Westport Asset Management Inc. purchased a new position in shares of MGIC Investment Corporation (NYSE:MTG – Free Report) during the second quarter, HoldingsChannel.com reports. The fund purchased 439,013 shares of the insurance provider’s stock, valued at approximately $12,380,000. MGIC Investment accounts for approximately 5.0% of Westport Asset Management Inc.’s holdings, making the stock its 4th largest position.
Several other hedge funds and other institutional investors have also recently made changes to their positions in MTG. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in MGIC Investment during the 1st quarter worth $2,397,000. Goldman Sachs Group Inc. raised its stake in MGIC Investment by 6.7% in the first quarter. Goldman Sachs Group Inc. now owns 3,103,366 shares of the insurance provider’s stock valued at $76,901,000 after buying an additional 195,895 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings in MGIC Investment by 88.0% in the first quarter. Geneos Wealth Management Inc. now owns 1,745 shares of the insurance provider’s stock worth $43,000 after acquiring an additional 817 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in MGIC Investment in the second quarter worth about $425,000. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in MGIC Investment by 18.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,211 shares of the insurance provider’s stock worth $145,000 after acquiring an additional 830 shares in the last quarter. Hedge funds and other institutional investors own 95.58% of the company’s stock.
Key Stories Impacting MGIC Investment
Here are the key news stories impacting MGIC Investment this week:
- Positive Sentiment: Zacks raised its FY2026 EPS forecast to $3.21 from $3.09, bringing the estimate in line with the broader consensus. The firm also increased its Q2 2027 forecast to $0.82 from $0.79, Q2 2028 to $0.90 from $0.83, and FY2028 to $3.23 from $3.22.
- Neutral Sentiment: The revisions are mixed rather than a broad change in the earnings outlook. Zacks now projects FY2028 EPS of $3.23, compared with the current-year consensus estimate of $3.24, while the company’s valuation remains relatively low at about 9.7 times earnings. MTG’s shares are also trading near their 12-month high, which may limit the immediate reaction to modest estimate changes.
- Negative Sentiment: Zacks lowered several quarterly forecasts, including Q3 2026 EPS to $0.77 from $0.78, Q4 2026 to $0.81 from $0.82, Q3 2027 to $0.81 from $0.83, Q4 2027 to $0.83 from $0.85, and Q1 2028 to $0.83 from $0.84. These reductions suggest some near- and medium-term earnings pressure despite the higher full-year 2026 forecast.
Wall Street Analyst Weigh In
Insider Buying and Selling at MGIC Investment
In related news, EVP Paula C. Maggio sold 20,000 shares of the firm’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $30.30, for a total transaction of $606,000.00. Following the completion of the transaction, the executive vice president owned 149,620 shares of the company’s stock, valued at $4,533,486. This trade represents a 11.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Salvatore A. Miosi sold 30,000 shares of the firm’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $25.38, for a total transaction of $761,400.00. Following the transaction, the chief operating officer directly owned 560,951 shares of the company’s stock, valued at approximately $14,236,936.38. This trade represents a 5.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 70,937 shares of company stock worth $1,902,340 over the last ninety days. Insiders own 1.34% of the company’s stock.
MGIC Investment Trading Down 0.6%
MGIC Investment stock opened at $30.94 on Thursday. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.13. MGIC Investment Corporation has a 52 week low of $24.69 and a 52 week high of $31.89. The company has a market capitalization of $6.35 billion, a price-to-earnings ratio of 9.67, a price-to-earnings-growth ratio of 0.79 and a beta of 0.66. The stock has a 50-day moving average price of $28.80 and a 200 day moving average price of $27.35.
MGIC Investment (NYSE:MTG – Get Free Report) last issued its earnings results on Wednesday, July 29th. The insurance provider reported $0.87 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $297.54 million. During the same quarter in the prior year, the firm earned $0.82 earnings per share. MGIC Investment’s revenue for the quarter was down 2.9% on a year-over-year basis. Sell-side analysts anticipate that MGIC Investment Corporation will post 3.24 EPS for the current year.
MGIC Investment Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Wednesday, August 5th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 2.2%. The ex-dividend date is Wednesday, August 5th. This is a positive change from MGIC Investment’s previous quarterly dividend of $0.15. MGIC Investment’s dividend payout ratio (DPR) is presently 21.25%.
MGIC Investment declared that its board has authorized a share buyback plan on Thursday, April 23rd that authorizes the company to buyback $750.00 million in shares. This buyback authorization authorizes the insurance provider to buy up to 12.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.
About MGIC Investment
MGIC Investment Corporation (NYSE: MTG) is a leading provider of private mortgage insurance in the United States. Established in 1957 as the nation’s first private mortgage insurer, MGIC helps lenders manage credit risk and facilitates homeownership by protecting mortgage loans against default. Headquartered in Milwaukee, Wisconsin, the company operates through its principal subsidiary, Mortgage Guaranty Insurance Corporation, and maintains relationships with a broad network of originators and servicers nationwide.
The company’s primary business activity involves issuing mortgage insurance policies that enable borrowers to purchase homes with down payments below traditional lending thresholds.
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