Wealth Enhancement Advisory Services LLC Has $46.95 Million Stock Position in MGIC Investment Corporation $MTG

Key Points

• Wealth Enhancement Advisory raised its stake in MGIC to 1,621,230 shares (a 2.9% increase), valued at approximately $46.95 million and representing about 0.72% of the company per its latest SEC filing.
• Insiders have been net sellers: COO Salvatore Miosi and CEO Timothy Mattke sold shares recently, with insiders disposing of 189,203 shares worth roughly $5.06 million over the past 90 days; insiders now own about 1.41% of the stock.
• Company fundamentals and outlook: MGIC has a $5.56 billion market cap, a trailing PE of 8.24, paid a $0.15 quarterly dividend (2.3% yield), reported $0.75 EPS beating estimates, and carries a consensus analyst rating of “Hold” with a $28 price target.

Wealth Enhancement Advisory Services LLC raised its position in MGIC Investment Corporation (NYSE:MTG - Free Report) by 2.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,621,230 shares of the insurance provider's stock after buying an additional 45,267 shares during the period. Wealth Enhancement Advisory Services LLC owned 0.72% of MGIC Investment worth $46,950,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in MTG. Alps Advisors Inc. grew its position in MGIC Investment by 60.6% during the 3rd quarter. Alps Advisors Inc. now owns 701,943 shares of the insurance provider's stock worth $19,914,000 after acquiring an additional 264,968 shares during the last quarter. Lingohr Asset Management GmbH increased its holdings in MGIC Investment by 1,625.5% during the 3rd quarter. Lingohr Asset Management GmbH now owns 233,534 shares of the insurance provider's stock valued at $6,625,000 after purchasing an additional 220,000 shares in the last quarter. Thrivent Financial for Lutherans raised its position in MGIC Investment by 17.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 472,083 shares of the insurance provider's stock valued at $13,393,000 after purchasing an additional 71,474 shares during the last quarter. Moody Aldrich Partners LLC bought a new position in MGIC Investment in the 3rd quarter valued at $4,648,000. Finally, North Star Asset Management Inc. acquired a new position in MGIC Investment in the second quarter worth $375,000. 95.58% of the stock is owned by institutional investors.

MGIC Investment Trading Up 0.8%

Shares of MTG opened at $25.88 on Tuesday. The stock's fifty day simple moving average is $26.50 and its 200-day simple moving average is $27.62. The firm has a market capitalization of $5.56 billion, a PE ratio of 8.24, a price-to-earnings-growth ratio of 2.04 and a beta of 0.83. MGIC Investment Corporation has a 12-month low of $21.94 and a 12-month high of $29.97. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.13.

MGIC Investment (NYSE:MTG - Get Free Report) last announced its quarterly earnings data on Monday, February 2nd. The insurance provider reported $0.75 EPS for the quarter, topping analysts' consensus estimates of $0.73 by $0.02. MGIC Investment had a return on equity of 14.33% and a net margin of 60.84%.The business's quarterly revenue was down .9% compared to the same quarter last year. During the same period last year, the business earned $0.72 earnings per share. As a group, research analysts predict that MGIC Investment Corporation will post 2.71 earnings per share for the current year.

MGIC Investment Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 6th. Stockholders of record on Tuesday, February 17th were given a dividend of $0.15 per share. The ex-dividend date was Tuesday, February 17th. This represents a $0.60 annualized dividend and a dividend yield of 2.3%. MGIC Investment's payout ratio is currently 19.11%.

Insider Buying and Selling

In related news, COO Salvatore A. Miosi sold 30,000 shares of the stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $27.27, for a total value of $818,100.00. Following the transaction, the chief operating officer directly owned 454,245 shares in the company, valued at $12,387,261.15. This represents a 6.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Timothy J. Mattke sold 139,203 shares of the firm's stock in a transaction that occurred on Tuesday, January 13th. The shares were sold at an average price of $26.51, for a total transaction of $3,690,271.53. Following the completion of the transaction, the chief executive officer directly owned 822,588 shares in the company, valued at approximately $21,806,807.88. The trade was a 14.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 189,203 shares of company stock valued at $5,058,572 over the last ninety days. Insiders own 1.41% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently commented on MTG shares. UBS Group decreased their target price on MGIC Investment from $29.50 to $28.00 and set a "neutral" rating on the stock in a report on Thursday, March 12th. Weiss Ratings downgraded shares of MGIC Investment from a "buy (a-)" rating to a "buy (b+)" rating in a research report on Thursday, February 5th. Keefe, Bruyette & Woods increased their price objective on shares of MGIC Investment from $27.00 to $28.00 and gave the stock a "market perform" rating in a report on Thursday, December 18th. Finally, Barclays lowered their price objective on shares of MGIC Investment from $30.00 to $28.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 4th. One analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, MGIC Investment currently has an average rating of "Hold" and a consensus price target of $28.00.

MGIC Investment Company 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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