Oak Thistle LLC Invests $2.60 Million in MGIC Investment Corporation $MTG

Oak Thistle LLC bought a new position in MGIC Investment Corporation (NYSE:MTG) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 88,792 shares of the insurance provider’s stock, valued at approximately $2,595,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Daytona Street Capital LLC purchased a new position in MGIC Investment during the fourth quarter valued at approximately $292,000. Aaron Wealth Advisors LLC grew its position in MGIC Investment by 76.4% during the fourth quarter. Aaron Wealth Advisors LLC now owns 44,726 shares of the insurance provider’s stock valued at $1,307,000 after purchasing an additional 19,374 shares in the last quarter. Savvy Advisors Inc. purchased a new position in MGIC Investment during the fourth quarter valued at approximately $224,000. Perigon Wealth Management LLC grew its position in MGIC Investment by 36.1% during the fourth quarter. Perigon Wealth Management LLC now owns 9,750 shares of the insurance provider’s stock valued at $285,000 after purchasing an additional 2,587 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in MGIC Investment by 114.9% during the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 21,043 shares of the insurance provider’s stock valued at $615,000 after purchasing an additional 11,251 shares in the last quarter. 95.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on MTG shares. Weiss Ratings cut shares of MGIC Investment from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Thursday, February 5th. Barclays lifted their target price on shares of MGIC Investment from $28.00 to $29.00 and gave the company an “equal weight” rating in a research note on Monday. Keefe, Bruyette & Woods lifted their target price 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. Finally, UBS Group reduced their target price on shares of MGIC Investment from $29.50 to $28.00 and set a “neutral” rating for the company in a research note on Thursday, March 12th. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, MGIC Investment has a consensus rating of “Hold” and a consensus target price of $28.25.

Insider Activity 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 shares were sold at an average price of $26.51, for a total transaction of $3,690,271.53. Following the completion of the transaction, the chief executive officer directly owned 822,588 shares in the company, valued at $21,806,807.88. This represents a 14.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Paula C. Maggio sold 20,000 shares of the company’s stock in a transaction on Friday, February 6th. The shares were sold at an average price of $27.51, for a total transaction of $550,200.00. Following the transaction, the executive vice president owned 114,689 shares of the company’s stock, valued at approximately $3,155,094.39. The trade was a 14.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 339,336 shares of company stock worth $9,032,971 in the last ninety days. 1.05% of the stock is currently owned by insiders.

MGIC Investment Price Performance

Shares of MGIC Investment stock opened at $27.03 on Wednesday. The firm has a fifty day simple moving average of $26.49 and a 200-day simple moving average of $27.47. 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 Corporation has a 1-year low of $21.94 and a 1-year high of $29.97. The stock has a market capitalization of $5.81 billion, a price-to-earnings ratio of 8.61, a PEG ratio of 2.11 and a beta of 0.79.

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

MGIC Investment Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 6th. Stockholders of record on Tuesday, February 17th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date was Tuesday, February 17th. MGIC Investment’s payout ratio is presently 19.11%.

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.