CWA Asset Management Group LLC Increases Position in MGIC Investment Corporation (NYSE:MTG)

CWA Asset Management Group LLC raised its position in MGIC Investment Corporation (NYSE:MTG - Free Report) by 28.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 45,398 shares of the insurance provider's stock after acquiring an additional 10,094 shares during the quarter. CWA Asset Management Group LLC's holdings in MGIC Investment were worth $1,125,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Asset Management One Co. Ltd. lifted its stake in MGIC Investment by 311.0% in the fourth quarter. Asset Management One Co. Ltd. now owns 66,493 shares of the insurance provider's stock valued at $1,575,000 after acquiring an additional 50,316 shares during the last quarter. Allianz Asset Management GmbH lifted its stake in MGIC Investment by 8.2% in the fourth quarter. Allianz Asset Management GmbH now owns 5,495,115 shares of the insurance provider's stock valued at $130,289,000 after acquiring an additional 415,586 shares during the last quarter. Wells Fargo & Company MN lifted its stake in MGIC Investment by 14.8% in the fourth quarter. Wells Fargo & Company MN now owns 90,987 shares of the insurance provider's stock valued at $2,157,000 after acquiring an additional 11,721 shares during the last quarter. Captrust Financial Advisors acquired a new stake in MGIC Investment in the fourth quarter valued at $230,000. Finally, Nomura Holdings Inc. acquired a new stake in MGIC Investment in the fourth quarter valued at $797,000. Institutional investors and hedge funds own 95.58% of the company's stock.

MGIC Investment Stock Up 2.6%

Shares of NYSE MTG traded up $0.71 during mid-day trading on Monday, hitting $27.73. 2,358,429 shares of the stock traded hands, compared to its average volume of 1,822,371. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.25 and a current ratio of 1.25. MGIC Investment Corporation has a 52 week low of $20.96 and a 52 week high of $27.83. The company has a market cap of $6.58 billion, a price-to-earnings ratio of 9.21, a PEG ratio of 2.48 and a beta of 0.89. The stock has a fifty day moving average price of $25.83 and a 200-day moving average price of $24.73.

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

MGIC Investment Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 21st. Stockholders of record on Thursday, May 8th were paid a dividend of $0.13 per share. The ex-dividend date was Thursday, May 8th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.88%. MGIC Investment's dividend payout ratio is 17.28%.

MGIC Investment announced that its board has authorized a share buyback program on Thursday, April 24th that allows the company to repurchase $750.00 million in shares. This repurchase authorization allows the insurance provider to buy up to 12.5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board of directors believes its shares are undervalued.

Analyst Ratings Changes

A number of analysts have recently issued reports on MTG shares. Keefe, Bruyette & Woods cut their target price on shares of MGIC Investment from $28.00 to $26.00 and set a "market perform" rating for the company in a research note on Tuesday, April 8th. Compass Point restated a "neutral" rating and set a $28.00 target price (up previously from $27.00) on shares of MGIC Investment in a research note on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $26.63.

Insider Activity

In other news, EVP Paula C. Maggio sold 20,000 shares of the firm's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $26.49, for a total value of $529,800.00. Following the completion of the sale, the executive vice president now owns 157,395 shares of the company's stock, valued at $4,169,393.55. This trade represents a 11.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.41% of the company's stock.

About MGIC Investment

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.