Venturi Wealth Management LLC Boosts Stake in MGIC Investment Co. (NYSE:MTG)

Venturi Wealth Management LLC raised its stake in shares of MGIC Investment Co. (NYSE:MTG) by 102.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,817 shares of the insurance provider’s stock after purchasing an additional 918 shares during the period. Venturi Wealth Management LLC’s holdings in MGIC Investment were worth $43,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. State Street Corp raised its position in MGIC Investment by 0.8% during the third quarter. State Street Corp now owns 9,092,453 shares of the insurance provider’s stock valued at $232,767,000 after purchasing an additional 73,851 shares during the period. Franklin Resources Inc. raised its position in MGIC Investment by 6.5% during the third quarter. Franklin Resources Inc. now owns 1,621,838 shares of the insurance provider’s stock valued at $41,836,000 after purchasing an additional 98,369 shares during the period. Vest Financial LLC raised its position in MGIC Investment by 33.4% during the fourth quarter. Vest Financial LLC now owns 1,485,140 shares of the insurance provider’s stock valued at $35,213,000 after purchasing an additional 371,882 shares during the period. Robeco Institutional Asset Management B.V. raised its position in MGIC Investment by 1.1% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 807,485 shares of the insurance provider’s stock valued at $19,145,000 after purchasing an additional 9,031 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec purchased a new stake in MGIC Investment during the third quarter valued at approximately $13,535,000. 95.58% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at MGIC Investment

In other news, CAO Julie K. Sperber sold 4,600 shares of the stock in a transaction on Friday, February 21st. The stock was 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 approximately $1,842,968.50. This represents a 5.77 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.05% of the company’s stock.

MGIC Investment Stock Up 0.8 %

Shares of NYSE:MTG opened at $24.08 on Wednesday. MGIC Investment Co. has a 52-week low of $19.15 and a 52-week high of $26.56. The stock has a market cap of $6.10 billion, a P/E ratio of 8.30 and a beta of 1.29. The business’s 50 day moving average is $24.32 and its 200 day moving average is $24.81. The company has a quick ratio of 1.25, a current ratio of 0.48 and a debt-to-equity ratio of 0.12.

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

MGIC Investment Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 5th. Shareholders of record on Tuesday, February 18th will be given a dividend of $0.13 per share. The ex-dividend date is Tuesday, February 18th. This represents a $0.52 annualized dividend and a yield of 2.16%. MGIC Investment’s dividend payout ratio (DPR) is presently 17.93%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on MTG. Compass Point restated a “neutral” rating and set a $27.00 price objective (up from $24.00) on shares of MGIC Investment in a research report on Wednesday, February 5th. Royal Bank of Canada cut their target price on 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. Keefe, Bruyette & Woods cut their target price on MGIC Investment from $29.00 to $28.00 and set a “market perform” rating on the stock in a research note on Wednesday, January 8th. Bank of America cut MGIC Investment from a “buy” rating to an “underperform” rating and cut their target price for the company from $26.00 to $25.00 in a research note on Monday, December 9th. Finally, UBS Group upped their target price on MGIC Investment from $25.00 to $26.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, MGIC Investment currently has a consensus rating of “Hold” and an average price target of $26.75.

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.