Seizert Capital Partners LLC Makes New Investment in MGIC Investment Corporation $MTG

Seizert Capital Partners LLC bought a new position in shares of MGIC Investment Corporation (NYSE:MTG - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 34,766 shares of the insurance provider's stock, valued at approximately $968,000.

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A number of other large investors have also added to or reduced their stakes in the business. WPG Advisers LLC bought a new position in MGIC Investment during the first quarter worth $26,000. True Wealth Design LLC grew its stake in MGIC Investment by 262.5% in the 2nd quarter. True Wealth Design LLC now owns 1,004 shares of the insurance provider's stock valued at $28,000 after buying an additional 727 shares during the last quarter. Hantz Financial Services Inc. grew its stake in MGIC Investment by 3,067.6% in the 2nd quarter. Hantz Financial Services Inc. now owns 1,077 shares of the insurance provider's stock valued at $30,000 after buying an additional 1,043 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in MGIC Investment by 118.0% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,308 shares of the insurance provider's stock valued at $36,000 after acquiring an additional 708 shares during the period. Finally, Quarry LP acquired a new stake in MGIC Investment during the first quarter worth approximately $38,000. Institutional investors own 95.58% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on MTG. Barclays upped their target price on MGIC Investment from $27.00 to $28.00 and gave the company a "cautious" rating in a research report on Monday, October 6th. Weiss Ratings reiterated a "buy (a-)" rating on shares of MGIC Investment in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $26.80.

Check Out Our Latest Research Report on MGIC Investment

MGIC Investment Price Performance

Shares of NYSE MTG opened at $27.84 on Thursday. The business has a fifty day moving average price of $27.72 and a two-hundred day moving average price of $27.14. The stock has a market capitalization of $6.23 billion, a PE ratio of 8.95, a P/E/G ratio of 1.91 and a beta of 0.92. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.46 and a quick ratio of 1.46. MGIC Investment Corporation has a fifty-two week low of $21.94 and a fifty-two week high of $29.01.

MGIC Investment (NYSE:MTG - Get Free Report) last issued its quarterly earnings results on Wednesday, October 29th. The insurance provider reported $0.83 EPS for the quarter, topping analysts' consensus estimates of $0.72 by $0.11. MGIC Investment had a return on equity of 14.63% and a net margin of 61.96%.The company had revenue of $304.51 million for the quarter, compared to analysts' expectations of $308.16 million. During the same quarter last year, the business earned $0.77 earnings per share. MGIC Investment's revenue was down .7% on a year-over-year basis. As a group, equities analysts predict that MGIC Investment Corporation will post 2.71 earnings per share for the current fiscal year.

MGIC Investment Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Thursday, November 6th will be given a $0.15 dividend. The ex-dividend date is Thursday, November 6th. This represents a $0.60 annualized dividend and a dividend yield of 2.2%. MGIC Investment's payout ratio is presently 19.29%.

Insider Transactions at MGIC Investment

In other MGIC Investment news, COO Salvatore A. Miosi sold 30,000 shares of the firm's stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $27.52, for a total value of $825,600.00. Following the sale, the chief operating officer owned 159,401 shares of the company's stock, valued at approximately $4,386,715.52. This trade represents a 15.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Timothy J. Mattke sold 139,203 shares of MGIC Investment stock in a transaction dated Tuesday, October 7th. The shares were sold at an average price of $27.09, for a total value of $3,771,009.27. Following the completion of the transaction, the chief executive officer owned 961,791 shares in the company, valued at approximately $26,054,918.19. This represents a 12.64% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 219,203 shares of company stock valued at $5,989,909. Company 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.

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