Baer Investment Advisory LLC Purchases Shares of 46,861 MGIC Investment Corporation $MTG

Baer Investment Advisory LLC purchased a new position in shares of MGIC Investment Corporation (NYSE:MTG) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 46,861 shares of the insurance provider’s stock, valued at approximately $1,230,000.

Other institutional investors also recently made changes to their positions in the company. Newbridge Financial Services Group Inc. purchased a new position in MGIC Investment in the 3rd quarter worth $28,000. V Square Quantitative Management LLC bought a new stake in MGIC Investment in the fourth quarter worth $36,000. SBI Securities Co. Ltd. boosted its position in MGIC Investment by 40.3% during the fourth quarter. SBI Securities Co. Ltd. now owns 1,461 shares of the insurance provider’s stock valued at $43,000 after buying an additional 420 shares during the period. Geneos Wealth Management Inc. boosted its position in MGIC Investment by 88.0% during the first quarter. Geneos Wealth Management Inc. now owns 1,745 shares of the insurance provider’s stock valued at $43,000 after buying an additional 817 shares during the period. Finally, Kestra Advisory Services LLC bought a new position in shares of MGIC Investment during the fourth quarter valued at about $79,000. Hedge funds and other institutional investors own 95.58% of the company’s stock.

Insider Buying and Selling at MGIC Investment

In other news, COO Salvatore A. Miosi sold 30,000 shares of the company’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $25.38, for a total value of $761,400.00. Following the sale, the chief operating officer directly owned 560,951 shares of the company’s stock, valued at $14,236,936.38. This represents a 5.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Paula C. Maggio sold 20,937 shares of the stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $25.55, for a total transaction of $534,940.35. Following the completion of the transaction, the executive vice president owned 169,620 shares of the company’s stock, valued at approximately $4,333,791. The trade was a 10.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.34% of the company’s stock.

Analyst Upgrades and Downgrades

MTG has been the topic of several analyst reports. Barclays decreased their price objective on MGIC Investment from $29.00 to $28.00 and set an “equal weight” rating on the stock in a report on Friday, May 1st. UBS Group dropped their target price on MGIC Investment from $29.50 to $28.00 and set a “neutral” rating for the company in a report on Thursday, March 12th. Weiss Ratings restated a “buy (b)” rating on shares of MGIC Investment in a research report on Monday, June 15th. Keefe, Bruyette & Woods lifted their price target on MGIC Investment from $28.00 to $29.00 and gave the stock a “market perform” rating in a research note on Friday, April 10th. Finally, Royal Bank Of Canada assumed coverage on MGIC Investment in a research report on Friday, May 22nd. They issued a “sector perform” rating and a $28.00 price objective for the company. One investment analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $28.25.

MGIC Investment Stock Down 0.1%

MTG stock opened at $28.20 on Friday. MGIC Investment Corporation has a fifty-two week low of $24.69 and a fifty-two week high of $29.97. The business’s 50 day moving average price is $26.53 and its two-hundred day moving average price is $27.00. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.14 and a current ratio of 1.14. The company has a market capitalization of $5.97 billion, a price-to-earnings ratio of 8.95, a price-to-earnings-growth ratio of 1.95 and a beta of 0.67.

MGIC Investment (NYSE:MTG) last released its earnings results on Wednesday, April 29th. The insurance provider reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.03. MGIC Investment had a return on equity of 14.01% and a net margin of 59.63%.The company had revenue of $297.08 million during the quarter, compared to analysts’ expectations of $303.12 million. During the same quarter last year, the business posted $0.75 EPS. The firm’s revenue for the quarter was down 3.0% compared to the same quarter last year. As a group, analysts forecast that MGIC Investment Corporation will post 3.05 earnings per share for the current fiscal year.

MGIC Investment announced that its Board of Directors has authorized a share buyback program on Thursday, April 23rd that allows the company to repurchase $750.00 million in outstanding shares. This repurchase authorization allows the insurance provider to buy up to 12.4% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its shares are undervalued.

MGIC Investment Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Wednesday, May 6th were issued a $0.15 dividend. The ex-dividend date was Wednesday, May 6th. This represents a $0.60 dividend on an annualized basis and a yield of 2.1%. MGIC Investment’s dividend payout ratio is 19.05%.

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.