Moody Aldrich Partners LLC Takes $4.65 Million Position in MGIC Investment Corporation $MTG

Moody Aldrich Partners LLC purchased a new position in shares of MGIC Investment Corporation (NYSE:MTG) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 163,841 shares of the insurance provider’s stock, valued at approximately $4,648,000.

A number of other large investors also recently added to or reduced their stakes in the business. FCG Investment Co bought a new stake in MGIC Investment during the 2nd quarter valued at $846,000. Sequoia Financial Advisors LLC purchased a new stake in MGIC Investment during the 2nd quarter valued at $568,000. North Star Asset Management Inc. bought a new stake in MGIC Investment in the 2nd quarter worth approximately $375,000. WINTON GROUP Ltd purchased a new stake in MGIC Investment during the second quarter valued at approximately $6,797,000. Finally, Capital Fund Management S.A. raised its stake in shares of MGIC Investment by 27.1% in the second quarter. Capital Fund Management S.A. now owns 221,154 shares of the insurance provider’s stock worth $6,157,000 after buying an additional 47,189 shares during the period. Hedge funds and other institutional investors own 95.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on MTG. Keefe, Bruyette & Woods increased their price objective on shares of MGIC Investment from $27.00 to $28.00 and gave the company a “market perform” rating in a research report on Thursday, December 18th. Barclays increased their price objective on shares of MGIC Investment from $27.00 to $28.00 and gave the company a “cautious” rating in a report on Monday, October 6th. Finally, Weiss Ratings reiterated a “buy (a-)” rating on shares of MGIC Investment in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $27.50.

MGIC Investment Trading Down 1.3%

Shares of MGIC Investment stock opened at $29.21 on Thursday. The stock has a market cap of $6.54 billion, a PE ratio of 9.39, a price-to-earnings-growth ratio of 1.65 and a beta of 0.85. MGIC Investment Corporation has a 12-month low of $21.94 and a 12-month high of $29.97. The company has a 50-day moving average of $28.40 and a two-hundred day moving average of $27.67. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.12.

MGIC Investment (NYSE:MTG) last posted its quarterly earnings data on Wednesday, October 29th. The insurance provider reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.11. The business had revenue of $304.51 million for the quarter, compared to analyst estimates of $308.16 million. MGIC Investment had a return on equity of 14.62% and a net margin of 61.96%.The business’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter last year, the company earned $0.77 earnings per share. On average, research analysts anticipate that MGIC Investment Corporation will post 2.71 EPS for the current fiscal year.

MGIC Investment Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 20th. Investors of record on Thursday, November 6th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Thursday, November 6th. This represents a $0.60 annualized dividend and a yield of 2.1%. MGIC Investment’s payout ratio is 19.29%.

Insider Activity

In other news, COO Salvatore A. Miosi sold 30,000 shares of MGIC Investment stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $27.52, for a total value of $825,600.00. Following the completion of the transaction, the chief operating officer owned 159,401 shares in the company, valued at approximately $4,386,715.52. This trade represents a 15.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Paula C. Maggio sold 20,000 shares of the stock in a transaction on Friday, October 31st. The stock was sold at an average price of $27.44, for a total transaction of $548,800.00. Following the sale, the executive vice president directly owned 117,395 shares in the company, valued at $3,221,318.80. This trade represents a 14.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 189,203 shares of company stock worth $5,145,409. 1.05% of the stock is currently owned by company insiders.

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.