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

CWA Asset Management Group LLC lifted its stake in shares of MGIC Investment Corporation (NYSE:MTG - Free Report) by 28.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 45,398 shares of the insurance provider's stock after purchasing an additional 10,094 shares during the quarter. CWA Asset Management Group LLC's holdings in MGIC Investment were worth $1,125,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in MTG. Venturi Wealth Management LLC increased its position in shares of MGIC Investment by 102.1% during the fourth quarter. Venturi Wealth Management LLC now owns 1,817 shares of the insurance provider's stock valued at $43,000 after buying an additional 918 shares during the period. Physician Wealth Advisors Inc. purchased a new position in MGIC Investment during the fourth quarter valued at approximately $54,000. EverSource Wealth Advisors LLC increased its holdings in MGIC Investment by 21.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,336 shares of the insurance provider's stock worth $55,000 after acquiring an additional 419 shares during the period. UMB Bank n.a. increased its holdings 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 acquiring an additional 1,011 shares during the period. Finally, Fifth Third Bancorp lifted its stake in MGIC Investment by 20.1% in the 1st quarter. Fifth Third Bancorp now owns 2,749 shares of the insurance provider's stock worth $68,000 after purchasing an additional 461 shares in the last quarter. Hedge funds and other institutional investors own 95.58% of the company's stock.

MGIC Investment Stock Performance

NYSE MTG opened at $26.91 on Friday. MGIC Investment Corporation has a 52-week low of $20.95 and a 52-week high of $27.34. The company has a fifty day moving average of $25.77 and a 200-day moving average of $24.74. The company has a market capitalization of $6.39 billion, a P/E ratio of 8.94, a P/E/G ratio of 2.48 and a beta of 0.89. 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 (NYSE:MTG - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The insurance provider reported $0.75 earnings per share for the quarter, beating analysts' consensus estimates of $0.66 by $0.09. MGIC Investment had a return on equity of 14.96% and a net margin of 63.49%. The business had revenue of $306.23 million for the quarter, compared to the consensus estimate of $306.66 million. During the same quarter last year, the business posted $0.65 earnings per share. The company's revenue for the quarter was up 4.0% on a year-over-year basis. As a group, equities research analysts predict that MGIC Investment Corporation will post 2.71 EPS for the current fiscal year.

MGIC Investment Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 21st. Investors of record on Thursday, May 8th were given a $0.13 dividend. The ex-dividend date was Thursday, May 8th. This represents a $0.52 dividend on an annualized basis and a yield of 1.93%. MGIC Investment's payout ratio is 17.28%.

MGIC Investment declared that its Board of Directors has approved a share repurchase program on Thursday, April 24th that allows the company to repurchase $750.00 million in outstanding shares. This repurchase authorization allows the insurance provider to reacquire up to 12.5% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's leadership believes its shares are undervalued.

Analysts Set New Price Targets

MTG has been the topic of several research analyst reports. Keefe, Bruyette & Woods decreased their price target on shares of MGIC Investment from $28.00 to $26.00 and set a "market perform" rating on the stock in a report on Tuesday, April 8th. Compass Point restated a "neutral" rating and set a $28.00 target price (up from $27.00) on shares of MGIC Investment in a research report on Friday, May 23rd. One 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's stock. According to MarketBeat, MGIC Investment presently has an average rating of "Hold" and an average target price of $26.63.

Insiders Place Their Bets

In other news, EVP Paula C. Maggio sold 20,000 shares of the business's stock in a transaction that occurred on Friday, May 30th. The shares were 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 directly owns 157,395 shares in the company, valued at approximately $4,169,393.55. The trade was a 11.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.05% of the stock is owned by insiders.

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.

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