MGIC Investment Corporation $MTG is NFC Investments LLC's Largest Position

Key Points

• NFC Investments LLC trimmed its MGIC stake by 3.6% to 1,808,379 shares, which remains its largest holding at about 14.8% of the portfolio and roughly 0.81% of MGIC worth ~$51.3M.
• MGIC beat quarterly EPS expectations ($0.75 vs. $0.73) and declared a quarterly dividend of $0.15 per share (annualized $0.60, ~2.2% yield), while analysts maintain a consensus Hold rating with an average target of $28.
• Significant insider selling occurred recently — CEO Timothy J. Mattke sold 139,203 shares and insiders sold 189,203 shares in the last 90 days overall, leaving insiders with about 1.05% ownership.

NFC Investments LLC decreased its holdings in shares of MGIC Investment Corporation (NYSE:MTG - Free Report) by 3.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,808,379 shares of the insurance provider's stock after selling 67,485 shares during the period. MGIC Investment makes up approximately 14.8% of NFC Investments LLC's holdings, making the stock its largest position. NFC Investments LLC owned approximately 0.81% of MGIC Investment worth $51,304,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in MTG. Alpine Bank Wealth Management purchased a new position in MGIC Investment in the third quarter valued at about $28,000. True Wealth Design LLC increased its holdings in MGIC Investment by 262.5% during the 2nd quarter. True Wealth Design LLC now owns 1,004 shares of the insurance provider's stock valued at $28,000 after acquiring an additional 727 shares in the last quarter. SBI Securities Co. Ltd. raised its position in MGIC Investment by 61.1% during the third quarter. SBI Securities Co. Ltd. now owns 1,041 shares of the insurance provider's stock worth $30,000 after acquiring an additional 395 shares during the last quarter. Hantz Financial Services Inc. raised its position in shares of MGIC Investment by 3,067.6% during the 2nd quarter. Hantz Financial Services Inc. now owns 1,077 shares of the insurance provider's stock worth $30,000 after purchasing an additional 1,043 shares during the last quarter. Finally, Employees Retirement System of Texas acquired a new position in shares of MGIC Investment in the second quarter worth $32,000. Institutional investors and hedge funds own 95.58% of the company's stock.

MGIC Investment Stock Performance

Shares of NYSE MTG opened at $26.90 on Thursday. MGIC Investment Corporation has a 12-month low of $21.94 and a 12-month high of $29.97. The company has a market cap of $5.78 billion, a PE ratio of 8.57, a P/E/G ratio of 2.12 and a beta of 0.83. The stock has a 50 day simple moving average of $27.30 and a 200-day simple moving average of $27.77. 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 issued its quarterly earnings data on Monday, February 2nd. The insurance provider reported $0.75 earnings per share for the quarter, beating analysts' consensus estimates of $0.73 by $0.02. MGIC Investment had a net margin of 60.84% and a return on equity of 14.33%. During the same quarter in the previous year, the company earned $0.72 EPS. The company's revenue for the quarter was down .9% compared to the same quarter last year. On average, equities research analysts forecast that MGIC Investment Corporation will post 2.71 EPS for the current year.

MGIC Investment Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Tuesday, February 17th will be given a dividend of $0.15 per share. The ex-dividend date is Tuesday, February 17th. This represents a $0.60 annualized dividend and a dividend yield of 2.2%. MGIC Investment's dividend payout ratio (DPR) is 19.11%.

Insider Activity at MGIC Investment

In other MGIC Investment news, CEO Timothy J. Mattke sold 139,203 shares of MGIC Investment stock in a transaction that occurred on Tuesday, January 13th. The shares were sold at an average price of $26.51, for a total value of $3,690,271.53. Following the transaction, the chief executive officer owned 822,588 shares in the company, valued at approximately $21,806,807.88. The trade was a 14.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Paula C. Maggio sold 20,000 shares of the business'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 sale, the executive vice president directly owned 114,689 shares in the company, valued at $3,155,094.39. This trade represents a 14.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 189,203 shares of company stock valued at $5,058,572 over the last 90 days. 1.05% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

MTG has been the topic of several recent analyst reports. Weiss Ratings lowered shares of MGIC Investment from a "buy (a-)" rating to a "buy (b+)" rating in a report on Thursday, February 5th. Barclays dropped their price target on shares of MGIC Investment from $30.00 to $28.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 4th. Finally, Keefe, Bruyette & Woods raised their price target on shares of MGIC Investment from $27.00 to $28.00 and gave the stock a "market perform" rating in a research report on Thursday, December 18th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $28.00.

MGIC Investment Company Profile

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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