111 Capital Buys Shares of 13,301 MGIC Investment Corporation $MTG

Key Points

• 111 Capital purchased 13,301 shares of MGIC Investment Corporation valued at approximately $370,000 in the second quarter, further highlighting growing institutional interest in the company.
• CEO Timothy J. Mattke and COO Salvatore A. Miosi sold a significant number of shares, with Mattke selling 139,203 shares for over $3.6 million, indicating a decrease in their ownership stakes.
• MGIC Investment recently raised its quarterly dividend from $0.13 to $0.15, reflecting its strong financial performance, with a current dividend yield of 2.2%.

111 Capital bought a new stake in shares of MGIC Investment Corporation (NYSE:MTG - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 13,301 shares of the insurance provider's stock, valued at approximately $370,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. QRG Capital Management Inc. increased its position in MGIC Investment by 13.8% during the 2nd quarter. QRG Capital Management Inc. now owns 15,681 shares of the insurance provider's stock valued at $437,000 after buying an additional 1,905 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of MGIC Investment by 23.9% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 63,774 shares of the insurance provider's stock worth $1,775,000 after acquiring an additional 12,315 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in shares of MGIC Investment by 29.3% during the second quarter. Robeco Institutional Asset Management B.V. now owns 1,058,931 shares of the insurance provider's stock valued at $29,481,000 after acquiring an additional 240,148 shares in the last quarter. Signaturefd LLC raised its position in shares of MGIC Investment by 6.3% in the 2nd quarter. Signaturefd LLC now owns 23,516 shares of the insurance provider's stock worth $655,000 after purchasing an additional 1,404 shares during the last quarter. Finally, FCG Investment Co bought a new position in MGIC Investment in the 2nd quarter worth about $846,000. Hedge funds and other institutional investors own 95.58% of the company's stock.

Insider Buying and Selling

In other news, CEO Timothy J. Mattke sold 139,203 shares of the business's stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $26.54, for a total transaction of $3,694,447.62. Following the completion of the sale, the chief executive officer owned 1,100,994 shares of the company's stock, valued at $29,220,380.76. The trade was a 11.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Salvatore A. Miosi sold 30,000 shares of the company's stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $28.15, for a total value of $844,500.00. Following the completion of the sale, the chief operating officer owned 189,401 shares of the company's stock, valued at $5,331,638.15. This trade represents a 13.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 199,203 shares of company stock worth $5,325,548. 1.05% of the stock is currently owned by insiders.

MGIC Investment Price Performance

Shares of MTG opened at $27.51 on Monday. The firm has a fifty day simple moving average of $27.68 and a two-hundred day simple moving average of $26.38. The firm has a market cap of $6.34 billion, a PE ratio of 9.02, a P/E/G ratio of 1.99 and a beta of 0.88. The company has a current ratio of 1.46, a quick ratio of 1.46 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 $29.01.

MGIC Investment (NYSE:MTG - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The insurance provider reported $0.82 EPS for the quarter, topping the consensus estimate of $0.70 by $0.12. MGIC Investment had a return on equity of 14.73% and a net margin of 62.58%.The company had revenue of $304.25 million during the quarter, compared to analyst estimates of $306.25 million. During the same quarter in the previous year, the company posted $0.77 earnings per share. MGIC Investment's revenue was down .3% compared to the same quarter last year. On average, equities analysts anticipate that MGIC Investment Corporation will post 2.71 EPS for the current year.

MGIC Investment Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 7th were paid a $0.15 dividend. This is a boost from MGIC Investment's previous quarterly dividend of $0.13. The ex-dividend date was Thursday, August 7th. This represents a $0.60 annualized dividend and a dividend yield of 2.2%. MGIC Investment's dividend payout ratio (DPR) is currently 19.67%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on MTG. Keefe, Bruyette & Woods raised their price objective on shares of MGIC Investment from $26.00 to $27.00 and gave the company a "market perform" rating in a research note on Monday, July 7th. Barclays raised their price target on shares of MGIC Investment from $26.00 to $27.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 8th. Finally, Weiss Ratings reaffirmed a "buy (a-)" rating on shares of MGIC Investment in a research report on Saturday, September 27th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, MGIC Investment presently has an average rating of "Hold" and a consensus target price of $26.67.

MGIC Investment Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.