WINTON GROUP Ltd Purchases 144,073 Shares of MGIC Investment Corporation $MTG

WINTON GROUP Ltd increased its position in MGIC Investment Corporation (NYSE:MTG) by 317.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 189,475 shares of the insurance provider’s stock after buying an additional 144,073 shares during the period. WINTON GROUP Ltd’s holdings in MGIC Investment were worth $5,343,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in MTG. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of MGIC Investment during the 1st quarter worth approximately $2,397,000. Goldman Sachs Group Inc. grew its holdings in shares of MGIC Investment by 6.7% in the first quarter. Goldman Sachs Group Inc. now owns 3,103,366 shares of the insurance provider’s stock valued at $76,901,000 after purchasing an additional 195,895 shares in the last quarter. Geneos Wealth Management Inc. increased its position in MGIC Investment by 88.0% in the first quarter. Geneos Wealth Management Inc. now owns 1,745 shares of the insurance provider’s stock worth $43,000 after purchasing an additional 817 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in MGIC Investment in the second quarter worth $425,000. Finally, Northwestern Mutual Wealth Management Co. raised its stake in MGIC Investment by 18.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,211 shares of the insurance provider’s stock valued at $145,000 after purchasing an additional 830 shares in the last quarter. Hedge funds and other institutional investors own 95.58% of the company’s stock.

MGIC Investment Price Performance

MGIC Investment stock opened at $30.86 on Friday. MGIC Investment Corporation has a 12-month low of $24.69 and a 12-month high of $31.89. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.13. The firm has a 50-day moving average price of $30.12 and a 200-day moving average price of $27.82. The firm has a market capitalization of $6.33 billion, a PE ratio of 9.65, a price-to-earnings-growth ratio of 0.78 and a beta of 0.65.

MGIC Investment (NYSE:MTG) last posted its quarterly earnings data on Wednesday, July 29th. The insurance provider reported $0.87 earnings per share 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 company had revenue of $295.39 million for the quarter, compared to analyst estimates of $297.54 million. During the same period in the prior year, the company posted $0.82 EPS. The firm’s revenue for the quarter was down 2.9% on a year-over-year basis. As a group, equities research analysts forecast that MGIC Investment Corporation will post 3.24 EPS for the current year.

MGIC Investment Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Wednesday, August 5th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis 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 presently 21.25%.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Weiss Ratings upgraded shares of MGIC Investment from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday, August 19th. Keefe, Bruyette & Woods boosted their target price 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. Royal Bank Of Canada upped their target price on shares of MGIC Investment from $28.00 to $32.00 and gave the company a “sector perform” rating in a research report on Friday, July 31st. Zacks Research raised shares of MGIC Investment from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 25th. Finally, Roth Capital reiterated a “buy” rating and issued a $35.00 price target on shares of MGIC Investment in a research report on Thursday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, MGIC Investment presently has a consensus rating of “Moderate Buy” and an average target price of $30.60.

Insiders Place Their Bets

In other MGIC Investment news, COO Salvatore Miosi sold 30,000 shares of the company’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $30.73, for a total value of $921,900.00. Following the transaction, the chief operating officer owned 470,951 shares of the company’s stock, valued at $14,472,324.23. This represents a 5.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Paula Maggio sold 20,000 shares of the stock in a transaction on Friday, August 7th. The stock was sold at an average price of $30.30, for a total value of $606,000.00. Following the completion of the sale, the executive vice president owned 149,620 shares in the company, valued at approximately $4,533,486. The trade was a 11.79% 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. 1.34% of the stock is owned by insiders.

MGIC Investment Company Profile

MGIC Investment Corporation (NYSE: MTG) is a holding company whose principal subsidiary is Mortgage Guaranty Insurance Corporation (MGIC), a provider of private mortgage insurance in the United States. MGIC’s insurance helps lenders manage the risk associated with residential mortgages made to borrowers who have limited down payments, allowing qualified homebuyers to obtain financing with less than 20% down.

MGIC primarily offers primary mortgage insurance to mortgage lenders, banks, credit unions and other residential lending institutions.