Vise Technologies Inc. Makes New Investment in MGIC Investment Corporation $MTG

Vise Technologies Inc. purchased a new stake in MGIC Investment Corporation (NYSE:MTG) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 68,765 shares of the insurance provider’s stock, valued at approximately $1,939,000.

Other institutional investors have also modified their holdings of the company. Newbridge Financial Services Group Inc. acquired a new position in MGIC Investment during the 3rd quarter worth $28,000. SBI Securities Co. Ltd. raised its position in MGIC Investment by 40.3% in the 4th quarter. SBI Securities Co. Ltd. now owns 1,461 shares of the insurance provider’s stock valued at $43,000 after purchasing an additional 420 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in shares of MGIC Investment by 88.0% in the 1st 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. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of MGIC Investment in the 2nd quarter valued at about $62,000. Finally, Harbor Investment Advisory LLC grew its position in shares of MGIC Investment by 613.0% during the second quarter. Harbor Investment Advisory LLC now owns 2,574 shares of the insurance provider’s stock worth $73,000 after buying an additional 2,213 shares in the last quarter. Institutional investors and hedge funds own 95.58% of the company’s stock.

MGIC Investment Trading Up 0.5%

MTG opened at $30.85 on Friday. MGIC Investment Corporation has a one year low of $24.69 and a one year high of $31.89. The company has a market cap of $6.33 billion, a P/E ratio of 9.64, a PEG ratio of 0.78 and a beta of 0.66. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.19 and a current ratio of 1.19. The business’s 50-day simple moving average is $29.00 and its 200-day simple moving average is $27.40.

MGIC Investment (NYSE:MTG) last issued its earnings results on Wednesday, July 29th. The insurance provider reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.11. The business had revenue of $295.39 million for the quarter, compared to analyst estimates of $297.54 million. MGIC Investment had a return on equity of 13.90% and a net margin of 59.20%.The business’s quarterly revenue was down 2.9% on a year-over-year basis. During the same quarter last year, the company earned $0.82 EPS. As a group, equities research analysts expect that MGIC Investment Corporation will post 3.24 EPS for the current fiscal year.

MGIC Investment Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Wednesday, August 5th were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Wednesday, August 5th. This is an increase from MGIC Investment’s previous quarterly dividend of $0.15. This represents a $0.68 dividend on an annualized basis and a yield of 2.2%. MGIC Investment’s dividend payout ratio is 21.25%.

Insider Buying and Selling

In related news, EVP Paula C. Maggio sold 20,000 shares of the stock in a transaction on Friday, August 7th. The shares were sold at an average price of $30.30, for a total value of $606,000.00. Following the transaction, the executive vice president directly owned 149,620 shares of the company’s stock, valued at $4,533,486. This trade represents a 11.79% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Salvatore A. Miosi sold 30,000 shares of the stock in a transaction on Monday, June 8th. The shares were sold at an average price of $25.38, for a total transaction of $761,400.00. Following the completion of the transaction, the chief operating officer directly owned 560,951 shares in the company, valued at $14,236,936.38. This trade represents a 5.08% 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. In the last three months, insiders have sold 70,937 shares of company stock worth $1,902,340. 1.34% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Royal Bank Of Canada upped their target price on shares of MGIC Investment from $28.00 to $32.00 and gave the stock a “sector perform” rating in a research note on Friday, July 31st. Weiss Ratings upgraded shares of MGIC Investment from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday. Barclays lowered their price target on shares of MGIC Investment from $29.00 to $28.00 and set an “equal weight” rating for the company in a report on Friday, May 1st. Keefe, Bruyette & Woods increased their price objective on shares of MGIC Investment from $29.00 to $30.00 and gave the company a “market perform” rating in a research report on Friday, July 31st. Finally, Roth Capital restated a “buy” rating and issued a $35.00 price objective on shares of MGIC Investment in a report on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, MGIC Investment has an average rating of “Moderate Buy” and a consensus price target of $30.60.

MGIC Investment Profile

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.