Odyssean LLC Takes $556,000 Position in MGIC Investment Corporation $MTG

Odyssean LLC bought a new position in MGIC Investment Corporation (NYSE:MTG) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 19,710 shares of the insurance provider’s stock, valued at approximately $556,000.

Other large investors have also recently made changes to their positions in the company. SBI Securities Co. Ltd. grew its holdings in MGIC Investment by 40.3% during the 4th quarter. SBI Securities Co. Ltd. now owns 1,461 shares of the insurance provider’s stock valued at $43,000 after purchasing an additional 420 shares during the last quarter. Compound Planning Inc. lifted its stake in MGIC Investment by 4.3% in the first quarter. Compound Planning Inc. now owns 10,392 shares of the insurance provider’s stock worth $273,000 after purchasing an additional 433 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its position in shares of MGIC Investment by 1.1% during the first quarter. Oregon Public Employees Retirement Fund now owns 44,972 shares of the insurance provider’s stock valued at $1,181,000 after buying an additional 481 shares during the period. Lido Advisors LLC boosted its position in shares of MGIC Investment by 2.2% during the fourth quarter. Lido Advisors LLC now owns 23,799 shares of the insurance provider’s stock valued at $689,000 after buying an additional 522 shares during the period. Finally, Victory Financial Group LLC grew its stake in shares of MGIC Investment by 1.9% during the third quarter. Victory Financial Group LLC now owns 27,994 shares of the insurance provider’s stock valued at $794,000 after buying an additional 535 shares during the last quarter. 95.58% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at MGIC Investment

In other MGIC Investment news, EVP Paula C. Maggio sold 20,937 shares of the company’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $25.55, for a total value of $534,940.35. Following the completion of the sale, the executive vice president directly owned 169,620 shares in the company, valued at approximately $4,333,791. This represents a 10.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 stock in a transaction on Monday, June 8th. The stock was sold at an average price of $25.38, for a total value of $761,400.00. Following the transaction, the chief operating officer directly owned 560,951 shares in the company, valued at $14,236,936.38. The trade was a 5.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 70,937 shares of company stock worth $1,902,340 over the last 90 days. 1.34% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on MTG. Keefe, Bruyette & Woods increased their price target on MGIC Investment from $29.00 to $30.00 and gave the stock a “market perform” rating in a report on Friday, July 31st. Royal Bank Of Canada boosted their price objective on MGIC Investment from $28.00 to $32.00 and gave the company a “sector perform” rating in a report on Friday, July 31st. Roth Capital reaffirmed a “buy” rating and issued a $35.00 price objective on shares of MGIC Investment in a research report on Thursday, July 30th. Weiss Ratings upgraded MGIC Investment from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday, August 19th. Finally, Barclays decreased their target price on MGIC Investment from $29.00 to $28.00 and set an “equal weight” rating for the company in a research report on Friday, May 1st. One 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’s stock. Based on data from MarketBeat, MGIC Investment presently has a consensus rating of “Moderate Buy” and an average target price of $30.60.

MGIC Investment Price Performance

Shares of MTG stock opened at $31.27 on Thursday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.19 and a quick ratio of 1.19. The company has a market capitalization of $6.41 billion, a P/E ratio of 9.77, a P/E/G ratio of 0.79 and a beta of 0.66. The company’s 50-day simple moving average is $29.31 and its two-hundred day simple moving average is $27.50. 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 earnings results on Wednesday, July 29th. The insurance provider reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.11. MGIC Investment had a net margin of 59.20% and a return on equity of 13.90%. The business had revenue of $295.39 million for the quarter, compared to analyst estimates of $297.54 million. During the same period last year, the company posted $0.82 earnings per share. The company’s quarterly revenue was down 2.9% compared to the same quarter last year. As a group, equities analysts anticipate that MGIC Investment Corporation will post 3.24 EPS for the current year.

MGIC Investment Increases Dividend

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

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.