Caprock Group LLC Has $2.85 Million Stock Position in MGIC Investment Corporation $MTG

Key Points

• Caprock Group LLC boosted its stake in MGIC Investment (NYSE:MTG) by 86.7% in Q4 to 97,651 shares, worth $2.85 million, as institutional investors collectively own about 95.6% of the stock.
• CEO Timothy J. Mattke sold 139,202 shares on April 2 under a Rule 10b5-1 plan for roughly $3.69 million, and insiders sold 200,133 shares (~$5.34 million) in the quarter, reducing insider ownership to 1.34%.
• The board authorized a $750 million share buyback (up to 12.4% of shares) and approved a $0.15 quarterly dividend ($0.60 annual, ~2.1% yield).

Caprock Group LLC boosted its position in MGIC Investment Corporation (NYSE:MTG - Free Report) by 86.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 97,651 shares of the insurance provider's stock after purchasing an additional 45,335 shares during the period. Caprock Group LLC's holdings in MGIC Investment were worth $2,853,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Alpine Bank Wealth Management acquired a new position in MGIC Investment in the 3rd quarter worth about $28,000. Newbridge Financial Services Group Inc. acquired a new position in MGIC Investment in the 3rd quarter worth about $28,000. SBI Securities Co. Ltd. increased its holdings in MGIC Investment by 61.1% in the 3rd quarter. SBI Securities Co. Ltd. now owns 1,041 shares of the insurance provider's stock worth $30,000 after purchasing an additional 395 shares in the last quarter. V Square Quantitative Management LLC acquired a new position in MGIC Investment in the 4th quarter worth about $36,000. Finally, Root Financial Partners LLC acquired a new position in MGIC Investment in the 3rd quarter worth about $38,000. Institutional investors and hedge funds own 95.58% of the company's stock.

Insider Buying and Selling at MGIC Investment

In other MGIC Investment news, CEO Timothy J. Mattke sold 139,202 shares of the company's stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $26.49, for a total value of $3,687,460.98. Following the sale, the chief executive officer owned 1,118,005 shares in the company, valued at approximately $29,615,952.45. The trade was a 11.07% decrease in their position. The transaction was disclosed in a filing with the SEC, 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 20,000 shares of the company's stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $27.51, for a total value of $550,200.00. Following the completion of the sale, the executive vice president owned 114,689 shares in the company, valued at $3,155,094.39. This trade represents a 14.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 200,133 shares of company stock worth $5,342,700. Insiders own 1.34% of the company's stock.

MGIC Investment Trading Down 0.4%

NYSE MTG opened at $28.66 on Friday. The business's 50-day moving average price is $26.71 and its two-hundred day moving average price is $27.44. MGIC Investment Corporation has a 12 month low of $24.14 and a 12 month high of $29.97. The firm has a market capitalization of $6.16 billion, a PE ratio of 9.13, a price-to-earnings-growth ratio of 2.29 and a beta of 0.79. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.13.

MGIC Investment (NYSE:MTG - Get Free Report) last released its quarterly earnings results on Monday, February 2nd. The insurance provider reported $0.75 EPS for the quarter, beating analysts' consensus estimates of $0.73 by $0.02. MGIC Investment had a return on equity of 14.33% and a net margin of 60.84%.During the same period last year, the firm posted $0.72 EPS. MGIC Investment's quarterly revenue was down .9% on a year-over-year basis. On average, analysts expect that MGIC Investment Corporation will post 3.08 EPS for the current year.

MGIC Investment announced that its Board of Directors has approved a stock repurchase plan on Thursday, April 23rd that allows the company to buyback $750.00 million in outstanding shares. This buyback authorization allows the insurance provider to reacquire up to 12.4% of its stock through open market purchases. Stock buyback plans are often an indication that the company's board of directors believes its shares are undervalued.

MGIC Investment Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 21st. Shareholders of record on Wednesday, May 6th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Wednesday, May 6th. MGIC Investment's payout ratio is 19.11%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on MTG shares. Keefe, Bruyette & Woods upped their target price on MGIC Investment from $28.00 to $29.00 and gave the stock a "market perform" rating in a report on Friday, April 10th. UBS Group lowered their target price on MGIC Investment from $29.50 to $28.00 and set a "neutral" rating for the company in a report on Thursday, March 12th. Barclays upped their target price on MGIC Investment from $28.00 to $29.00 and gave the stock an "equal weight" rating in a report on Monday, April 6th. Finally, Weiss Ratings cut MGIC Investment from a "buy (a-)" rating to a "buy (b+)" rating in a report on Thursday, February 5th. One analyst has rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $28.50.

About MGIC Investment

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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