Cwm LLC Has $6.57 Million Stock Position in MGIC Investment Corporation $MTG

Key Points

• Cwm LLC raised its stake in MGIC Investment (NYSE:MTG) by 41.6% in Q4 to 224,853 shares, holding about $6.57 million worth of stock at the end of the period.
• Several large institutions have also been adding to positions (notably AQR up 92.4% to 6.33 million shares), and institutional investors now own about 95.58% of MGIC’s shares.
• Company insiders have been net sellers recently: CEO Timothy Mattke sold 139,202 shares under a Rule 10b5‑1 plan and insiders sold 200,133 shares totaling roughly $5.34 million over the last quarter.

Cwm LLC increased its position in MGIC Investment Corporation (NYSE:MTG - Free Report) by 41.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 224,853 shares of the insurance provider's stock after buying an additional 66,082 shares during the period. Cwm LLC owned 0.10% of MGIC Investment worth $6,570,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. AQR Capital Management LLC raised its holdings in MGIC Investment by 92.4% during the second quarter. AQR Capital Management LLC now owns 6,333,091 shares of the insurance provider's stock worth $176,313,000 after buying an additional 3,041,446 shares during the last quarter. Assetmark Inc. increased its position in shares of MGIC Investment by 1,208.1% during the third quarter. Assetmark Inc. now owns 1,674,152 shares of the insurance provider's stock worth $47,496,000 after acquiring an additional 1,546,173 shares in the last quarter. Caisse de depot et placement du Quebec increased its position in shares of MGIC Investment by 20.4% during the third quarter. Caisse de depot et placement du Quebec now owns 3,943,965 shares of the insurance provider's stock worth $111,890,000 after acquiring an additional 667,876 shares in the last quarter. UBS Group AG raised its holdings in shares of MGIC Investment by 53.3% in the 3rd quarter. UBS Group AG now owns 1,711,453 shares of the insurance provider's stock worth $48,554,000 after acquiring an additional 594,980 shares during the last quarter. Finally, Qube Research & Technologies Ltd lifted its position in MGIC Investment by 65.3% in the 2nd quarter. Qube Research & Technologies Ltd now owns 1,398,381 shares of the insurance provider's stock valued at $38,931,000 after acquiring an additional 552,470 shares in the last quarter. Institutional investors own 95.58% of the company's stock.

MGIC Investment Stock Up 0.0%

MTG opened at $27.98 on Tuesday. MGIC Investment Corporation has a twelve month low of $23.24 and a twelve month high of $29.97. The company's 50-day moving average price is $26.61 and its two-hundred day moving average price is $27.42. The stock has a market cap of $6.01 billion, a price-to-earnings ratio of 8.91, a PEG ratio of 2.22 and a beta of 0.79. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.13.

MGIC Investment (NYSE:MTG - Get Free Report) last released its earnings results on Monday, February 2nd. The insurance provider reported $0.75 earnings per share (EPS) for the quarter, topping 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 in the prior year, the company earned $0.72 earnings per share. The firm's revenue for the quarter was down .9% on a year-over-year basis. As a group, equities analysts expect that MGIC Investment Corporation will post 3.08 earnings per share for the current year.

MGIC Investment Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 6th. Stockholders of record on Tuesday, February 17th were paid a $0.15 dividend. The ex-dividend date was Tuesday, February 17th. This represents a $0.60 annualized dividend and a dividend yield of 2.1%. MGIC Investment's dividend payout ratio (DPR) is presently 19.11%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on MTG shares. Barclays raised their target price on MGIC Investment from $28.00 to $29.00 and gave the company an "equal weight" rating in a report on Monday, April 6th. Keefe, Bruyette & Woods lifted their price objective on shares of 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 shares of MGIC Investment from $29.50 to $28.00 and set a "neutral" rating for the company in a report on Thursday, March 12th. Finally, Weiss Ratings lowered shares of MGIC Investment from a "buy (a-)" rating to a "buy (b+)" rating in a research report on Thursday, February 5th. One investment analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $28.50.

Insider Activity

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

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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