MGIC Investment Corporation (NYSE:MTG) Holdings Lifted by Nilsine Partners LLC

Nilsine Partners LLC boosted its position in shares of MGIC Investment Corporation (NYSE:MTG - Free Report) by 11.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 98,841 shares of the insurance provider's stock after buying an additional 10,524 shares during the quarter. Nilsine Partners LLC's holdings in MGIC Investment were worth $2,449,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of MTG. Asset Management One Co. Ltd. boosted its position in shares of MGIC Investment by 311.0% in the 4th quarter. Asset Management One Co. Ltd. now owns 66,493 shares of the insurance provider's stock valued at $1,575,000 after purchasing an additional 50,316 shares during the period. State of New Jersey Common Pension Fund D lifted its holdings in shares of MGIC Investment by 2.8% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 85,436 shares of the insurance provider's stock valued at $2,026,000 after buying an additional 2,298 shares during the last quarter. Venturi Wealth Management LLC lifted its holdings in shares of MGIC Investment by 102.1% during the 4th quarter. Venturi Wealth Management LLC now owns 1,817 shares of the insurance provider's stock valued at $43,000 after buying an additional 918 shares during the last quarter. New York State Common Retirement Fund lifted its holdings in shares of MGIC Investment by 25.8% during the 4th quarter. New York State Common Retirement Fund now owns 360,028 shares of the insurance provider's stock valued at $8,536,000 after buying an additional 73,837 shares during the last quarter. Finally, Handelsbanken Fonder AB lifted its holdings in MGIC Investment by 11.6% in the 4th quarter. Handelsbanken Fonder AB now owns 67,482 shares of the insurance provider's stock worth $1,600,000 after purchasing an additional 7,000 shares during the last quarter. Institutional investors and hedge funds own 95.58% of the company's stock.

MGIC Investment Trading Up 0.2%

Shares of MTG opened at $27.02 on Friday. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.13. MGIC Investment Corporation has a 12-month low of $20.96 and a 12-month high of $27.34. The firm has a market capitalization of $6.41 billion, a PE ratio of 8.98, a price-to-earnings-growth ratio of 2.48 and a beta of 0.89. The stock's fifty day simple moving average is $25.83 and its 200-day simple moving average is $24.74.

MGIC Investment (NYSE:MTG - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The insurance provider reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.09. MGIC Investment had a return on equity of 14.96% and a net margin of 63.49%. The business had revenue of $306.23 million for the quarter, compared to analyst estimates of $306.66 million. During the same quarter in the prior year, the firm posted $0.65 earnings per share. The firm's revenue for the quarter was up 4.0% compared to the same quarter last year. As a group, research analysts predict that MGIC Investment Corporation will post 2.71 earnings per share for the current year.

MGIC Investment Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 21st. Shareholders of record on Thursday, May 8th were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.92%. The ex-dividend date was Thursday, May 8th. MGIC Investment's payout ratio is 17.28%.

MGIC Investment declared that its board has authorized a share buyback plan on Thursday, April 24th that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the insurance provider to purchase up to 12.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Keefe, Bruyette & Woods reduced their target price on MGIC Investment from $28.00 to $26.00 and set a "market perform" rating for the company in a report on Tuesday, April 8th. Compass Point restated a "neutral" rating and issued a $28.00 target price (up from $27.00) on shares of MGIC Investment in a report on Friday, May 23rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $26.63.

Insider Buying and Selling at MGIC Investment

In other MGIC Investment news, EVP Paula C. Maggio sold 20,000 shares of the stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $26.49, for a total value of $529,800.00. Following the completion of the sale, the executive vice president now directly owns 157,395 shares in the company, valued at $4,169,393.55. This represents a 11.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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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