Seizert Capital Partners LLC Has $3.57 Million Stock Position in MGIC Investment Corporation $MTG

Seizert Capital Partners LLC grew its stake in MGIC Investment Corporation (NYSE:MTG) by 261.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 125,714 shares of the insurance provider’s stock after buying an additional 90,948 shares during the quarter. Seizert Capital Partners LLC’s holdings in MGIC Investment were worth $3,567,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Alpine Bank Wealth Management acquired a new position in MGIC Investment in the 3rd quarter worth $28,000. True Wealth Design LLC lifted its holdings in shares of MGIC Investment by 262.5% in the second quarter. True Wealth Design LLC now owns 1,004 shares of the insurance provider’s stock valued at $28,000 after purchasing an additional 727 shares in the last quarter. Hantz Financial Services Inc. boosted its position in shares of MGIC Investment by 3,067.6% during the second quarter. Hantz Financial Services Inc. now owns 1,077 shares of the insurance provider’s stock worth $30,000 after buying an additional 1,043 shares during the period. Employees Retirement System of Texas bought a new position in shares of MGIC Investment during the second quarter worth about $32,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of MGIC Investment by 118.0% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,308 shares of the insurance provider’s stock worth $36,000 after buying an additional 708 shares in the last quarter. 95.58% of the stock is currently owned by institutional investors and hedge funds.

MGIC Investment Stock Performance

Shares of NYSE MTG opened at $26.23 on Tuesday. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.48 and a quick ratio of 1.48. The firm has a market cap of $5.87 billion, a price-to-earnings ratio of 8.42, a P/E/G ratio of 1.47 and a beta of 0.84. The stock’s fifty day moving average price is $28.50 and its two-hundred day moving average price is $27.70. MGIC Investment Corporation has a one year low of $21.94 and a one year high of $29.97.

MGIC Investment (NYSE:MTG) last posted its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $308.16 million. MGIC Investment had a return on equity of 14.62% and a net margin of 61.96%.MGIC Investment’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.77 earnings per share. On average, equities analysts forecast that MGIC Investment Corporation will post 2.71 EPS for the current year.

MGIC Investment Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Thursday, November 6th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Thursday, November 6th. MGIC Investment’s dividend payout ratio is presently 19.29%.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Keefe, Bruyette & Woods boosted their target price on MGIC Investment from $27.00 to $28.00 and gave the company a “market perform” rating in a research note on Thursday, December 18th. Barclays boosted their price objective on shares of MGIC Investment from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 6th. Finally, Weiss Ratings reaffirmed a “buy (a-)” rating on shares of MGIC Investment in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $28.00.

Insider Buying and Selling

In related 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 sale, the chief operating officer directly owned 159,401 shares in the company, valued at $4,386,715.52. This represents a 15.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Timothy J. Mattke sold 139,203 shares of the stock in a transaction on Tuesday, January 13th. The stock was sold at an average price of $26.51, for a total transaction of $3,690,271.53. Following the sale, 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. Insiders have sold 189,203 shares of company stock worth $5,064,672 in the last 90 days. Insiders own 1.41% of the company’s stock.

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.