Brown Advisory Inc. Sells 33,140 Shares of MGIC Investment Corporation (NYSE:MTG)

Brown Advisory Inc. lowered its stake in shares of MGIC Investment Corporation (NYSE:MTG - Free Report) by 1.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,796,456 shares of the insurance provider's stock after selling 33,140 shares during the period. Brown Advisory Inc. owned about 0.74% of MGIC Investment worth $44,516,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MTG. US Bancorp DE grew its position in MGIC Investment by 6.2% during the fourth quarter. US Bancorp DE now owns 10,249 shares of the insurance provider's stock worth $243,000 after buying an additional 600 shares during the period. Proficio Capital Partners LLC purchased a new position in MGIC Investment during the fourth quarter worth approximately $653,000. Raymond James Financial Inc. purchased a new position in MGIC Investment during the fourth quarter worth approximately $1,740,000. PNC Financial Services Group Inc. raised its stake in MGIC Investment by 6.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 10,457 shares of the insurance provider's stock worth $248,000 after purchasing an additional 608 shares during the period. Finally, Amundi purchased a new position in MGIC Investment during the fourth quarter worth approximately $8,914,000. 95.58% of the stock is currently owned by institutional investors and hedge funds.

MGIC Investment Price Performance

MGIC Investment stock traded down $0.61 during mid-day trading on Thursday, hitting $25.97. The company's stock had a trading volume of 1,471,617 shares, compared to its average volume of 1,862,092. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $6.17 billion, a P/E ratio of 8.66, a P/E/G ratio of 2.49 and a beta of 0.89. MGIC Investment Corporation has a twelve month low of $21.47 and a twelve month high of $28.67. The stock's fifty day moving average price is $26.74 and its two-hundred day moving average price is $25.03.

MGIC Investment (NYSE:MTG - Get Free Report) last released its earnings results on Wednesday, April 30th. The insurance provider reported $0.75 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.66 by $0.09. MGIC Investment had a net margin of 63.49% and a return on equity of 14.96%. The company had revenue of $306.23 million during the quarter, compared to the consensus estimate of $306.66 million. During the same quarter in the prior year, the firm earned $0.65 EPS. The company's revenue was up 4.0% compared to the same quarter last year. Research analysts forecast that MGIC Investment Corporation will post 2.71 earnings per share for the current year.

MGIC Investment declared that its Board of Directors has initiated a share buyback plan on Thursday, April 24th that permits the company to buyback $750.00 million in shares. This buyback authorization permits the insurance provider to reacquire up to 12.5% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board believes its shares are undervalued.

MGIC Investment Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 21st. Shareholders of record on Thursday, May 8th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date of this dividend was Thursday, May 8th. MGIC Investment's dividend payout ratio (DPR) is presently 17.28%.

Insiders Place Their Bets

In related news, EVP Paula C. Maggio sold 20,000 shares of the firm's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $26.49, for a total transaction of $529,800.00. Following the completion of the transaction, the executive vice president owned 157,395 shares in the company, valued at $4,169,393.55. This trade represents a 11.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.05% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

MTG has been the topic of a number of research reports. Compass Point reissued a "neutral" rating and issued a $28.00 target price (up previously from $27.00) on shares of MGIC Investment in a research note on Friday, May 23rd. Barclays boosted their target price on shares of MGIC Investment from $26.00 to $27.00 and gave the stock an "equal weight" rating in a research report on Tuesday. Finally, Keefe, Bruyette & Woods boosted 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 report on Monday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, MGIC Investment presently has a consensus rating of "Hold" and a consensus target price of $26.88.

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.