Versor Investments LP Sells 72,807 Shares of MGIC Investment Corporation $MTG

Versor Investments LP cut its holdings in MGIC Investment Corporation (NYSE:MTG) by 89.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,293 shares of the insurance provider’s stock after selling 72,807 shares during the period. Versor Investments LP’s holdings in MGIC Investment were worth $231,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. WPG Advisers LLC purchased a new position in MGIC Investment in the first quarter worth about $26,000. Hantz Financial Services Inc. raised its position in MGIC Investment by 3,067.6% during the second quarter. Hantz Financial Services Inc. now owns 1,077 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 1,043 shares during the period. Cullen Frost Bankers Inc. bought a new stake in shares of MGIC Investment in the 1st quarter valued at approximately $33,000. Quarry LP bought a new stake in shares of MGIC Investment in the 1st quarter valued at approximately $38,000. Finally, Geneos Wealth Management Inc. boosted its holdings in shares of MGIC Investment by 88.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,745 shares of the insurance provider’s stock worth $43,000 after purchasing an additional 817 shares during the period. 95.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MTG has been the topic of several recent research reports. Weiss Ratings restated a “buy (a-)” rating on shares of MGIC Investment in a report on Wednesday, October 8th. Barclays boosted their price objective on shares of MGIC Investment from $27.00 to $28.00 and gave the company a “cautious” rating in a research report on Monday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $26.80.

Insider Activity at MGIC Investment

In other MGIC Investment news, COO Salvatore A. Miosi sold 30,000 shares of the business’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $27.52, for a total value of $825,600.00. Following the completion of the sale, the chief operating officer directly owned 159,401 shares of the company’s stock, valued at $4,386,715.52. The trade was a 15.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Timothy J. Mattke sold 139,203 shares of the company’s stock in a transaction dated Tuesday, October 7th. The stock was sold at an average price of $27.09, for a total transaction of $3,771,009.27. Following the completion of the transaction, the chief executive officer owned 961,791 shares in the company, valued at $26,054,918.19. This represents a 12.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 219,203 shares of company stock worth $5,989,909 in the last 90 days. 1.41% of the stock is owned by corporate insiders.

MGIC Investment Trading Down 1.6%

Shares of NYSE MTG opened at $27.63 on Friday. MGIC Investment Corporation has a fifty-two week low of $21.94 and a fifty-two week high of $29.01. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.46 and a current ratio of 1.46. The company has a market cap of $6.18 billion, a price-to-earnings ratio of 8.88, a PEG ratio of 1.91 and a beta of 0.92. The business’s 50 day moving average price is $27.73 and its 200-day moving average price is $26.91.

MGIC Investment (NYSE:MTG) last announced its quarterly earnings data on Wednesday, October 29th. The insurance provider reported $0.83 EPS for the quarter, beating the consensus estimate of $0.72 by $0.11. MGIC Investment had a return on equity of 14.63% and a net margin of 61.96%.The company had revenue of $304.51 million for the quarter, compared to the consensus estimate of $308.16 million. During the same quarter in the prior year, the company posted $0.77 EPS. MGIC Investment’s quarterly revenue was down .7% on a year-over-year basis. On average, sell-side analysts expect that MGIC Investment Corporation will post 2.71 earnings per share for the current year.

MGIC Investment Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Thursday, November 6th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Thursday, November 6th. MGIC Investment’s dividend payout ratio (DPR) is currently 19.29%.

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.