3,477,798 Shares in MGIC Investment Corporation $MTG Purchased by Caisse de depot et placement du Quebec

Caisse de depot et placement du Quebec purchased a new stake in shares of MGIC Investment Corporation (NYSE:MTG - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 3,477,798 shares of the insurance provider's stock, valued at approximately $98,074,000. Caisse de depot et placement du Quebec owned about 1.70% of MGIC Investment as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Jefferies Financial Group Inc. grew its stake in shares of MGIC Investment by 245.3% during the fourth quarter. Jefferies Financial Group Inc. now owns 364,650 shares of the insurance provider's stock valued at $10,655,000 after purchasing an additional 259,039 shares during the last quarter. Geode Capital Management LLC raised its position in MGIC Investment by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 5,371,470 shares of the insurance provider's stock worth $163,368,000 after purchasing an additional 146,589 shares during the last quarter. Arbejdsmarkedets Tillaegspension acquired a new position in MGIC Investment during the 4th quarter worth $24,456,000. Norges Bank acquired a new position in MGIC Investment during the 4th quarter worth $96,248,000. Finally, Hsbc Holdings PLC boosted its position in MGIC Investment by 24.5% in the 4th quarter. Hsbc Holdings PLC now owns 207,412 shares of the insurance provider's stock valued at $6,089,000 after buying an additional 40,751 shares during the last quarter. 95.58% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, 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 value of $761,400.00. Following the transaction, the chief operating officer owned 560,951 shares in the company, valued at approximately $14,236,936.38. This trade represents a 5.08% 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 link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Paula C. Maggio sold 20,937 shares of the business's stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $25.55, for a total transaction of $534,940.35. Following the transaction, the executive vice president owned 169,620 shares of the company's stock, valued at approximately $4,333,791. This represents a 10.99% decrease in their ownership of the stock. 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. In the last 90 days, insiders have sold 70,937 shares of company stock worth $1,902,340. Corporate insiders own 1.34% of the company's stock.

MGIC Investment Stock Up 0.1%

MGIC Investment stock opened at $31.27 on Thursday. The company has a 50 day moving average of $29.31 and a 200-day moving average of $27.50. The stock has a market capitalization of $6.41 billion, a PE ratio of 9.77, a price-to-earnings-growth ratio of 0.79 and a beta of 0.66. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.13. MGIC Investment Corporation has a twelve month low of $24.69 and a twelve month high of $31.89.

MGIC Investment (NYSE:MTG - Get Free Report) last released its earnings results on Wednesday, July 29th. The insurance provider reported $0.87 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $297.54 million. During the same quarter last year, the firm earned $0.82 earnings per share. The firm's revenue for the quarter was down 2.9% compared to the same quarter last year. On average, equities research 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. Investors of record on Wednesday, August 5th were given a dividend of $0.17 per share. This is a positive change 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%. The ex-dividend date of this dividend was Wednesday, August 5th. MGIC Investment's payout ratio is 21.25%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on MTG shares. Weiss Ratings upgraded MGIC Investment from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Wednesday, August 19th. Royal Bank Of Canada raised their price target on MGIC Investment from $28.00 to $32.00 and gave the company a "sector perform" rating in a report on Friday, July 31st. Barclays cut 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 report on Friday, May 1st. Keefe, Bruyette & Woods raised their target price on shares of MGIC Investment from $29.00 to $30.00 and gave the company a "market perform" rating in a research note on Friday, July 31st. Finally, Roth Capital reiterated a "buy" rating and set a $35.00 price target on shares of MGIC Investment in a research report on Thursday, July 30th. One analyst has 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, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $30.60.

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.

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