12,088 Shares in MGIC Investment Corporation $MTG Acquired by Kera Capital Partners Inc.

Key Points

• Kera Capital Partners Inc. has invested approximately $337,000 in 12,088 shares of MGIC Investment Corporation (NYSE:MTG) during the 2nd quarter as per SEC filings.
• MGIC Investment recently increased its quarterly dividend from $0.13 to $0.15 per share, offering an annualized yield of 2.1%.
• Several analysts have raised their price targets for MGIC Investment, with the consensus target now at $26.67 despite a recent 1.7% drop in stock value.

Kera Capital Partners Inc. purchased a new position in MGIC Investment Corporation (NYSE:MTG - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 12,088 shares of the insurance provider's stock, valued at approximately $337,000.

Several other large investors also recently bought and sold shares of MTG. JPMorgan Chase & Co. increased its position in MGIC Investment by 4.8% during the first quarter. JPMorgan Chase & Co. now owns 16,162,180 shares of the insurance provider's stock valued at $400,499,000 after acquiring an additional 743,212 shares during the last quarter. LSV Asset Management increased its position in MGIC Investment by 2.9% during the first quarter. LSV Asset Management now owns 10,888,437 shares of the insurance provider's stock valued at $269,815,000 after acquiring an additional 310,095 shares during the last quarter. AQR Capital Management LLC increased its position in MGIC Investment by 22.5% during the first quarter. AQR Capital Management LLC now owns 3,291,645 shares of the insurance provider's stock valued at $80,481,000 after acquiring an additional 605,342 shares during the last quarter. Goldman Sachs Group Inc. increased its position in MGIC Investment by 6.7% during the first quarter. Goldman Sachs Group Inc. now owns 3,103,366 shares of the insurance provider's stock valued at $76,901,000 after acquiring an additional 195,895 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec increased its position in MGIC Investment by 25.3% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,597,602 shares of the insurance provider's stock valued at $64,369,000 after acquiring an additional 524,973 shares during the last quarter. Institutional investors own 95.58% of the company's stock.

Insider Activity

In other news, CEO Timothy J. Mattke sold 139,203 shares of the company's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $26.54, for a total transaction of $3,694,447.62. Following the transaction, the chief executive officer owned 1,100,994 shares in the company, valued at $29,220,380.76. This represents a 11.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Salvatore A. Miosi sold 30,000 shares of the company's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $26.22, for a total transaction of $786,600.00. Following the transaction, the chief operating officer owned 249,401 shares in the company, valued at approximately $6,539,294.22. This trade represents a 10.74% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.05% of the company's stock.

MGIC Investment Stock Down 0.3%

NYSE:MTG traded down $0.07 during mid-day trading on Friday, reaching $28.43. The company's stock had a trading volume of 1,196,563 shares, compared to its average volume of 2,116,064. MGIC Investment Corporation has a 1 year low of $21.94 and a 1 year high of $29.01. The stock has a fifty day moving average of $27.06 and a 200-day moving average of $25.96. The firm has a market capitalization of $6.55 billion, a PE ratio of 9.33, a price-to-earnings-growth ratio of 2.02 and a beta of 0.89. 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 released its quarterly earnings data on Wednesday, July 30th. The insurance provider reported $0.82 earnings per share for the quarter, topping analysts' consensus estimates of $0.70 by $0.12. The company had revenue of $304.25 million during the quarter, compared to analyst estimates of $306.25 million. MGIC Investment had a net margin of 62.58% and a return on equity of 14.73%. The firm's revenue for the quarter was down .3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.77 earnings per share. Equities research analysts forecast that MGIC Investment Corporation will post 2.71 earnings per share for the current year.

MGIC Investment Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 7th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.1%. This is an increase 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 currently 19.67%.

Analysts Set New Price Targets

A number of research firms have weighed in on MTG. Barclays boosted their price objective on shares of MGIC Investment from $26.00 to $27.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 8th. Keefe, Bruyette & Woods boosted 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 report on Monday, July 7th. Finally, Compass Point reiterated a "neutral" rating and set a $28.00 price objective (up previously from $27.00) on shares of MGIC Investment in a research report on Friday, May 23rd. Five analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Reduce" and a consensus target price of $26.67.

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.