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 acquired a new stake in MGIC Investment Corporation (NYSE:MTG - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 56,858 shares of the insurance provider's stock, valued at approximately $1,409,000.

Other institutional investors also recently modified their holdings of the company. Cullen Frost Bankers Inc. acquired a new stake in MGIC Investment in the first quarter worth $33,000. Golden State Wealth Management LLC grew its stake in shares of MGIC Investment by 7,837.0% in the 1st quarter. Golden State Wealth Management LLC now owns 2,143 shares of the insurance provider's stock valued at $53,000 after buying an additional 2,116 shares during the period. Headlands Technologies LLC increased its position in MGIC Investment by 619.2% in the 1st quarter. Headlands Technologies LLC now owns 2,280 shares of the insurance provider's stock valued at $56,000 after buying an additional 1,963 shares in the last quarter. UMB Bank n.a. raised its stake in MGIC Investment by 61.3% during the 1st quarter. UMB Bank n.a. now owns 2,660 shares of the insurance provider's stock worth $66,000 after buying an additional 1,011 shares during the period. Finally, Fifth Third Bancorp raised its stake in MGIC Investment by 20.1% during the 1st quarter. Fifth Third Bancorp now owns 2,749 shares of the insurance provider's stock worth $68,000 after buying an additional 461 shares during the period. Institutional investors and hedge funds own 95.58% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MTG. Compass Point restated a "neutral" rating and set a $28.00 price objective (up previously from $27.00) on shares of MGIC Investment in a report on Friday, May 23rd. Barclays boosted 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 note on Tuesday, July 8th. Finally, 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. Five equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Reduce" and a consensus target price of $26.67.

MGIC Investment Stock Down 0.7%

Shares of NYSE:MTG opened at $27.94 on Tuesday. The business's 50 day moving average is $26.81 and its 200 day moving average is $25.52. MGIC Investment Corporation has a 12-month low of $21.94 and a 12-month high of $28.67. The stock has a market cap of $6.44 billion, a price-to-earnings ratio of 9.16, a PEG ratio of 2.04 and a beta of 0.90. 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 issued its quarterly earnings data on Wednesday, July 30th. The insurance provider reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.12. The business had revenue of $304.25 million for the quarter, compared to analysts' expectations of $306.25 million. MGIC Investment had a return on equity of 14.73% and a net margin of 62.58%.The business's revenue was down .3% on a year-over-year basis. During the same period last year, the business earned $0.77 EPS. On average, sell-side analysts forecast that MGIC Investment Corporation will post 2.71 earnings per share for the current fiscal year.

MGIC Investment Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 7th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 2.1%. This is a boost from MGIC Investment's previous quarterly dividend of $0.13. The ex-dividend date was Thursday, August 7th. MGIC Investment's dividend payout ratio is presently 19.67%.

Insiders Place Their Bets

In other MGIC Investment news, CEO Timothy J. Mattke sold 139,203 shares of the stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $26.54, for a total value of $3,694,447.62. Following the completion of the sale, the chief executive officer owned 1,100,994 shares in the company, valued at approximately $29,220,380.76. This trade represents a 11.22% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Salvatore A. Miosi sold 30,000 shares of the business's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $26.22, for a total value of $786,600.00. Following the completion of the transaction, the chief operating officer owned 249,401 shares in the company, valued at $6,539,294.22. The trade was a 10.74% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 189,203 shares of company stock valued at $5,010,848. Corporate insiders own 1.41% of the company's stock.

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.

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