Nilsine Partners LLC Purchases 10,524 Shares of MGIC Investment Corporation (NYSE:MTG)

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

Several other hedge funds and other institutional investors also recently modified their holdings of MTG. Norges Bank acquired a new position in shares of MGIC Investment in the 4th quarter valued at about $85,908,000. First Trust Advisors LP boosted its stake in MGIC Investment by 22.4% during the 4th quarter. First Trust Advisors LP now owns 16,008,489 shares of the insurance provider's stock valued at $379,561,000 after purchasing an additional 2,928,595 shares during the period. Caisse DE Depot ET Placement DU Quebec boosted its stake in MGIC Investment by 292.0% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,072,629 shares of the insurance provider's stock valued at $49,142,000 after purchasing an additional 1,543,908 shares during the period. BNP Paribas Financial Markets lifted its stake in shares of MGIC Investment by 259.4% in the 4th quarter. BNP Paribas Financial Markets now owns 1,105,399 shares of the insurance provider's stock worth $26,209,000 after acquiring an additional 797,852 shares during the period. Finally, Invesco Ltd. lifted its stake in shares of MGIC Investment by 16.6% in the 4th quarter. Invesco Ltd. now owns 4,766,195 shares of the insurance provider's stock worth $113,006,000 after acquiring an additional 677,227 shares during the period. Institutional investors own 95.58% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on MTG. Compass Point reiterated 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. Keefe, Bruyette & Woods cut their price target on shares of MGIC Investment from $28.00 to $26.00 and set a "market perform" rating on the stock in a report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $26.63.

Insider Buying and Selling

In other news, EVP Paula C. Maggio sold 20,000 shares of the firm's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $26.49, for a total transaction of $529,800.00. Following the completion of the transaction, the executive vice president now directly owns 157,395 shares of the company's stock, valued at approximately $4,169,393.55. This trade represents a 11.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.41% of the stock is owned by insiders.

MGIC Investment Stock Up 1.4%

MTG stock traded up $0.40 during trading hours on Tuesday, hitting $28.11. The company's stock had a trading volume of 3,233,022 shares, compared to its average volume of 1,827,567. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $6.67 billion, a PE ratio of 9.21, a price-to-earnings-growth ratio of 2.53 and a beta of 0.89. MGIC Investment Corporation has a 12 month low of $20.96 and a 12 month high of $28.28. The stock has a 50 day moving average price of $25.90 and a two-hundred day moving average price of $24.75.

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

MGIC Investment Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 21st. Investors of record on Thursday, May 8th were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.85%. The ex-dividend date was Thursday, May 8th. MGIC Investment's dividend payout ratio is currently 17.28%.

MGIC Investment declared that its board has approved a share repurchase program on Thursday, April 24th that allows the company to buyback $750.00 million in shares. This buyback authorization allows the insurance provider to repurchase up to 12.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its shares are undervalued.

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.