Universal Beteiligungs und Servicegesellschaft mbH Buys 85,909 Shares of MGIC Investment Corporation $MTG

Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in MGIC Investment Corporation (NYSE:MTG) by 14.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 664,835 shares of the insurance provider’s stock after purchasing an additional 85,909 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH owned about 0.29% of MGIC Investment worth $18,861,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of MGIC Investment during the 1st quarter worth about $2,397,000. Goldman Sachs Group Inc. boosted its stake in MGIC Investment by 6.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,103,366 shares of the insurance provider’s stock worth $76,901,000 after acquiring an additional 195,895 shares during the last quarter. Geneos Wealth Management Inc. grew its holdings 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 purchasing an additional 817 shares during the period. Sivia Capital Partners LLC bought a new stake in MGIC Investment in the second quarter valued at approximately $425,000. Finally, Farther Finance Advisors LLC raised its holdings in MGIC Investment by 646.5% in the second quarter. Farther Finance Advisors LLC now owns 7,032 shares of the insurance provider’s stock worth $196,000 after purchasing an additional 6,090 shares during the period. Institutional investors own 95.58% of the company’s stock.

MGIC Investment Price Performance

MTG stock opened at $26.26 on Friday. The stock has a 50-day moving average price of $28.35 and a two-hundred day moving average price of $27.66. MGIC Investment Corporation has a 1 year low of $21.94 and a 1 year high of $29.97. The stock has a market cap of $5.87 billion, a PE ratio of 8.44, a price-to-earnings-growth ratio of 1.49 and a beta of 0.84. 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.11. MGIC Investment had a return on equity of 14.62% and a net margin of 61.96%.The business had revenue of $304.51 million during the quarter, compared to the consensus estimate of $308.16 million. During the same period last year, the company earned $0.77 earnings per share. MGIC Investment’s quarterly revenue was down .7% on a year-over-year basis. Equities analysts forecast that MGIC Investment Corporation will post 2.71 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on MTG. Keefe, Bruyette & Woods boosted their price target on shares of MGIC Investment from $27.00 to $28.00 and gave the company a “market perform” rating in a report on Thursday, December 18th. Weiss Ratings reiterated a “buy (a-)” rating on shares of MGIC Investment in a report on Thursday. Finally, Barclays increased their price target on MGIC Investment from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 6th. One analyst has rated the stock with a Strong Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $28.00.

Insider Transactions at MGIC Investment

In related news, EVP Paula C. Maggio sold 20,000 shares of the firm’s stock in a transaction on Friday, October 31st. The shares were 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 owned 117,395 shares of the company’s stock, valued at approximately $3,221,318.80. This trade represents a 14.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Timothy J. Mattke sold 139,203 shares of MGIC Investment stock in a transaction on Tuesday, January 13th. The shares were sold at an average price of $26.51, for a total transaction of $3,690,271.53. Following the completion of the sale, the chief executive officer owned 822,588 shares in the company, valued at $21,806,807.88. The trade was a 14.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 189,203 shares of company stock valued at $5,064,672 in the last ninety days. 1.05% of the stock is currently owned by corporate insiders.

MGIC Investment Company 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.