Universal Beteiligungs und Servicegesellschaft mbH Boosts Position in MGIC Investment Corporation $MTG

Universal Beteiligungs und Servicegesellschaft mbH boosted its holdings in shares of MGIC Investment Corporation (NYSE:MTG - Free Report) by 10.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 737,489 shares of the insurance provider's stock after buying an additional 72,654 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH owned 0.33% of MGIC Investment worth $21,564,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Alpine Bank Wealth Management purchased a new position in MGIC Investment during the 3rd quarter worth approximately $28,000. Newbridge Financial Services Group Inc. purchased a new position in MGIC Investment during the 3rd quarter worth approximately $28,000. SBI Securities Co. Ltd. increased its holdings in shares of MGIC Investment by 61.1% during the 3rd quarter. SBI Securities Co. Ltd. now owns 1,041 shares of the insurance provider's stock valued at $30,000 after purchasing an additional 395 shares in the last quarter. V Square Quantitative Management LLC purchased a new position in shares of MGIC Investment during the 4th quarter valued at approximately $36,000. Finally, Root Financial Partners LLC purchased a new position in shares of MGIC Investment during the 3rd quarter valued at approximately $38,000. 95.58% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at MGIC Investment

In related news, CEO Timothy J. Mattke sold 139,202 shares of MGIC Investment stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $26.49, for a total value of $3,687,460.98. Following the sale, the chief executive officer owned 1,118,005 shares of the company's stock, valued at approximately $29,615,952.45. This trade represents a 11.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Paula C. Maggio sold 20,000 shares of MGIC Investment stock in a transaction on Friday, February 6th. The shares were sold at an average price of $27.51, for a total transaction of $550,200.00. Following the completion of the sale, the executive vice president directly owned 114,689 shares in the company, valued at $3,155,094.39. This represents a 14.85% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 200,133 shares of company stock valued at $5,342,700. 1.34% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on MTG shares. UBS Group cut their target price on shares of MGIC Investment from $29.50 to $28.00 and set a "neutral" rating for the company in a report on Thursday, March 12th. Keefe, Bruyette & Woods lifted their target price on shares of MGIC Investment from $28.00 to $29.00 and gave the company a "market perform" rating in a report on Friday, April 10th. Barclays lifted their target price on shares of MGIC Investment from $28.00 to $29.00 and gave the company an "equal weight" rating in a report on Monday, April 6th. Finally, Weiss Ratings lowered shares of MGIC Investment from a "buy (a-)" rating to a "buy (b+)" rating in a report on Thursday, February 5th. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, MGIC Investment presently has a consensus rating of "Hold" and an average target price of $28.50.

MGIC Investment Price Performance

NYSE:MTG opened at $28.66 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.52 and a quick ratio of 1.52. The firm has a market cap of $6.16 billion, a price-to-earnings ratio of 9.13, a price-to-earnings-growth ratio of 2.29 and a beta of 0.79. The company has a 50 day moving average price of $26.71 and a 200-day moving average price of $27.44. MGIC Investment Corporation has a 1-year low of $24.14 and a 1-year high of $29.97.

MGIC Investment (NYSE:MTG - Get Free Report) last released its quarterly earnings results on Monday, February 2nd. The insurance provider reported $0.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.73 by $0.02. MGIC Investment had a net margin of 60.84% and a return on equity of 14.33%. During the same period in the previous year, the company posted $0.72 EPS. The firm's quarterly revenue was down .9% compared to the same quarter last year. Equities research analysts forecast that MGIC Investment Corporation will post 3.08 EPS for the current year.

MGIC Investment announced that its board has initiated a share repurchase plan on Thursday, April 23rd that authorizes the company to repurchase $750.00 million in outstanding shares. This repurchase authorization authorizes the insurance provider to buy up to 12.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board believes its shares are undervalued.

MGIC Investment Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 21st. Investors of record on Wednesday, May 6th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, May 6th. This represents a $0.60 dividend on an annualized basis and a yield of 2.1%. MGIC Investment's dividend payout ratio (DPR) is currently 19.11%.

MGIC Investment Profile

MGIC Investment Corporation NYSE: MTG is a leading provider of private mortgage insurance in the United States. Established in 1957 as the nation's first private mortgage insurer, MGIC helps lenders manage credit risk and facilitates homeownership by protecting mortgage loans against default. Headquartered in Milwaukee, Wisconsin, the company operates through its principal subsidiary, Mortgage Guaranty Insurance Corporation, and maintains relationships with a broad network of originators and servicers nationwide.

The company's primary business activity involves issuing mortgage insurance policies that enable borrowers to purchase homes with down payments below traditional lending thresholds.

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