Campbell & CO Investment Adviser LLC Makes New $1.41 Million Investment in MGIC Investment Corporation $MTG

Key Points

• Campbell & CO Investment Adviser LLC has invested approximately $1.41 million in MGIC Investment Corporation by acquiring 56,858 shares in the first quarter.
• MGIC Investment recently increased its quarterly dividend from $0.13 to $0.15 per share, representing an annual yield of 2.1%.
• Wall Street analysts have varying ratings for MGIC Investment, with a consensus target price of $26.67 and five analysts giving it a "Hold" rating.

Campbell & CO Investment Adviser LLC purchased a new position in shares of MGIC Investment Corporation (NYSE:MTG - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 56,858 shares of the insurance provider's stock, valued at approximately $1,409,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its position in MGIC Investment by 4.8% during the first quarter. JPMorgan Chase & Co. now owns 16,162,180 shares of the insurance provider's stock worth $400,499,000 after acquiring an additional 743,212 shares in the last quarter. LSV Asset Management raised its position in MGIC Investment by 2.9% during the first quarter. LSV Asset Management now owns 10,888,437 shares of the insurance provider's stock worth $269,815,000 after acquiring an additional 310,095 shares in the last quarter. Northern Trust Corp raised its position in MGIC Investment by 6.5% during the fourth quarter. Northern Trust Corp now owns 4,524,277 shares of the insurance provider's stock worth $107,271,000 after acquiring an additional 277,746 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its position in MGIC Investment by 292.0% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,072,629 shares of the insurance provider's stock worth $49,142,000 after acquiring an additional 1,543,908 shares in the last quarter. Finally, NewEdge Wealth LLC raised its position in MGIC Investment by 4.0% during the first quarter. NewEdge Wealth LLC now owns 1,911,085 shares of the insurance provider's stock worth $47,357,000 after acquiring an additional 73,264 shares in the last quarter. 95.58% of the stock is owned by institutional investors.

Insider Transactions at MGIC Investment

In related news, COO Salvatore A. Miosi sold 30,000 shares of the firm's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $26.22, for a total transaction of $786,600.00. Following the transaction, the chief operating officer directly owned 249,401 shares of the company's stock, valued at approximately $6,539,294.22. This trade represents a 10.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Timothy J. Mattke sold 139,203 shares of the firm's stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $26.54, for a total transaction of $3,694,447.62. Following the transaction, the chief executive officer directly owned 1,100,994 shares in the company, valued at approximately $29,220,380.76. This represents a 11.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.41% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on MTG. Compass Point reaffirmed a "neutral" rating and set a $28.00 price target (up from $27.00) on shares of MGIC Investment in a research report on Friday, May 23rd. Keefe, Bruyette & Woods increased 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, July 7th. Finally, Barclays increased their price objective 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. Five research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, MGIC Investment presently has an average rating of "Reduce" and a consensus target price of $26.67.

MGIC Investment Stock Performance

Shares of MTG traded up $0.13 during trading hours on Friday, hitting $27.81. The company had a trading volume of 1,578,097 shares, compared to its average volume of 1,787,920. MGIC Investment Corporation has a 12 month low of $21.94 and a 12 month high of $28.67. The firm has a market cap of $6.41 billion, a price-to-earnings ratio of 9.12, a PEG ratio of 2.01 and a beta of 0.89. The business has a fifty day moving average of $26.89 and a 200-day moving average of $25.61. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.13.

MGIC Investment (NYSE:MTG - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The insurance provider reported $0.82 EPS for the quarter, topping analysts' consensus estimates of $0.70 by $0.12. MGIC Investment had a net margin of 62.58% and a return on equity of 14.73%. The business had revenue of $304.25 million for the quarter, compared to analyst estimates of $306.25 million. During the same period last year, the firm earned $0.77 earnings per share. MGIC Investment's revenue for the quarter was down .3% compared to the same quarter last year. Equities analysts anticipate that MGIC Investment Corporation will post 2.71 EPS for the current fiscal year.

MGIC Investment Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 7th were given a dividend of $0.15 per share. This is a positive change from MGIC Investment's previous quarterly dividend of $0.13. This represents a $0.60 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend was Thursday, August 7th. MGIC Investment's payout ratio is 19.67%.

MGIC Investment 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.