MGIC Investment Corporation (NYSE:MTG) Receives Consensus Recommendation of “Hold” from Analysts

Shares of MGIC Investment Corporation (NYSE:MTG) have been given a consensus recommendation of “Hold” by the six analysts that are covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a strong buy rating on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $26.80.

Several equities research analysts have recently commented on the company. Weiss Ratings reissued a “buy (a-)” rating on shares of MGIC Investment in a report on Wednesday, October 8th. Barclays upped their price target on shares of MGIC Investment from $27.00 to $28.00 and gave the stock a “cautious” rating in a research report on Monday, October 6th.

MGIC Investment Price Performance

Shares of NYSE MTG opened at $27.99 on Wednesday. The stock has a market capitalization of $6.26 billion, a price-to-earnings ratio of 9.00, a PEG ratio of 1.91 and a beta of 0.92. The business has a 50-day moving average of $27.74 and a 200-day moving average of $26.98. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.46 and a quick ratio of 1.46. MGIC Investment has a fifty-two week low of $21.94 and a fifty-two week high of $29.01.

MGIC Investment (NYSE:MTG) last released its earnings results on Wednesday, October 29th. The insurance provider reported $0.83 earnings per share (EPS) for the quarter, topping 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 business had revenue of $304.51 million for the quarter, compared to analyst estimates of $308.16 million. During the same quarter in the prior year, the company posted $0.77 earnings per share. MGIC Investment’s revenue was down .7% on a year-over-year basis. As a group, sell-side analysts predict that MGIC Investment will post 2.71 earnings per share for the current fiscal year.

MGIC Investment Announces Dividend

The company also recently announced 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 2.1%. The ex-dividend date is Thursday, November 6th. MGIC Investment’s dividend payout ratio (DPR) is 19.29%.

Insider Transactions at MGIC Investment

In related news, COO Salvatore A. Miosi sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $28.15, for a total transaction of $844,500.00. Following the transaction, the chief operating officer directly owned 189,401 shares of the company’s stock, valued at approximately $5,331,638.15. The trade was a 13.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Timothy J. Mattke sold 139,203 shares of the firm’s stock in a transaction on Tuesday, October 7th. The shares were sold at an average price of $27.09, for a total value of $3,771,009.27. Following the sale, the chief executive officer directly owned 961,791 shares of the company’s stock, valued at $26,054,918.19. This represents a 12.64% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 219,203 shares of company stock worth $5,989,909. 1.05% of the stock is owned by company insiders.

Institutional Trading of MGIC Investment

Hedge funds and other institutional investors have recently bought and sold shares of the business. SBI Securities Co. Ltd. grew its position in shares of MGIC Investment by 61.1% during the 3rd quarter. SBI Securities Co. Ltd. now owns 1,041 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 395 shares in the last quarter. EP Wealth Advisors LLC boosted its stake in shares of MGIC Investment by 0.9% in the first quarter. EP Wealth Advisors LLC now owns 45,481 shares of the insurance provider’s stock valued at $1,127,000 after buying an additional 398 shares during the period. Brooklyn Investment Group grew its position in MGIC Investment by 15.5% during the first quarter. Brooklyn Investment Group now owns 3,094 shares of the insurance provider’s stock worth $77,000 after buying an additional 416 shares in the last quarter. Signaturefd LLC raised its holdings in MGIC Investment by 1.9% in the 1st quarter. Signaturefd LLC now owns 22,112 shares of the insurance provider’s stock valued at $548,000 after acquiring an additional 421 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in shares of MGIC Investment by 4.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 10,894 shares of the insurance provider’s stock valued at $270,000 after acquiring an additional 437 shares during the period. Institutional investors and hedge funds own 95.58% of the company’s stock.

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.