MGIC Investment Corporation $MTG Shares Sold by Vest Financial LLC

Vest Financial LLC lessened its holdings in shares of MGIC Investment Corporation (NYSE:MTG) by 63.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 199,977 shares of the insurance provider’s stock after selling 343,256 shares during the quarter. Vest Financial LLC’s holdings in MGIC Investment were worth $5,673,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Seizert Capital Partners LLC increased its stake in MGIC Investment by 261.6% in the third quarter. Seizert Capital Partners LLC now owns 125,714 shares of the insurance provider’s stock valued at $3,567,000 after purchasing an additional 90,948 shares during the last quarter. Inscription Capital LLC purchased a new stake in MGIC Investment in the 3rd quarter valued at about $746,000. Root Financial Partners LLC acquired a new position in shares of MGIC Investment during the 3rd quarter valued at about $38,000. NorthCrest Asset Manangement LLC lifted its holdings in shares of MGIC Investment by 14.4% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 51,936 shares of the insurance provider’s stock worth $1,404,000 after acquiring an additional 6,553 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in shares of MGIC Investment by 0.9% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 1,575,963 shares of the insurance provider’s stock worth $42,614,000 after acquiring an additional 14,697 shares during the period. Hedge funds and other institutional investors own 95.58% of the company’s stock.

Insider Transactions at MGIC Investment

In other MGIC Investment news, COO Salvatore A. Miosi sold 30,000 shares of the company’s 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 transaction, the chief operating officer directly 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Timothy J. Mattke sold 139,203 shares of the stock in a transaction that occurred on Tuesday, January 13th. The shares were sold at an average price of $26.51, for a total value of $3,690,271.53. Following the transaction, the chief executive officer owned 822,588 shares of the company’s stock, valued at approximately $21,806,807.88. This trade represents a 14.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 189,203 shares of company stock valued at $5,064,672. 1.05% of the stock is currently owned by insiders.

MGIC Investment Trading Up 1.3%

NYSE MTG opened at $26.68 on Thursday. The stock has a market cap of $5.97 billion, a P/E ratio of 8.58, a PEG ratio of 1.46 and a beta of 0.84. The company’s fifty day simple moving average is $28.42 and its 200-day simple moving average is $27.68. 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 Corporation has a 52 week low of $21.94 and a 52 week high of $29.97.

MGIC Investment (NYSE:MTG) last released its quarterly earnings results on Wednesday, October 29th. The insurance provider reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.11. MGIC Investment had a net margin of 61.96% and a return on equity of 14.62%. The firm had revenue of $304.51 million for the quarter, compared to the consensus estimate of $308.16 million. During the same quarter in the previous year, the firm posted $0.77 EPS. The firm’s quarterly revenue was down .7% on a year-over-year basis. Equities research analysts predict that MGIC Investment Corporation will post 2.71 EPS for the current fiscal year.

Analyst Ratings Changes

MTG has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of MGIC Investment in a research report on Wednesday, October 8th. Barclays upped their price objective on MGIC Investment from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 6th. Finally, Keefe, Bruyette & Woods lifted their target price on MGIC Investment from $27.00 to $28.00 and gave the company a “market perform” rating in a report on Thursday, December 18th. One investment analyst has rated the stock with a Strong Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, MGIC Investment presently has an average rating of “Hold” and an average target price of $28.00.

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.