MGIC Investment Corporation $MTG Shares Bought by Vanguard Personalized Indexing Management LLC

Key Points

• Vanguard Personalized Indexing Management LLC increased its stake in MGIC Investment Corporation by 17.9% during the second quarter, holding 72,841 shares valued at approximately $2.03 million.
• The company reported earnings of $0.82 per share for the most recent quarter, surpassing analysts' expectations, and its revenue was $304.25 million, slightly below estimates.
• MGIC Investment recently increased its quarterly dividend to $0.15 per share, representing a 2.3% yield, up from the previous dividend of $0.13.

Vanguard Personalized Indexing Management LLC grew its holdings in shares of MGIC Investment Corporation (NYSE:MTG - Free Report) by 17.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 72,841 shares of the insurance provider's stock after buying an additional 11,085 shares during the period. Vanguard Personalized Indexing Management LLC's holdings in MGIC Investment were worth $2,028,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in MTG. WPG Advisers LLC acquired a new stake in MGIC Investment in the 1st quarter valued at approximately $26,000. Cullen Frost Bankers Inc. bought a new position in shares of MGIC Investment in the first quarter worth $33,000. Quarry LP acquired a new position in shares of MGIC Investment during the first quarter valued at $38,000. Geneos Wealth Management Inc. increased its holdings in shares of MGIC Investment by 88.0% during the first quarter. Geneos Wealth Management Inc. now owns 1,745 shares of the insurance provider's stock valued at $43,000 after purchasing an additional 817 shares during the period. Finally, Harbor Capital Advisors Inc. bought a new stake in shares of MGIC Investment during the second quarter valued at about $49,000. 95.58% of the stock is owned by institutional investors.

MGIC Investment Price Performance

NYSE:MTG opened at $26.55 on Friday. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.13. The business's 50-day moving average price is $27.83 and its 200 day moving average price is $26.52. MGIC Investment Corporation has a 52-week low of $21.94 and a 52-week high of $29.01. The firm has a market cap of $6.12 billion, a P/E ratio of 8.70, a PEG ratio of 1.98 and a beta of 0.88.

MGIC Investment (NYSE:MTG - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The insurance provider reported $0.82 earnings per share for the quarter, beating the consensus estimate 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 business's revenue for the quarter was down .3% on a year-over-year basis. During the same quarter last year, the firm posted $0.77 EPS. As a group, sell-side analysts predict that MGIC Investment Corporation will post 2.71 earnings per share for the current fiscal year.

MGIC Investment Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 7th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.3%. This is a positive change from MGIC Investment's previous quarterly dividend of $0.13. The ex-dividend date was Thursday, August 7th. MGIC Investment's dividend payout ratio (DPR) is presently 19.67%.

Wall Street Analyst Weigh In

MTG has been the subject of a number of recent analyst reports. Barclays increased their target price on shares of MGIC Investment from $27.00 to $28.00 and gave the company a "cautious" rating in a research report on Monday, October 6th. Keefe, Bruyette & Woods upped their price target on shares of MGIC Investment from $26.00 to $27.00 and gave the stock a "market perform" rating in a research note on Monday, July 7th. Finally, Weiss Ratings reiterated a "buy (a-)" rating on shares of MGIC Investment in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $26.83.

Insider Buying and Selling at MGIC Investment

In other MGIC Investment news, CEO Timothy J. Mattke sold 139,203 shares of the company's stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $26.54, for a total value of $3,694,447.62. Following the transaction, the chief executive officer owned 1,100,994 shares of the company's stock, valued at approximately $29,220,380.76. This represents a 11.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Salvatore A. Miosi sold 30,000 shares of the firm's stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $28.15, for a total value of $844,500.00. Following the sale, the chief operating officer directly owned 189,401 shares of the company's stock, valued at approximately $5,331,638.15. This represents a 13.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 338,406 shares of company stock worth $9,096,557 in the last ninety days. 1.05% of the stock is owned by corporate insiders.

MGIC Investment Company 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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