SG Americas Securities LLC Purchases Shares of 18,822 MGIC Investment Corporation (NYSE:MTG)

SG Americas Securities LLC bought a new stake in MGIC Investment Corporation (NYSE:MTG - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 18,822 shares of the insurance provider's stock, valued at approximately $466,000.

Other institutional investors have also modified their holdings of the company. First Trust Advisors LP lifted its position in MGIC Investment by 22.4% in the fourth 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. LSV Asset Management lifted its holdings in shares of MGIC Investment by 2.3% in the 4th quarter. LSV Asset Management now owns 10,578,342 shares of the insurance provider's stock valued at $250,812,000 after buying an additional 235,916 shares during the period. Invesco Ltd. lifted its holdings 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 valued at $113,006,000 after buying an additional 677,227 shares during the period. Northern Trust Corp boosted its stake in shares of MGIC Investment by 6.5% in the fourth quarter. Northern Trust Corp now owns 4,524,277 shares of the insurance provider's stock valued at $107,271,000 after buying an additional 277,746 shares in the last quarter. Finally, Norges Bank acquired a new position in MGIC Investment during the fourth quarter worth $85,908,000. Institutional investors and hedge funds own 95.58% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on MTG. Keefe, Bruyette & Woods lowered 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 research note on Tuesday, April 8th. Compass Point restated a "neutral" rating and set a $28.00 target price (up from $27.00) on shares of MGIC Investment in a research report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $26.63.

Insider Buying and Selling at MGIC Investment

In related news, EVP Paula C. Maggio sold 20,000 shares of the company's stock in a transaction 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 transaction, the executive vice president now directly owns 157,395 shares in the company, valued at approximately $4,169,393.55. This represents a 11.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.05% of the stock is currently owned by insiders.

MGIC Investment Price Performance

Shares of NYSE MTG traded up $0.12 during trading on Friday, reaching $27.72. The company had a trading volume of 3,319,090 shares, compared to its average volume of 2,132,239. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.13. MGIC Investment Corporation has a twelve month low of $21.20 and a twelve month high of $28.28. The stock has a 50-day moving average price of $26.12 and a two-hundred day moving average price of $24.81. The stock has a market capitalization of $6.58 billion, a PE ratio of 9.21, a price-to-earnings-growth ratio of 2.51 and a beta of 0.89.

MGIC Investment (NYSE:MTG - Get Free Report) last released its quarterly earnings results 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 company had revenue of $306.23 million for the quarter, compared to analysts' expectations of $306.66 million. MGIC Investment had a net margin of 63.49% and a return on equity of 14.96%. The firm's revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period last year, the company earned $0.65 EPS. As a group, sell-side analysts predict that MGIC Investment Corporation will post 2.71 earnings per share for the current year.

MGIC Investment Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 21st. Shareholders of record on Thursday, May 8th were issued a $0.13 dividend. The ex-dividend date was Thursday, May 8th. This represents a $0.52 annualized dividend and a yield of 1.88%. MGIC Investment's dividend payout ratio (DPR) is presently 17.28%.

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

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.