Quantbot Technologies LP Takes Position in MGIC Investment Corporation $MTG

Quantbot Technologies LP purchased a new position in shares of MGIC Investment Corporation (NYSE:MTG) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 34,615 shares of the insurance provider’s stock, valued at approximately $976,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. bought a new position in shares of MGIC Investment during the 3rd quarter worth approximately $28,000. SBI Securities Co. Ltd. grew its holdings in shares of MGIC Investment by 40.3% in the fourth quarter. SBI Securities Co. Ltd. now owns 1,461 shares of the insurance provider’s stock valued at $43,000 after acquiring an additional 420 shares in the last quarter. Geneos Wealth Management Inc. increased its position in shares of MGIC Investment by 88.0% during the first quarter. Geneos Wealth Management Inc. now owns 1,745 shares of the insurance provider’s stock valued at $43,000 after acquiring an additional 817 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of MGIC Investment during the second quarter valued at approximately $62,000. Finally, Harbor Investment Advisory LLC grew its stake in MGIC Investment by 613.0% in the 2nd quarter. Harbor Investment Advisory LLC now owns 2,574 shares of the insurance provider’s stock valued at $73,000 after purchasing an additional 2,213 shares during the period. 95.58% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

MTG has been the topic of a number of research analyst reports. Royal Bank Of Canada boosted their price target on shares of MGIC Investment from $28.00 to $32.00 and gave the stock a “sector perform” rating in a report on Friday, July 31st. Keefe, Bruyette & Woods raised their price objective on shares of MGIC Investment from $29.00 to $30.00 and gave the stock a “market perform” rating in a report on Friday, July 31st. Weiss Ratings raised shares of MGIC Investment from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday, August 19th. Barclays dropped their target price on shares of MGIC Investment from $29.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Friday, May 1st. Finally, Roth Capital restated a “buy” rating and set a $35.00 price target on shares of MGIC Investment in a research note on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, MGIC Investment has a consensus rating of “Moderate Buy” and a consensus target price of $30.60.

MGIC Investment Stock Up 0.1%

Shares of NYSE:MTG opened at $31.27 on Thursday. The firm has a fifty day moving average price of $29.31 and a two-hundred day moving average price of $27.50. The company has a market cap of $6.41 billion, a price-to-earnings ratio of 9.77, a PEG ratio of 0.79 and a beta of 0.66. 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 one year low of $24.69 and a one year high of $31.89.

MGIC Investment (NYSE:MTG) last issued its quarterly earnings data on Wednesday, July 29th. The insurance provider reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.11. MGIC Investment had a return on equity of 13.90% and a net margin of 59.20%.The company had revenue of $295.39 million for the quarter, compared to the consensus estimate of $297.54 million. During the same quarter last year, the business posted $0.82 earnings per share. The firm’s revenue was down 2.9% compared to the same quarter last year. Analysts anticipate that MGIC Investment Corporation will post 3.24 EPS for the current fiscal year.

MGIC Investment Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Wednesday, August 5th were given a dividend of $0.17 per share. The ex-dividend date was Wednesday, August 5th. This is an increase from MGIC Investment’s previous quarterly dividend of $0.15. This represents a $0.68 dividend on an annualized basis and a yield of 2.2%. MGIC Investment’s dividend payout ratio (DPR) is 21.25%.

Insider Buying and Selling

In other news, EVP Paula C. 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 value of $606,000.00. Following the transaction, the executive vice president owned 149,620 shares in the company, 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Salvatore A. Miosi sold 30,000 shares of the firm’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $25.38, for a total transaction of $761,400.00. Following the completion of the sale, the chief operating officer directly owned 560,951 shares in the company, valued at approximately $14,236,936.38. This trade represents a 5.08% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 70,937 shares of company stock valued at $1,902,340. Insiders own 1.34% of the company’s stock.

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.