Tudor Investment Corp ET AL Raises Stake in MGIC Investment Corporation $MTG

Tudor Investment Corp ET AL boosted its stake in shares of MGIC Investment Corporation (NYSE:MTG) by 106.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 687,445 shares of the insurance provider’s stock after buying an additional 353,935 shares during the quarter. Tudor Investment Corp ET AL owned approximately 0.31% of MGIC Investment worth $19,503,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in shares of MGIC Investment during the second quarter valued at approximately $95,857,000. AQR Capital Management LLC grew its stake in MGIC Investment by 92.4% in the second quarter. AQR Capital Management LLC now owns 6,333,091 shares of the insurance provider’s stock worth $176,313,000 after purchasing an additional 3,041,446 shares in the last quarter. First Trust Advisors LP increased its holdings in MGIC Investment by 48.1% during the 2nd quarter. First Trust Advisors LP now owns 7,302,263 shares of the insurance provider’s stock worth $203,295,000 after purchasing an additional 2,370,403 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of MGIC Investment by 13.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 18,331,120 shares of the insurance provider’s stock valued at $510,338,000 after acquiring an additional 2,168,940 shares during the period. Finally, Assetmark Inc. raised its position in shares of MGIC Investment by 1,208.1% in the 3rd quarter. Assetmark Inc. now owns 1,674,152 shares of the insurance provider’s stock worth $47,496,000 after acquiring an additional 1,546,173 shares in the last quarter. 95.58% of the stock is owned by hedge funds and other institutional investors.

MGIC Investment Trading Down 1.1%

Shares of NYSE:MTG opened at $25.70 on Friday. The business’s 50-day moving average is $26.54 and its 200 day moving average is $27.64. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.52 and a quick ratio of 1.52. MGIC Investment Corporation has a 1 year low of $21.94 and a 1 year high of $29.97. The firm has a market capitalization of $5.52 billion, a P/E ratio of 8.18, a P/E/G ratio of 2.07 and a beta of 0.83.

MGIC Investment (NYSE:MTG) last issued its quarterly earnings results on Monday, February 2nd. The insurance provider reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.02. MGIC Investment had a return on equity of 14.33% and a net margin of 60.84%.During the same period in the prior year, the firm earned $0.72 earnings per share. The business’s quarterly revenue was down .9% compared to the same quarter last year. On average, research analysts predict that MGIC Investment Corporation will post 2.71 earnings per share for the current fiscal year.

MGIC Investment Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 6th. Shareholders of record on Tuesday, February 17th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Tuesday, February 17th. MGIC Investment’s payout ratio is currently 19.11%.

Insider Buying and Selling at MGIC Investment

In related news, CEO Timothy J. Mattke sold 139,203 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at $21,806,807.88. This represents a 14.47% decrease in their position. The transaction 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 firm’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $27.27, for a total value of $818,100.00. Following the completion of the transaction, the chief operating officer owned 454,245 shares of the company’s stock, valued at $12,387,261.15. This trade represents a 6.20% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 189,203 shares of company stock worth $5,058,572. 1.05% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on MTG. Weiss Ratings downgraded MGIC Investment from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Thursday, February 5th. Barclays decreased their price target on shares of MGIC Investment from $30.00 to $28.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 4th. UBS Group cut their price objective on shares of MGIC Investment from $29.50 to $28.00 and set a “neutral” rating on the stock in a research report on Thursday, March 12th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of MGIC Investment from $27.00 to $28.00 and gave the stock a “market perform” rating in a research note on Thursday, December 18th. One analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $28.00.

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.