Paula C. Maggio Sells 20,000 Shares of MGIC Investment Co. (NYSE:MTG) Stock

MGIC Investment Co. (NYSE:MTG - Get Free Report) EVP Paula C. Maggio sold 20,000 shares of MGIC Investment 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 transaction, the executive vice president now directly owns 157,395 shares of the company's stock, valued at approximately $4,169,393.55. This represents a 11.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

MGIC Investment Trading Down 0.3%

Shares of NYSE:MTG traded down $0.07 during midday trading on Thursday, reaching $25.99. The company's stock had a trading volume of 1,121,996 shares, compared to its average volume of 1,796,882. The firm has a market cap of $6.17 billion, a price-to-earnings ratio of 8.96 and a beta of 0.91. The company has a quick ratio of 1.25, a current ratio of 0.48 and a debt-to-equity ratio of 0.12. MGIC Investment Co. has a 1 year low of $20.35 and a 1 year high of $26.92. The business has a 50 day moving average price of $25.16 and a 200 day moving average price of $24.66.

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 analysts' consensus estimates of $0.66 by $0.09. The business had revenue of $306.23 million during the quarter, compared to the consensus estimate of $306.66 million. MGIC Investment had a return on equity of 14.86% and a net margin of 63.18%. The business's revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.65 earnings per share. Research analysts forecast that MGIC Investment Co. will post 2.71 EPS for the current year.

MGIC Investment Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 21st. Stockholders of record on Thursday, May 8th were given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date was Thursday, May 8th. MGIC Investment's dividend payout ratio is currently 17.28%.

MGIC Investment announced that its Board of Directors has approved a share buyback plan on Thursday, April 24th that allows the company to repurchase $750.00 million in shares. This repurchase authorization allows the insurance provider to buy up to 12.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's leadership believes its shares are undervalued.

Institutional Investors Weigh In On MGIC Investment

A number of hedge funds and other institutional investors have recently made changes to their positions in MTG. WPG Advisers LLC purchased a new stake in MGIC Investment during the first quarter valued at about $26,000. Cullen Frost Bankers Inc. purchased a new stake in MGIC Investment during the first quarter valued at about $33,000. Quarry LP purchased a new stake in MGIC Investment during the first quarter valued at about $38,000. Geneos Wealth Management Inc. grew its position 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. Finally, Venturi Wealth Management LLC grew its position in MGIC Investment by 102.1% during the fourth quarter. Venturi Wealth Management LLC now owns 1,817 shares of the insurance provider's stock valued at $43,000 after acquiring an additional 918 shares during the period. Hedge funds and other institutional investors own 95.58% of the company's stock.

Analyst Ratings Changes

MTG has been the subject of several recent research reports. Compass Point reissued a "neutral" rating and set a $28.00 price target (up previously from $27.00) on shares of MGIC Investment in a research report on Friday, May 23rd. Barclays raised their price target on MGIC Investment from $25.00 to $26.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 5th. UBS Group raised their price target on MGIC Investment from $25.00 to $26.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 19th. Finally, 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 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 company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price 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.