Robeco Institutional Asset Management B.V. Grows Stock Holdings in MGIC Investment Corporation (NYSE:MTG)

Robeco Institutional Asset Management B.V. boosted its holdings in MGIC Investment Corporation (NYSE:MTG - Free Report) by 1.4% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 818,783 shares of the insurance provider's stock after buying an additional 11,298 shares during the period. Robeco Institutional Asset Management B.V. owned 0.34% of MGIC Investment worth $20,289,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in MTG. Proficio Capital Partners LLC bought a new stake in shares of MGIC Investment during the fourth quarter valued at approximately $653,000. US Bancorp DE raised its holdings in shares of MGIC Investment by 6.2% during the 4th quarter. US Bancorp DE now owns 10,249 shares of the insurance provider's stock worth $243,000 after acquiring an additional 600 shares in the last quarter. Assetmark Inc. boosted its position in shares of MGIC Investment by 5.7% during the 4th quarter. Assetmark Inc. now owns 1,027,491 shares of the insurance provider's stock valued at $24,362,000 after acquiring an additional 55,059 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of MGIC Investment in the fourth quarter valued at $1,740,000. Finally, EagleClaw Capital Managment LLC increased its position in MGIC Investment by 2.7% in the fourth quarter. EagleClaw Capital Managment LLC now owns 57,800 shares of the insurance provider's stock worth $1,370,000 after purchasing an additional 1,500 shares during the last quarter. 95.58% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Paula C. Maggio sold 20,000 shares of the business's stock in a transaction that occurred on 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 owned 157,395 shares in the company, valued at approximately $4,169,393.55. The trade was a 11.27% 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. 1.41% of the stock is owned by insiders.

MGIC Investment Trading Down 1.0%

Shares of MTG traded down $0.29 during mid-day trading on Wednesday, reaching $27.92. 949,737 shares of the company's stock traded hands, compared to its average volume of 1,836,325. MGIC Investment Corporation has a 12 month low of $21.20 and a 12 month high of $28.37. 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 stock has a market cap of $6.63 billion, a P/E ratio of 9.28, a P/E/G ratio of 2.55 and a beta of 0.89. The stock's 50-day moving average is $26.36 and its two-hundred day moving average is $24.88.

MGIC Investment (NYSE:MTG - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The insurance provider reported $0.75 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 company had revenue of $306.23 million for the quarter, compared to the consensus estimate of $306.66 million. During the same quarter in the prior year, the company posted $0.65 EPS. MGIC Investment's quarterly revenue was up 4.0% on a year-over-year basis. Research analysts forecast that MGIC Investment Corporation will post 2.71 earnings per share for the current fiscal year.

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

MGIC Investment Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 21st. Investors of record on Thursday, May 8th were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.86%. The ex-dividend date of this dividend was Thursday, May 8th. MGIC Investment's dividend payout ratio is presently 17.28%.

Analyst Upgrades and Downgrades

MTG has been the topic of a number of research reports. 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. Keefe, Bruyette & Woods dropped their price target on MGIC Investment from $28.00 to $26.00 and set a "market perform" rating for the company in a research report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average 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.