MGIC Investment Corporation $MTG Shares Sold by Securian Asset Management Inc.

Securian Asset Management Inc. lowered its holdings in shares of MGIC Investment Corporation (NYSE:MTG) by 4.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,082 shares of the insurance provider’s stock after selling 787 shares during the period. Securian Asset Management Inc.’s holdings in MGIC Investment were worth $503,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. DekaBank Deutsche Girozentrale boosted its stake in MGIC Investment by 15.2% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 425,042 shares of the insurance provider’s stock worth $11,676,000 after purchasing an additional 55,989 shares during the period. Chicago Partners Investment Group LLC acquired a new stake in shares of MGIC Investment in the 2nd quarter worth $208,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of MGIC Investment in the 2nd quarter worth $29,139,000. Foster & Motley Inc. lifted its stake in shares of MGIC Investment by 6.7% in the 2nd quarter. Foster & Motley Inc. now owns 282,546 shares of the insurance provider’s stock worth $7,866,000 after acquiring an additional 17,710 shares during the period. Finally, Allianz Asset Management GmbH lifted its stake in shares of MGIC Investment by 40.6% in the 2nd quarter. Allianz Asset Management GmbH now owns 5,398,356 shares of the insurance provider’s stock worth $150,290,000 after acquiring an additional 1,557,970 shares during the period. Institutional investors and hedge funds own 95.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MTG. Keefe, Bruyette & Woods raised their target price on shares of MGIC Investment from $26.00 to $27.00 and gave the stock a “market perform” rating in a research note on Monday, July 7th. Weiss Ratings reiterated a “buy (a-)” rating on shares of MGIC Investment in a research note on Wednesday, October 8th. Finally, Barclays raised their price objective on shares of MGIC Investment from $27.00 to $28.00 and gave the company a “cautious” rating in a research note on Monday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, MGIC Investment presently has an average rating of “Hold” and a consensus target price of $26.83.

Insider Activity

In other MGIC Investment news, CEO Timothy J. Mattke sold 139,203 shares of the firm’s stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $26.54, for a total transaction of $3,694,447.62. Following the completion of the transaction, the chief executive officer directly owned 1,100,994 shares in the company, valued at approximately $29,220,380.76. This trade represents a 11.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Salvatore A. Miosi sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $28.15, for a total transaction of $844,500.00. Following the transaction, the chief operating officer owned 189,401 shares of the company’s stock, valued at $5,331,638.15. This trade represents a 13.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 338,406 shares of company stock valued at $9,096,557 over the last 90 days. 1.05% of the stock is currently owned by insiders.

MGIC Investment Stock Performance

NYSE:MTG opened at $27.39 on Friday. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.13. The firm has a 50-day moving average price of $27.79 and a two-hundred day moving average price of $26.66. MGIC Investment Corporation has a twelve month low of $21.94 and a twelve month high of $29.01. The company has a market capitalization of $6.31 billion, a P/E ratio of 8.98, a price-to-earnings-growth ratio of 1.98 and a beta of 0.88.

MGIC Investment (NYSE:MTG) last posted its earnings results on Wednesday, July 30th. The insurance provider reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.12. MGIC Investment had a net margin of 62.58% and a return on equity of 14.73%. The firm had revenue of $304.25 million during the quarter, compared to the consensus estimate of $306.25 million. During the same period last year, the firm posted $0.77 EPS. The firm’s revenue for the quarter was down .3% on a year-over-year basis. As a group, research analysts expect that MGIC Investment Corporation will post 2.71 earnings per share for the current fiscal year.

MGIC Investment Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Thursday, November 6th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 2.2%. The ex-dividend date is Thursday, November 6th. MGIC Investment’s dividend payout ratio (DPR) is 19.67%.

MGIC Investment Company Profile

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.