MGIC Investment Co. (NYSE:MTG) Shares Sold by Caxton Associates LP

Caxton Associates LP lowered its position in shares of MGIC Investment Co. (NYSE:MTG - Free Report) by 28.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 58,719 shares of the insurance provider's stock after selling 22,996 shares during the quarter. Caxton Associates LP's holdings in MGIC Investment were worth $1,392,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Franklin Resources Inc. raised its position in shares of MGIC Investment by 6.5% in the third quarter. Franklin Resources Inc. now owns 1,621,838 shares of the insurance provider's stock valued at $41,836,000 after buying an additional 98,369 shares during the last quarter. Ritholtz Wealth Management grew its holdings in shares of MGIC Investment by 13.4% in the fourth quarter. Ritholtz Wealth Management now owns 91,690 shares of the insurance provider's stock valued at $2,174,000 after purchasing an additional 10,864 shares during the period. Janney Montgomery Scott LLC raised its position in shares of MGIC Investment by 33.5% during the 4th quarter. Janney Montgomery Scott LLC now owns 40,398 shares of the insurance provider's stock valued at $958,000 after buying an additional 10,130 shares during the period. Asset Management One Co. Ltd. raised its position in MGIC Investment by 311.0% in the fourth quarter. Asset Management One Co. Ltd. now owns 66,493 shares of the insurance provider's stock valued at $1,575,000 after purchasing an additional 50,316 shares during the period. Finally, Empowered Funds LLC acquired a new stake in shares of MGIC Investment during the 4th quarter worth about $1,166,000. 95.58% of the stock is owned by institutional investors and hedge funds.

MGIC Investment Stock Down 0.2 %

Shares of MGIC Investment stock opened at $26.04 on Tuesday. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.48 and a quick ratio of 1.25. The business has a 50-day moving average of $23.99 and a 200-day moving average of $24.42. The company has a market capitalization of $6.32 billion, a PE ratio of 8.98 and a beta of 0.93. MGIC Investment Co. has a 1-year low of $20.11 and a 1-year high of $26.56.

MGIC Investment (NYSE:MTG - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The insurance provider reported $0.75 EPS for the quarter, beating the consensus estimate of $0.66 by $0.09. The business had revenue of $306.23 million during the quarter, compared to analyst estimates of $306.66 million. MGIC Investment had a net margin of 63.18% and a return on equity of 14.86%. The company's quarterly revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.65 EPS. As a group, equities analysts forecast that MGIC Investment Co. will post 2.71 EPS for the current fiscal year.

MGIC Investment Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 21st. Shareholders of record on Thursday, May 8th will be given a dividend of $0.13 per share. The ex-dividend date is Thursday, May 8th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.00%. MGIC Investment's dividend payout ratio (DPR) is 17.28%.

MGIC Investment declared that its Board of Directors has approved a stock buyback program on Thursday, April 24th that allows the company to buyback $750.00 million in outstanding shares. This buyback authorization allows the insurance provider to reacquire up to 12.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Barclays lifted their target price on shares of MGIC Investment from $25.00 to $26.00 and gave the company an "equal weight" rating in a report on Wednesday, February 5th. Keefe, Bruyette & Woods cut their price objective on MGIC Investment from $28.00 to $26.00 and set a "market perform" rating on the stock in a research report on Tuesday, April 8th. UBS Group boosted their price target on shares of MGIC Investment from $25.00 to $26.00 and gave the stock a "neutral" rating in a report on Wednesday, February 19th. Finally, Compass Point restated a "neutral" rating and issued a $27.00 target price (up previously from $24.00) on shares of MGIC Investment in a report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $26.50.

Insiders Place Their Bets

In other MGIC Investment news, CAO Julie K. Sperber sold 4,600 shares of the firm's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $24.55, for a total transaction of $112,930.00. Following the completion of the sale, the chief accounting officer now directly owns 75,070 shares in the company, valued at approximately $1,842,968.50. This trade represents a 5.77 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.05% of the stock is currently owned by insiders.

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.

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