MGIC Investment Corporation $MTG Shares Purchased by Robeco Institutional Asset Management B.V.

Key Points

• Robeco Institutional Asset Management B.V. increased its stake in MGIC Investment Corporation by 29.3% in Q2, acquiring an additional 240,148 shares, bringing its total ownership to approximately $29.5 million.
• MGIC Investment recently declared a quarterly dividend of $0.15 per share, increased from the previous $0.13, which reflects a 2.2% dividend yield and a payout ratio of 19.67%.
• Shares of MGIC Investment Corporation traded at $27.51, with a market cap of $6.34 billion and a price-to-earnings ratio of 9.02, as of the last trading session.

Robeco Institutional Asset Management B.V. raised its holdings in shares of MGIC Investment Corporation (NYSE:MTG - Free Report) by 29.3% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,058,931 shares of the insurance provider's stock after purchasing an additional 240,148 shares during the quarter. Robeco Institutional Asset Management B.V. owned 0.45% of MGIC Investment worth $29,481,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. WPG Advisers LLC acquired a new stake in MGIC Investment during the 1st quarter valued at approximately $26,000. Cullen Frost Bankers Inc. acquired a new stake in MGIC Investment during the 1st quarter valued at approximately $33,000. Quarry LP acquired a new stake in MGIC Investment during the 1st quarter valued at approximately $38,000. Geneos Wealth Management Inc. grew its stake in MGIC Investment by 88.0% during the 1st 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 in the last quarter. Finally, Harbor Capital Advisors Inc. acquired a new stake in MGIC Investment during the 2nd quarter valued at approximately $49,000. Institutional investors and hedge funds own 95.58% of the company's stock.

MGIC Investment Trading Down 0.9%

Shares of NYSE MTG opened at $27.51 on Friday. The company has a market cap of $6.34 billion, a price-to-earnings ratio of 9.02, a price-to-earnings-growth ratio of 2.01 and a beta of 0.88. MGIC Investment Corporation has a 12-month low of $21.94 and a 12-month high of $29.01. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.13. The stock's 50 day simple moving average is $27.68 and its 200 day simple moving average is $26.34.

MGIC Investment (NYSE:MTG - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The insurance provider reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.12. The business had revenue of $304.25 million for the quarter, compared to the consensus estimate of $306.25 million. MGIC Investment had a return on equity of 14.73% and a net margin of 62.58%.The business's revenue was down .3% on a year-over-year basis. During the same quarter last year, the business posted $0.77 EPS. Equities research analysts expect that MGIC Investment Corporation will post 2.71 EPS for the current year.

MGIC Investment Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 7th were issued a $0.15 dividend. This is a positive change from MGIC Investment's previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Thursday, August 7th. This represents a $0.60 annualized dividend and a dividend yield of 2.2%. MGIC Investment's dividend payout ratio (DPR) is 19.67%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on MTG. Keefe, Bruyette & Woods raised their price objective on MGIC Investment from $26.00 to $27.00 and gave the company a "market perform" rating in a research note on Monday, July 7th. Barclays increased their target price on MGIC Investment from $26.00 to $27.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 8th. Finally, Weiss Ratings reaffirmed a "buy (a-)" rating on shares of MGIC Investment in a report on Saturday, September 27th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $26.67.

Insider Activity at MGIC Investment

In related news, COO Salvatore A. Miosi sold 30,000 shares of the firm's stock in a transaction that occurred 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 owned 189,401 shares of the company's stock, valued at approximately $5,331,638.15. This trade represents a 13.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Timothy J. Mattke sold 139,203 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the chief executive officer directly owned 1,100,994 shares in the company, valued at approximately $29,220,380.76. This trade represents a 11.22% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 199,203 shares of company stock worth $5,325,548. Company insiders own 1.05% of the company's stock.

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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