Militia Capital Partners LP Makes New Investment in MGIC Investment Corporation $MTG

Key Points

• Militia Capital Partners LP made a significant investment in MGIC Investment Corporation, purchasing 30,000 shares valued at approximately $743,000 during the first quarter.
• MGIC Investment recently announced a quarterly dividend increase to $0.15 per share, up from $0.13, reflecting positive growth opportunities for investors.
• The company reported earnings of $0.82 per share for the last quarter, surpassing analysts' expectations, and its current market capitalization stands at $6.67 billion.

Militia Capital Partners LP bought a new position in MGIC Investment Corporation (NYSE:MTG - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The firm bought 30,000 shares of the insurance provider's stock, valued at approximately $743,000.

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

Insiders Place Their Bets

In related news, COO Salvatore A. Miosi sold 30,000 shares of the company's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $26.22, for a total value of $786,600.00. Following the transaction, the chief operating officer owned 249,401 shares in the company, valued at $6,539,294.22. The trade was a 10.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Timothy J. Mattke sold 139,203 shares of the stock in a transaction dated 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 directly owned 1,100,994 shares in the company, valued at $29,220,380.76. This trade represents a 11.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.41% of the stock is currently owned by insiders.

MGIC Investment Stock Up 0.3%

Shares of MTG stock traded up $0.07 during mid-day trading on Wednesday, reaching $27.95. 721,902 shares of the company's stock traded hands, compared to its average volume of 2,100,478. The company's 50-day moving average price is $26.98 and its 200-day moving average price is $25.92. The company has a market cap of $6.44 billion, a P/E ratio of 9.16, a P/E/G ratio of 2.02 and a beta of 0.89. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.13. MGIC Investment Corporation has a 12 month low of $21.94 and a 12 month high of $28.98.

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

MGIC Investment Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 7th were given a dividend of $0.15 per share. This is a boost 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 dividend on an annualized basis and a yield of 2.1%. MGIC Investment's dividend payout ratio is 19.67%.

Analysts Set New Price Targets

Several research firms recently issued reports on MTG. Barclays raised 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 target on MGIC Investment from $26.00 to $27.00 and gave the company a "market perform" rating in a research report on Monday, July 7th. Finally, Compass Point reiterated a "neutral" rating and issued a $28.00 price objective (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 company. According to MarketBeat, MGIC Investment currently has a consensus rating of "Reduce" and an average price target of $26.67.

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.