.45. This represents a 11.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Paula C. Maggio sold 20,000 shares of the stock in a transaction on Friday, February 6th. The stock was sold at an average price of $27.51, for a total transaction of $550,200.00. Following the transaction, the executive vice president directly owned 114,689 shares in the company, valued at approximately $3,155,094.39. This represents a 14.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 200,133 shares of company stock valued at $5,342,700 over the last ninety days. 1.34% of the stock is owned by corporate insiders.

MGIC Investment Trading Down 0.3%

MTG opened at $27.19 on Thursday. The stock has a market cap of $5.84 billion, a PE ratio of 8.66, a price-to-earnings-growth ratio of 2.17 and a beta of 0.79. MGIC Investment Corporation has a twelve month low of $23.24 and a twelve month high of $29.97. The company has a fifty day moving average of $26.57 and a 200-day moving average of $27.43. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.13.

MGIC Investment (NYSE:MTG) last issued its earnings results on Monday, February 2nd. The insurance provider reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.02. MGIC Investment had a net margin of 60.84% and a return on equity of 14.33%. The business’s revenue was down .9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.72 EPS. On average, sell-side analysts predict that MGIC Investment Corporation will post 2.71 EPS for the current year.

MGIC Investment Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 6th. Investors of record on Tuesday, February 17th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, February 17th. This represents a $0.60 annualized dividend and a yield of 2.2%. MGIC Investment’s dividend payout ratio is currently 19.11%.

About MGIC Investment

MGIC Investment Corporation (NYSE: MTG) is a leading provider of private mortgage insurance in the United States. Established in 1957 as the nation’s first private mortgage insurer, MGIC helps lenders manage credit risk and facilitates homeownership by protecting mortgage loans against default. Headquartered in Milwaukee, Wisconsin, the company operates through its principal subsidiary, Mortgage Guaranty Insurance Corporation, and maintains relationships with a broad network of originators and servicers nationwide.

The company’s primary business activity involves issuing mortgage insurance policies that enable borrowers to purchase homes with down payments below traditional lending thresholds.