Diversified Trust Co Has $1.52 Million Stake in MGIC Investment Corporation (NYSE:MTG)

Diversified Trust Co lifted its position in MGIC Investment Corporation (NYSE:MTG - Free Report) by 93.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 61,479 shares of the insurance provider's stock after purchasing an additional 29,759 shares during the quarter. Diversified Trust Co's holdings in MGIC Investment were worth $1,523,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of MTG. EverSource Wealth Advisors LLC increased its position in shares of MGIC Investment by 21.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,336 shares of the insurance provider's stock worth $55,000 after acquiring an additional 419 shares in the last quarter. Xponance Inc. boosted its position in MGIC Investment by 1.3% during the 4th quarter. Xponance Inc. now owns 35,320 shares of the insurance provider's stock worth $837,000 after acquiring an additional 442 shares during the last quarter. Fifth Third Bancorp boosted its stake in shares of MGIC Investment by 20.1% during the 1st quarter. Fifth Third Bancorp now owns 2,749 shares of the insurance provider's stock worth $68,000 after buying an additional 461 shares during the last quarter. NorthCrest Asset Manangement LLC increased its position in shares of MGIC Investment by 1.3% during the 1st quarter. NorthCrest Asset Manangement LLC now owns 41,718 shares of the insurance provider's stock worth $1,034,000 after purchasing an additional 524 shares during the last quarter. Finally, ProShare Advisors LLC increased its holdings in MGIC Investment by 4.9% during the fourth quarter. ProShare Advisors LLC now owns 11,854 shares of the insurance provider's stock worth $281,000 after buying an additional 553 shares during the last quarter. 95.58% of the stock is currently owned by institutional investors.

MGIC Investment Stock Performance

MGIC Investment stock traded down $0.29 during trading hours on Wednesday, hitting $27.92. The company had a trading volume of 949,737 shares, compared to its average volume of 1,836,325. The firm has a 50-day moving average of $26.36 and a 200 day moving average of $24.88. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.25 and a quick ratio of 1.25. The firm has a market cap of $6.63 billion, a PE ratio of 9.28, a PEG ratio of 2.55 and a beta of 0.89. MGIC Investment Corporation has a one year low of $21.20 and a one year high of $28.37.

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

MGIC Investment declared that its board has approved a stock repurchase plan on Thursday, April 24th that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the insurance provider to repurchase up to 12.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's management believes its shares are undervalued.

MGIC Investment Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 21st. Stockholders of record on Thursday, May 8th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date was Thursday, May 8th. MGIC Investment's dividend payout ratio (DPR) is presently 17.28%.

Insider Buying and Selling at MGIC Investment

In other MGIC Investment news, EVP Paula C. Maggio sold 20,000 shares of MGIC Investment 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 transaction, the executive vice president owned 157,395 shares in the company, valued at $4,169,393.55. The trade was a 11.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.41% of the company's stock.

Analysts Set New Price Targets

MTG has been the subject of a number of analyst reports. Compass Point reissued a "neutral" rating and issued a $28.00 price objective (up previously from $27.00) on shares of MGIC Investment in a research report on Friday, May 23rd. Keefe, Bruyette & Woods reduced their price target 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. One analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, MGIC Investment has a consensus rating of "Hold" and a consensus price target of $26.63.

About MGIC Investment

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.