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 MGIC Investment stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $24.55, for a total transaction of $112,930.00. Following the completion of the sale, the chief accounting officer now owns 75,070 shares in the company, valued at $1,842,968.50. This trade represents a 5.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

MGIC Investment Trading Down 1.9 %

Shares of MGIC Investment stock opened at $23.97 on Friday. The firm has a 50-day moving average of $24.34 and a 200-day moving average of $24.78. The stock has a market cap of $6.07 billion, a PE ratio of 8.26 and a beta of 1.29. MGIC Investment Co. has a 52-week low of $18.98 and a 52-week high of $26.56. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.25 and a current ratio of 0.48.

MGIC Investment (NYSE:MTG) last posted its quarterly earnings data on Monday, February 3rd. The insurance provider reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.07. MGIC Investment had a net margin of 63.18% and a return on equity of 14.86%. As a group, sell-side analysts forecast that MGIC Investment Co. will post 2.71 EPS for the current year.

MGIC Investment Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 5th. Investors of record on Tuesday, February 18th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $0.52 annualized dividend and a yield of 2.17%. MGIC Investment’s dividend payout ratio is 17.93%.

Analyst Upgrades and Downgrades

MTG has been the topic of a number of recent analyst reports. Bank of America downgraded shares of MGIC Investment from a “buy” rating to an “underperform” rating and lowered their target price for the stock from $26.00 to $25.00 in a report on Monday, December 9th. UBS Group boosted their target price on shares of MGIC Investment from $25.00 to $26.00 and gave the stock a “neutral” rating in a report on Wednesday. Keefe, Bruyette & Woods lowered their target price on shares of MGIC Investment from $29.00 to $28.00 and set a “market perform” rating on the stock in a report on Wednesday, January 8th. 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 report on Wednesday, November 6th. Finally, Barclays boosted their target price on shares of MGIC Investment from $25.00 to $26.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, MGIC Investment presently has a consensus rating of “Hold” and a consensus price target of $26.75.

Institutional Investors Weigh In On MGIC Investment

Institutional investors and hedge funds have recently bought and sold shares of the company. Norges Bank acquired a new position in MGIC Investment during the fourth quarter worth about $85,908,000. First Trust Advisors LP raised its stake in MGIC Investment by 22.4% during the fourth quarter. First Trust Advisors LP now owns 16,008,489 shares of the insurance provider’s stock worth $379,561,000 after acquiring an additional 2,928,595 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its stake in MGIC Investment by 292.0% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,072,629 shares of the insurance provider’s stock worth $49,142,000 after acquiring an additional 1,543,908 shares in the last quarter. BNP Paribas Financial Markets raised its stake in MGIC Investment by 259.4% during the fourth quarter. BNP Paribas Financial Markets now owns 1,105,399 shares of the insurance provider’s stock worth $26,209,000 after acquiring an additional 797,852 shares in the last quarter. Finally, Invesco Ltd. raised its stake in MGIC Investment by 16.6% during the fourth quarter. Invesco Ltd. now owns 4,766,195 shares of the insurance provider’s stock worth $113,006,000 after acquiring an additional 677,227 shares in the last quarter. 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.