MGIC Investment Corporation to Issue Quarterly Dividend of $0.15 (NYSE:MTG)

MGIC Investment Corporation (NYSE:MTG) announced a quarterly dividend on Tuesday, January 27th. Investors of record on Tuesday, February 17th will be given a dividend of 0.15 per share by the insurance provider on Friday, March 6th. This represents a c) annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Tuesday, February 17th.

MGIC Investment has raised its dividend by an average of 0.3%annually over the last three years and has increased its dividend every year for the last 6 years. MGIC Investment has a dividend payout ratio of 19.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect MGIC Investment to earn $2.81 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 21.4%.

MGIC Investment Stock Performance

NYSE:MTG traded down $0.06 during mid-day trading on Wednesday, reaching $26.44. The company’s stock had a trading volume of 769,147 shares, compared to its average volume of 2,252,138. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.12. The firm’s fifty day moving average price is $28.31 and its two-hundred day moving average price is $27.69. MGIC Investment has a 12-month low of $21.94 and a 12-month high of $29.97. The stock has a market cap of $5.91 billion, a P/E ratio of 8.50, a PEG ratio of 1.47 and a beta of 0.84.

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

Insider Buying and Selling at MGIC Investment

In other news, CEO Timothy J. Mattke sold 139,203 shares of the business’s stock in a transaction dated Tuesday, January 13th. The stock was sold at an average price of $26.51, for a total value of $3,690,271.53. Following the transaction, the chief executive officer directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Salvatore A. Miosi sold 30,000 shares of the stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $27.52, for a total value of $825,600.00. Following the sale, the chief operating officer owned 159,401 shares of the company’s stock, valued at $4,386,715.52. This represents a 15.84% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 189,203 shares of company stock valued at $5,064,672 over the last 90 days. 1.41% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On MGIC Investment

Hedge funds have recently modified their holdings of the stock. Caprock Group LLC grew its stake in MGIC Investment by 86.7% during the fourth quarter. Caprock Group LLC now owns 97,651 shares of the insurance provider’s stock valued at $2,853,000 after acquiring an additional 45,335 shares in the last quarter. M&T Bank Corp purchased a new position in shares of MGIC Investment during the fourth quarter valued at about $574,000. Universal Beteiligungs und Servicegesellschaft mbH grew its position in shares of MGIC Investment by 10.9% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 737,489 shares of the insurance provider’s stock valued at $21,564,000 after purchasing an additional 72,654 shares in the last quarter. Evergreen Capital Management LLC lifted its position in shares of MGIC Investment by 6.5% in the fourth quarter. Evergreen Capital Management LLC now owns 25,880 shares of the insurance provider’s stock worth $756,000 after buying an additional 1,576 shares in the last quarter. Finally, Lecap Asset Management Ltd. purchased a new stake in shares of MGIC Investment in the fourth quarter worth about $713,000. Hedge funds and other institutional investors own 95.58% of the company’s stock.

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.