EagleClaw Capital Managment LLC Buys 24,000 Shares of MGIC Investment Corporation $MTG

EagleClaw Capital Managment LLC boosted its stake in MGIC Investment Corporation (NYSE:MTG) by 36.5% in the third quarter, HoldingsChannel reports. The institutional investor owned 89,800 shares of the insurance provider’s stock after buying an additional 24,000 shares during the quarter. EagleClaw Capital Managment LLC’s holdings in MGIC Investment were worth $2,548,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. JPMorgan Chase & Co. boosted its holdings in MGIC Investment by 13.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 18,331,120 shares of the insurance provider’s stock worth $510,338,000 after acquiring an additional 2,168,940 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of MGIC Investment by 39.7% in the third quarter. AQR Capital Management LLC now owns 8,844,749 shares of the insurance provider’s stock valued at $250,926,000 after purchasing an additional 2,511,658 shares during the last quarter. First Trust Advisors LP lifted its position in shares of MGIC Investment by 48.1% during the second quarter. First Trust Advisors LP now owns 7,302,263 shares of the insurance provider’s stock valued at $203,295,000 after purchasing an additional 2,370,403 shares in the last quarter. Caisse de depot et placement du Quebec boosted its holdings in MGIC Investment by 20.4% during the third quarter. Caisse de depot et placement du Quebec now owns 3,943,965 shares of the insurance provider’s stock worth $111,890,000 after purchasing an additional 667,876 shares during the last quarter. Finally, Norges Bank purchased a new position in MGIC Investment during the second quarter worth about $95,857,000. 95.58% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related 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 sale, the chief executive officer directly owned 822,588 shares in the company, valued at approximately $21,806,807.88. The trade was a 14.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Paula C. Maggio sold 20,000 shares of the company’s stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $27.51, for a total transaction of $550,200.00. Following the sale, the executive vice president directly owned 114,689 shares in the company, valued at approximately $3,155,094.39. This trade represents a 14.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 189,203 shares of company stock valued at $5,058,572. 1.05% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on MTG. Keefe, Bruyette & Woods increased their price objective on shares of MGIC Investment from $27.00 to $28.00 and gave the company a “market perform” rating in a research note on Thursday, December 18th. UBS Group reduced their target price on MGIC Investment from $29.50 to $28.00 and set a “neutral” rating for the company in a report on Thursday. Weiss Ratings lowered MGIC Investment from a “buy (a-)” rating to a “buy (b+)” rating in a report on Thursday, February 5th. Finally, Barclays cut their price objective on MGIC Investment from $30.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 4th. One analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $28.00.

MGIC Investment Price Performance

MGIC Investment stock opened at $26.01 on Friday. The business’s 50 day simple moving average is $26.85 and its 200 day simple moving average is $27.71. MGIC Investment Corporation has a 12 month low of $21.94 and a 12 month high of $29.97. The company has a market cap of $5.59 billion, a price-to-earnings ratio of 8.28, a PEG ratio of 2.07 and a beta of 0.83. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.13.

MGIC Investment (NYSE:MTG) last released its earnings results on Monday, February 2nd. The insurance provider reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.02. MGIC Investment had a return on equity of 14.33% and a net margin of 60.84%.The firm’s revenue for the quarter was down .9% on a year-over-year basis. During the same period in the prior year, the company earned $0.72 earnings per share. Sell-side analysts forecast that MGIC Investment Corporation will post 2.71 EPS for the current year.

MGIC Investment Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 6th. Investors of record on Tuesday, February 17th were issued a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, February 17th. This represents a $0.60 annualized dividend and a yield of 2.3%. MGIC Investment’s dividend payout ratio (DPR) is 19.11%.

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.