Savant Capital LLC Acquires 35,669 Shares of MGIC Investment Corporation $MTG

Savant Capital LLC boosted its holdings in shares of MGIC Investment Corporation (NYSE:MTG) by 327.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 46,555 shares of the insurance provider’s stock after buying an additional 35,669 shares during the period. Savant Capital LLC’s holdings in MGIC Investment were worth $1,296,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in MTG. Cerity Partners LLC increased its holdings in MGIC Investment by 59.2% during the 1st quarter. Cerity Partners LLC now owns 78,307 shares of the insurance provider’s stock worth $1,940,000 after purchasing an additional 29,104 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of MGIC Investment by 4.2% in the first quarter. PNC Financial Services Group Inc. now owns 10,894 shares of the insurance provider’s stock valued at $270,000 after purchasing an additional 437 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new position in shares of MGIC Investment during the second quarter valued at approximately $568,000. GSA Capital Partners LLP bought a new stake in MGIC Investment during the first quarter worth $1,353,000. Finally, Private Advisor Group LLC purchased a new stake in MGIC Investment in the 1st quarter valued at $238,000. 95.58% of the stock is owned by institutional investors.

MGIC Investment Trading Down 0.1%

Shares of MGIC Investment stock opened at $28.45 on Thursday. The firm has a market cap of $6.37 billion, a PE ratio of 9.15, a P/E/G 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 company has a debt-to-equity ratio of 0.13, a current ratio of 1.46 and a quick ratio of 1.46. The stock has a fifty day moving average price of $27.77 and a 200-day moving average price of $27.04.

MGIC Investment (NYSE:MTG) last posted its quarterly earnings results on Wednesday, October 29th. The insurance provider reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.11. The company had revenue of $304.51 million during 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 firm’s revenue for the quarter was down .7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.77 earnings per share. Equities research analysts anticipate that MGIC Investment Corporation will post 2.71 EPS 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 issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Thursday, November 6th. MGIC Investment’s payout ratio is 19.29%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of MGIC Investment in a report on Wednesday, October 8th. Barclays raised their price target 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 equities research analyst has rated the stock with a Strong Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $26.80.

Insider Activity at MGIC Investment

In other news, COO Salvatore A. Miosi sold 30,000 shares of the company’s stock in a transaction 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 owned 189,401 shares of the company’s stock, valued at $5,331,638.15. This represents a 13.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Timothy J. Mattke sold 139,203 shares of MGIC Investment stock in a transaction dated Tuesday, October 7th. The stock was sold at an average price of $27.09, for a total value of $3,771,009.27. Following the completion of the sale, the chief executive officer directly owned 961,791 shares of the company’s stock, valued at approximately $26,054,918.19. This trade represents a 12.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 219,203 shares of company stock worth $5,989,909. Insiders own 1.05% of the company’s stock.

MGIC Investment 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.