Militia Capital Partners LP Invests $743,000 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 stake in shares of MGIC Investment Corporation (NYSE:MTG - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 30,000 shares of the insurance provider's stock, valued at approximately $743,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Strs Ohio purchased a new position in MGIC Investment during the first quarter valued at $2,988,000. Geneos Wealth Management Inc. raised its holdings in MGIC Investment by 88.0% during the first quarter. Geneos Wealth Management Inc. now owns 1,745 shares of the insurance provider's stock valued at $43,000 after acquiring an additional 817 shares during the period. Jane Street Group LLC increased its holdings in shares of MGIC Investment by 5,891.9% in the first quarter. Jane Street Group LLC now owns 1,373,050 shares of the insurance provider's stock worth $34,024,000 after purchasing an additional 1,350,135 shares during the last quarter. Bayforest Capital Ltd increased its holdings in shares of MGIC Investment by 95.8% in the first quarter. Bayforest Capital Ltd now owns 10,654 shares of the insurance provider's stock worth $264,000 after purchasing an additional 5,214 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of MGIC Investment by 2.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,239,395 shares of the insurance provider's stock worth $30,712,000 after purchasing an additional 32,904 shares during the last quarter. 95.58% of the stock is currently owned by hedge funds and other institutional investors.

MGIC Investment Stock Up 1.9%

Shares of NYSE:MTG opened at $28.92 on Friday. MGIC Investment Corporation has a 1 year low of $21.94 and a 1 year high of $28.98. The business has a 50 day simple moving average of $26.96 and a two-hundred day simple moving average of $25.83. The firm has a market capitalization of $6.67 billion, a PE ratio of 9.48, a price-to-earnings-growth ratio of 2.05 and a beta of 0.89. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.46 and a quick ratio of 1.46.

MGIC Investment (NYSE:MTG - Get Free Report) last announced its earnings results on Wednesday, July 30th. The insurance provider reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business earned $0.77 earnings per share. The company's revenue for the quarter was down .3% compared to the same quarter last year. On average, equities analysts predict that MGIC Investment Corporation will post 2.71 EPS for the current year.

MGIC Investment Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 7th were issued a $0.15 dividend. The ex-dividend date was Thursday, August 7th. This is a positive change from MGIC Investment's previous quarterly dividend of $0.13. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.1%. MGIC Investment's dividend payout ratio (DPR) is presently 19.67%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Compass Point reissued a "neutral" rating and set a $28.00 price objective (up from $27.00) on shares of MGIC Investment in a research note on Friday, May 23rd. Barclays boosted their price objective 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. Finally, Keefe, Bruyette & Woods boosted their price objective on MGIC Investment from $26.00 to $27.00 and gave the stock a "market perform" rating in a research note on Monday, July 7th. Five equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, MGIC Investment currently has an average rating of "Reduce" and a consensus target price of $26.67.

Insider Buying and Selling

In related news, COO Salvatore A. Miosi sold 30,000 shares of the business's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $26.22, for a total value of $786,600.00. Following the completion of the sale, the chief operating officer owned 249,401 shares in the company, valued at approximately $6,539,294.22. The trade was a 10.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Timothy J. Mattke sold 139,203 shares of the business's stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $26.54, for a total value of $3,694,447.62. Following the completion of the sale, the chief executive officer owned 1,100,994 shares of the company's stock, valued at $29,220,380.76. The trade was a 11.22% decrease in their position. The disclosure for this sale can be found here. 1.05% of the stock is currently owned by insiders.

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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