Vise Technologies Inc. Acquires 68,275 Shares of MGIC Investment Corporation $MTG

Vise Technologies Inc. raised its holdings in shares of MGIC Investment Corporation (NYSE:MTG) by 99.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 137,040 shares of the insurance provider’s stock after acquiring an additional 68,275 shares during the quarter. Vise Technologies Inc.’s holdings in MGIC Investment were worth $3,541,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Baird Financial Group Inc. lifted its position in shares of MGIC Investment by 3.1% in the second quarter. Baird Financial Group Inc. now owns 13,092 shares of the insurance provider’s stock worth $369,000 after purchasing an additional 392 shares in the last quarter. Compound Planning Inc. boosted its holdings in shares of MGIC Investment by 4.3% during the first quarter. Compound Planning Inc. now owns 10,392 shares of the insurance provider’s stock worth $273,000 after purchasing an additional 433 shares during the period. Oregon Public Employees Retirement Fund boosted its holdings in shares of MGIC Investment by 1.1% during the first quarter. Oregon Public Employees Retirement Fund now owns 44,972 shares of the insurance provider’s stock worth $1,181,000 after purchasing an additional 481 shares during the period. Versant Capital Management Inc boosted its holdings in shares of MGIC Investment by 9.4% during the third quarter. Versant Capital Management Inc now owns 5,917 shares of the insurance provider’s stock worth $153,000 after purchasing an additional 508 shares during the period. Finally, Lido Advisors LLC grew its position in MGIC Investment by 2.4% during the first quarter. Lido Advisors LLC now owns 24,373 shares of the insurance provider’s stock valued at $640,000 after purchasing an additional 574 shares in the last quarter. Institutional investors and hedge funds own 95.58% of the company’s stock.

MGIC Investment Stock Down 1.0%

MTG opened at $28.65 on Wednesday. The company has a market capitalization of $5.88 billion, a PE ratio of 9.02, a price-to-earnings-growth ratio of 1.03 and a beta of 0.64. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.19 and a quick ratio of 1.19. MGIC Investment Corporation has a fifty-two week low of $24.69 and a fifty-two week high of $31.89. The business has a 50-day moving average of $28.94 and a 200-day moving average of $27.77.

MGIC Investment Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 23rd. Investors of record on Thursday, November 12th will be issued a $0.17 dividend. The ex-dividend date is Thursday, November 12th. This represents a $0.68 dividend on an annualized basis and a yield of 2.4%. MGIC Investment’s dividend payout ratio is currently 21.25%.

Insider Activity at MGIC Investment

In related news, EVP Paula Maggio sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $30.30, for a total transaction of $606,000.00. Following the transaction, the executive vice president owned 149,620 shares of the company’s stock, valued at approximately $4,533,486. This trade represents a 11.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Salvatore Miosi sold 30,000 shares of MGIC Investment stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $26.06, for a total transaction of $781,800.00. Following the completion of the sale, the chief operating officer owned 440,951 shares of the company’s stock, valued at $11,491,183.06. This trade represents a 6.37% 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. Over the last quarter, insiders have sold 217,114 shares of company stock valued at $5,906,200. 1.34% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on MTG shares. Zacks Research lowered shares of MGIC Investment from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 19th. BTIG Research initiated coverage on shares of MGIC Investment in a research report on Tuesday, September 22nd. They issued a “hold” rating for the company. Royal Bank Of Canada lifted their target price on shares of MGIC Investment from $28.00 to $32.00 and gave the company a “sector perform” rating in a research note on Friday, July 31st. Keefe, Bruyette & Woods lifted their target price on shares of MGIC Investment from $29.00 to $30.00 and gave the company a “market perform” rating in a research note on Friday, July 31st. Finally, Barclays boosted their price target on shares of MGIC Investment from $28.00 to $29.00 and gave the company an “equal weight” rating in a report on Monday, October 5th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, MGIC Investment presently has an average rating of “Hold” and a consensus target price of $30.80.

MGIC Investment Company Profile

MGIC Investment Corporation (NYSE:MTG) is a holding company whose principal subsidiary is Mortgage Guaranty Insurance Corporation (MGIC), a provider of private mortgage insurance in the United States. MGIC’s insurance helps protect mortgage lenders and investors against losses when borrowers default, enabling qualified homebuyers to obtain mortgages with smaller down payments.

MGIC primarily offers primary mortgage insurance for residential loans, working with mortgage lenders, banks and other housing-finance institutions.