Lingohr Asset Management GmbH Trims Position in MGIC Investment Corporation $MTG

Key Points

• Lingohr Asset Management GmbH significantly reduced its stake in MGIC Investment Corporation by 93.2%, now holding just 13,534 shares valued at $377,000 after selling 185,073 shares.
• MGIC Investment recently declared a quarterly dividend of $0.15 per share, an increase from its previous dividend of $0.13, representing an annualized yield of 2.1%.
• The company's stock performance shows a 1 year low of $21.94 and a 1 year high of $28.98, with analysts forecasting earnings per share of 2.71 for the current year.

Lingohr Asset Management GmbH lessened its stake in MGIC Investment Corporation (NYSE:MTG - Free Report) by 93.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,534 shares of the insurance provider's stock after selling 185,073 shares during the period. Lingohr Asset Management GmbH's holdings in MGIC Investment were worth $377,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. EP Wealth Advisors LLC grew its position in MGIC Investment by 0.9% in the first quarter. EP Wealth Advisors LLC now owns 45,481 shares of the insurance provider's stock worth $1,127,000 after acquiring an additional 398 shares in the last quarter. Brooklyn Investment Group boosted its holdings in shares of MGIC Investment by 15.5% in the 1st quarter. Brooklyn Investment Group now owns 3,094 shares of the insurance provider's stock worth $77,000 after purchasing an additional 416 shares in the last quarter. Signaturefd LLC boosted its holdings in shares of MGIC Investment by 1.9% in the 1st quarter. Signaturefd LLC now owns 22,112 shares of the insurance provider's stock worth $548,000 after purchasing an additional 421 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in MGIC Investment by 4.2% in the first quarter. PNC Financial Services Group Inc. now owns 10,894 shares of the insurance provider's stock worth $270,000 after buying an additional 437 shares in the last quarter. Finally, Fifth Third Bancorp boosted its stake in MGIC Investment by 20.1% in the first quarter. Fifth Third Bancorp now owns 2,749 shares of the insurance provider's stock worth $68,000 after buying an additional 461 shares in the last quarter. 95.58% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other MGIC Investment news, COO Salvatore A. Miosi sold 30,000 shares of the business's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $26.22, for a total transaction of $786,600.00. Following the completion of the sale, the chief operating officer directly owned 249,401 shares in the company, valued at approximately $6,539,294.22. The trade was a 10.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Timothy J. Mattke sold 139,203 shares of the business's stock in a transaction on 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 sale, 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 disclosure for this sale can be found here. 1.05% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Barclays upped their target price on MGIC Investment from $26.00 to $27.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 8th. Keefe, Bruyette & Woods upped 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 note on Monday, July 7th. Finally, Compass Point restated a "neutral" rating and set a $28.00 price target (up from $27.00) on shares of MGIC Investment in a research report on Friday, May 23rd. Five investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Reduce" and an average price target of $26.67.

MGIC Investment Stock Performance

NYSE:MTG traded down $0.04 during mid-day trading on Friday, reaching $28.47. The company's stock had a trading volume of 1,699,768 shares, compared to its average volume of 2,118,728. MGIC Investment Corporation has a 12-month low of $21.94 and a 12-month high of $29.01. The firm's fifty day moving average price is $27.06 and its two-hundred day moving average price is $25.96. 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 has a market cap of $6.56 billion, a P/E ratio of 9.33, a PEG ratio of 2.02 and a beta of 0.89.

MGIC Investment (NYSE:MTG - Get Free Report) last issued its earnings results 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. MGIC Investment had a return on equity of 14.73% and a net margin of 62.58%.The business had revenue of $304.25 million during the quarter, compared to analyst estimates of $306.25 million. During the same quarter in the previous year, the firm earned $0.77 EPS. MGIC Investment's revenue was down .3% on a year-over-year basis. On average, equities analysts forecast that MGIC Investment Corporation will post 2.71 EPS for the current fiscal 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. The ex-dividend date of this dividend was Thursday, August 7th. This is a positive change from MGIC Investment's previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a dividend yield of 2.1%. MGIC Investment's dividend payout ratio is presently 19.67%.

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.