Aquatic Capital Management LLC Takes Position in MGIC Investment Co. (NYSE:MTG)

Aquatic Capital Management LLC purchased a new position in MGIC Investment Co. (NYSE:MTG - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 9,901 shares of the insurance provider's stock, valued at approximately $235,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. UMB Bank n.a. boosted its stake in shares of MGIC Investment by 131.9% in the 4th quarter. UMB Bank n.a. now owns 1,649 shares of the insurance provider's stock valued at $39,000 after purchasing an additional 938 shares in the last quarter. Venturi Wealth Management LLC boosted its position in MGIC Investment by 102.1% during the fourth quarter. Venturi Wealth Management LLC now owns 1,817 shares of the insurance provider's stock valued at $43,000 after buying an additional 918 shares during the period. V Square Quantitative Management LLC grew its stake in shares of MGIC Investment by 61.9% during the fourth quarter. V Square Quantitative Management LLC now owns 2,077 shares of the insurance provider's stock valued at $49,000 after buying an additional 794 shares during the last quarter. Physician Wealth Advisors Inc. purchased a new position in shares of MGIC Investment in the fourth quarter worth about $54,000. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of MGIC Investment by 21.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,336 shares of the insurance provider's stock valued at $55,000 after acquiring an additional 419 shares during the last quarter. Hedge funds and other institutional investors own 95.58% of the company's stock.

MGIC Investment Trading Up 0.8 %

MGIC Investment stock traded up $0.20 during mid-day trading on Wednesday, reaching $26.21. 1,492,499 shares of the company traded hands, compared to its average volume of 1,797,225. The firm's 50 day moving average price is $24.03 and its 200 day moving average price is $24.44. MGIC Investment Co. has a 52-week low of $20.11 and a 52-week high of $26.56. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.48 and a quick ratio of 1.25. The firm has a market capitalization of $6.22 billion, a price-to-earnings ratio of 9.04 and a beta of 0.91.

MGIC Investment (NYSE:MTG - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The insurance provider reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.09. The business had revenue of $306.23 million for the quarter, compared to analysts' expectations of $306.66 million. MGIC Investment had a return on equity of 14.86% and a net margin of 63.18%. The business's revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.65 EPS. On average, analysts anticipate that MGIC Investment Co. will post 2.71 earnings per share for the current fiscal year.

MGIC Investment announced that its board has approved a share repurchase program on Thursday, April 24th that authorizes the company to repurchase $750.00 million in outstanding shares. This repurchase authorization authorizes the insurance provider to repurchase up to 12.5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's management believes its stock is undervalued.

MGIC Investment Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 21st. Investors of record on Thursday, May 8th will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.98%. The ex-dividend date is Thursday, May 8th. MGIC Investment's payout ratio is currently 17.28%.

Analysts Set New Price Targets

MTG has been the topic of several recent research reports. Compass Point restated a "neutral" rating and set a $27.00 price target (up from $24.00) on shares of MGIC Investment in a research report on Wednesday, February 5th. Barclays lifted their target price on shares of MGIC Investment from $25.00 to $26.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 5th. Keefe, Bruyette & Woods dropped their price target on shares of MGIC Investment from $28.00 to $26.00 and set a "market perform" rating for the company in a research report on Tuesday, April 8th. Finally, UBS Group boosted their price objective on shares of MGIC Investment from $25.00 to $26.00 and gave the company a "neutral" rating in a research report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $26.50.

Insiders Place Their Bets

In related news, CAO Julie K. Sperber sold 4,600 shares of the company's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $24.55, for a total value of $112,930.00. Following the sale, the chief accounting officer now owns 75,070 shares in the company, valued at $1,842,968.50. This represents a 5.77 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.05% of the company's stock.

About MGIC Investment

MGIC Investment Corporation, through its subsidiaries, provides private mortgage insurance, other mortgage credit risk management solutions, and ancillary services to lenders and government sponsored entities in the United States, the District of Columbia, Puerto Rico, and Guam. The company offers primary mortgage insurance that provides mortgage default protection on individual loans, as well as covers unpaid loan principal, delinquent interest, and various expenses associated with the default and subsequent foreclosure.