Robeco Institutional Asset Management B.V. lessened its stake in MGIC Investment Corporation (NYSE:MTG – Free Report) by 14.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,152,982 shares of the insurance provider’s stock after selling 198,160 shares during the period. Robeco Institutional Asset Management B.V. owned 0.56% of MGIC Investment worth $29,793,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of MTG. Elevation Wealth Partners LLC boosted its stake in shares of MGIC Investment by 345.6% in the 3rd quarter. Elevation Wealth Partners LLC now owns 1,123 shares of the insurance provider’s stock valued at $29,000 after purchasing an additional 871 shares during the last quarter. V Square Quantitative Management LLC increased its holdings in shares of MGIC Investment by 91.2% in the third quarter. V Square Quantitative Management LLC now owns 1,363 shares of the insurance provider’s stock worth $35,000 after acquiring an additional 650 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of MGIC Investment in the second quarter worth about $62,000. Harbor Investment Advisory LLC lifted its holdings in shares of MGIC Investment by 613.0% during the 2nd quarter. Harbor Investment Advisory LLC now owns 2,574 shares of the insurance provider’s stock valued at $73,000 after purchasing an additional 2,213 shares in the last quarter. Finally, Root Financial Partners LLC lifted its holdings in shares of MGIC Investment by 100.7% during the 1st quarter. Root Financial Partners LLC now owns 3,022 shares of the insurance provider’s stock valued at $79,000 after purchasing an additional 1,516 shares in the last quarter. Institutional investors own 95.58% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of analysts recently issued reports on the company. BTIG Research initiated coverage on MGIC Investment in a research note on Tuesday, September 22nd. They set a “hold” rating for the company. Royal Bank Of Canada lifted their price target on shares of MGIC Investment from $28.00 to $32.00 and gave the company a “sector perform” rating in a research note on Friday, July 31st. Weiss Ratings raised shares of MGIC Investment from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday, August 19th. Zacks Research downgraded shares of MGIC Investment from a “strong-buy” rating to a “hold” rating in a research report on Monday. Finally, Keefe, Bruyette & Woods raised their price objective on shares of MGIC Investment from $29.00 to $30.00 and gave the stock a “market perform” rating in a report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $30.80.
Get Our Latest Stock Analysis on MTG
MGIC Investment Stock Up 1.5%
NYSE:MTG opened at $27.71 on Friday. The stock has a 50-day simple moving average of $29.32 and a 200 day simple moving average of $28.23. MGIC Investment Corporation has a 52-week low of $24.69 and a 52-week high of $31.89. The company has a market cap of $5.68 billion, a PE ratio of 8.51, a PEG ratio of 0.97 and a beta of 0.67. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.19 and a current ratio of 1.19.
MGIC Investment (NYSE:MTG – Get Free Report) last released its earnings results on Wednesday, July 29th. The insurance provider reported $0.87 EPS for the quarter, beating the consensus estimate of $0.76 by $0.11. MGIC Investment had a return on equity of 13.90% and a net margin of 59.20%. The firm had revenue of $295.39 million for the quarter, compared to analysts’ expectations of $297.54 million. During the same quarter in the previous year, the business posted $0.82 EPS. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. On average, sell-side analysts expect that MGIC Investment Corporation will post 3.22 EPS for the current fiscal year.
Insider Activity
In other news, COO Salvatore Miosi sold 30,000 shares of the business’s stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $26.06, for a total value of $781,800.00. Following the sale, the chief operating officer owned 440,951 shares of the company’s stock, valued at $11,491,183.06. The trade was a 6.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Timothy Mattke sold 137,114 shares of the stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $26.23, for a total transaction of $3,596,500.22. Following the transaction, the chief executive officer owned 843,778 shares of the company’s stock, valued at $22,132,296.94. The trade was a 13.98% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 217,114 shares of company stock worth $5,906,200 over the last ninety days. Insiders own 1.34% of the company’s stock.
MGIC Investment Profile
MGIC Investment Corporation (NYSE:MTG) is a holding company whose principal subsidiary is Mortgage Guaranty Insurance Corporation (MGIC), a provider of private mortgage insurance in the United States. MGIC’s insurance helps protect mortgage lenders and investors against losses when borrowers default, enabling qualified homebuyers to obtain mortgages with smaller down payments.
MGIC primarily offers primary mortgage insurance for residential loans, working with mortgage lenders, banks and other housing-finance institutions.
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