Julie K. Sperber Sells 4,600 Shares of MGIC Investment Co. (NYSE:MTG) Stock

MGIC Investment Co. (NYSE:MTG) CAO Julie K. Sperber sold 4,600 shares of the business’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $24.55, for a total value of $112,930.00. Following the transaction, the chief accounting officer now directly owns 75,070 shares of the company’s stock, valued at $1,842,968.50. This represents a 5.77 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

MGIC Investment Price Performance

MTG stock traded up $0.02 during trading on Friday, hitting $24.44. 370,831 shares of the stock traded hands, compared to its average volume of 1,635,475. The stock has a market cap of $6.19 billion, a price-to-earnings ratio of 8.43 and a beta of 1.29. MGIC Investment Co. has a one year low of $18.98 and a one year high of $26.56. The company has a current ratio of 0.48, a quick ratio of 1.25 and a debt-to-equity ratio of 0.12. The company has a 50 day simple moving average of $24.35 and a 200 day simple moving average of $24.78.

MGIC Investment (NYSE:MTG) last released its quarterly earnings results on Monday, February 3rd. The insurance provider reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.07. MGIC Investment had a return on equity of 14.86% and a net margin of 63.18%. Equities analysts expect that MGIC Investment Co. will post 2.71 EPS for the current fiscal year.

MGIC Investment Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 5th. Stockholders of record on Tuesday, February 18th will be paid a $0.13 dividend. The ex-dividend date is Tuesday, February 18th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.13%. MGIC Investment’s dividend payout ratio (DPR) is presently 17.93%.

Analysts Set New Price Targets

Several research firms recently commented on MTG. Keefe, Bruyette & Woods cut their target price on shares of MGIC Investment from $29.00 to $28.00 and set a “market perform” rating for the company in a research note on Wednesday, January 8th. Bank of America lowered MGIC Investment from a “buy” rating to an “underperform” rating and decreased their price objective for the stock from $26.00 to $25.00 in a report on Monday, December 9th. UBS Group lifted their price target on shares of MGIC Investment from $25.00 to $26.00 and gave the stock a “neutral” rating in a research note on Wednesday. Barclays increased their price objective on shares of MGIC Investment from $25.00 to $26.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 5th. Finally, Royal Bank of Canada lowered their target price on shares of MGIC Investment from $28.00 to $27.00 and set a “sector perform” rating on the stock in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $26.75.

Institutional Investors Weigh In On MGIC Investment

A number of hedge funds have recently added to or reduced their stakes in MTG. Peak Retirement Planning Inc. acquired a new position in shares of MGIC Investment during the fourth quarter worth approximately $512,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in MGIC Investment by 3.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,206,491 shares of the insurance provider’s stock worth $28,606,000 after purchasing an additional 45,448 shares during the last quarter. Squarepoint Ops LLC lifted its holdings in MGIC Investment by 423.3% during the 4th quarter. Squarepoint Ops LLC now owns 493,749 shares of the insurance provider’s stock worth $11,707,000 after buying an additional 399,397 shares in the last quarter. Two Sigma Advisers LP boosted its position in MGIC Investment by 11.0% in the 4th quarter. Two Sigma Advisers LP now owns 81,600 shares of the insurance provider’s stock valued at $1,935,000 after buying an additional 8,100 shares during the last quarter. Finally, State of Wyoming increased its stake in shares of MGIC Investment by 11.4% in the 4th quarter. State of Wyoming now owns 31,091 shares of the insurance provider’s stock valued at $737,000 after buying an additional 3,180 shares during the period. Institutional investors 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.