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

MGIC Investment Co. (NYSE:MTG - Get Free Report) CAO Julie K. Sperber sold 4,600 shares of the company's stock in a transaction 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 transaction, the chief accounting officer now owns 75,070 shares of the company's stock, valued at $1,842,968.50. This trade represents a 5.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

MGIC Investment Stock Performance

MTG traded up $0.20 during trading hours on Tuesday, hitting $24.08. 1,971,484 shares of the stock were exchanged, compared to its average volume of 1,701,080. The stock has a market cap of $6.10 billion, a price-to-earnings ratio of 8.30 and a beta of 1.29. The stock has a 50-day simple moving average of $24.32 and a 200-day simple moving average of $24.80. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.48 and a quick ratio of 1.25. MGIC Investment Co. has a 12 month low of $19.15 and a 12 month high of $26.56.

MGIC Investment (NYSE:MTG - Get Free Report) last announced its quarterly earnings data on Monday, February 3rd. The insurance provider reported $0.72 earnings per share for the quarter, beating analysts' consensus estimates of $0.65 by $0.07. MGIC Investment had a net margin of 63.18% and a return on equity of 14.86%. Analysts anticipate that MGIC Investment Co. will post 2.71 earnings per share for the current year.

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MGIC Investment Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 5th. Stockholders of record on Tuesday, February 18th will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date of this dividend is Tuesday, February 18th. MGIC Investment's payout ratio is 17.93%.

Institutional Trading of MGIC Investment

Hedge funds have recently made changes to their positions in the stock. CWM LLC lifted its stake in MGIC Investment by 116.1% in the third quarter. CWM LLC now owns 5,495 shares of the insurance provider's stock valued at $141,000 after buying an additional 2,952 shares during the last quarter. Creative Planning increased its holdings in shares of MGIC Investment by 17.9% in the 3rd quarter. Creative Planning now owns 21,128 shares of the insurance provider's stock worth $541,000 after acquiring an additional 3,204 shares during the period. Blue Trust Inc. lifted its position in MGIC Investment by 184.2% in the 3rd quarter. Blue Trust Inc. now owns 14,169 shares of the insurance provider's stock valued at $363,000 after purchasing an additional 9,184 shares during the last quarter. Private Advisor Group LLC acquired a new position in MGIC Investment during the 3rd quarter valued at about $253,000. Finally, DekaBank Deutsche Girozentrale grew its position in MGIC Investment by 1.4% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 425,042 shares of the insurance provider's stock worth $10,719,000 after purchasing an additional 6,065 shares during the last quarter. Institutional investors own 95.58% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. UBS Group upped their price objective on shares of MGIC Investment from $25.00 to $26.00 and gave the company a "neutral" rating in a research report on Wednesday, February 19th. Barclays increased their price target on MGIC Investment from $25.00 to $26.00 and gave the company an "equal weight" rating in a report on Wednesday, February 5th. Royal Bank of Canada dropped their price objective on MGIC Investment from $28.00 to $27.00 and set a "sector perform" rating on the stock in a report on Wednesday, November 6th. Keefe, Bruyette & Woods reduced their target price on 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. Finally, Compass Point reissued a "neutral" rating and set a $27.00 price target (up previously from $24.00) on shares of MGIC Investment in a research report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $26.75.

MGIC Investment Company 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.