Aviva PLC Has $1.02 Million Stock Position in MGIC Investment Corporation $MTG

Aviva PLC raised its position in MGIC Investment Corporation (NYSE:MTG) by 41.5% during the second quarter, HoldingsChannel.com reports. The firm owned 36,574 shares of the insurance provider’s stock after buying an additional 10,727 shares during the quarter. Aviva PLC’s holdings in MGIC Investment were worth $1,018,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its holdings in shares of MGIC Investment by 4.8% during the 1st quarter. JPMorgan Chase & Co. now owns 16,162,180 shares of the insurance provider’s stock valued at $400,499,000 after buying an additional 743,212 shares during the last quarter. LSV Asset Management raised its position in MGIC Investment by 2.9% during the first quarter. LSV Asset Management now owns 10,888,437 shares of the insurance provider’s stock valued at $269,815,000 after acquiring an additional 310,095 shares in the last quarter. Allianz Asset Management GmbH lifted its stake in MGIC Investment by 40.6% in the second quarter. Allianz Asset Management GmbH now owns 5,398,356 shares of the insurance provider’s stock valued at $150,290,000 after acquiring an additional 1,557,970 shares during the last quarter. AQR Capital Management LLC grew its position in MGIC Investment by 22.5% in the first quarter. AQR Capital Management LLC now owns 3,291,645 shares of the insurance provider’s stock worth $80,481,000 after acquiring an additional 605,342 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in shares of MGIC Investment by 6.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,103,366 shares of the insurance provider’s stock worth $76,901,000 after purchasing an additional 195,895 shares during the last quarter. 95.58% of the stock is owned by hedge funds and other institutional investors.

MGIC Investment Trading Down 0.1%

Shares of MTG stock opened at $28.45 on Thursday. The firm has a market capitalization of $6.37 billion, a P/E ratio of 9.15, a price-to-earnings-growth ratio of 1.91 and a beta of 0.92. MGIC Investment Corporation has a 1 year low of $21.94 and a 1 year high of $29.01. The firm’s fifty day simple moving average is $27.77 and its 200 day simple moving average is $27.04. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.13.

MGIC Investment (NYSE:MTG) last posted its quarterly 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. The company had revenue of $304.51 million for the quarter, compared to analyst estimates of $308.16 million. MGIC Investment had a net margin of 61.96% and a return on equity of 14.63%. The business’s quarterly revenue was down .7% on a year-over-year basis. During the same period last year, the business posted $0.77 EPS. As a group, sell-side analysts predict that MGIC Investment Corporation will post 2.71 EPS for the current year.

MGIC Investment Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Thursday, November 6th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Thursday, November 6th. This represents a $0.60 annualized dividend and a yield of 2.1%. MGIC Investment’s dividend payout ratio is 19.29%.

Insiders Place Their Bets

In related news, EVP Paula C. Maggio sold 20,000 shares of the company’s stock in a transaction on Friday, October 31st. The stock was sold at an average price of $27.44, for a total value of $548,800.00. Following the completion of the transaction, the executive vice president directly owned 117,395 shares in the company, valued at approximately $3,221,318.80. This represents a 14.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Timothy J. Mattke sold 139,203 shares of MGIC Investment stock in a transaction on 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 sale, 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 position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 219,203 shares of company stock worth $5,989,909. 1.05% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on MTG. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of MGIC Investment in a research note on Wednesday, October 8th. Barclays boosted their price target on MGIC Investment from $27.00 to $28.00 and gave the stock 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 given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $26.80.

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.