Mercer Global Advisors Inc. ADV Sells 1,258 Shares of MGIC Investment Co. (NYSE:MTG)

Mercer Global Advisors Inc. ADV decreased its stake in shares of MGIC Investment Co. (NYSE:MTG) by 7.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 16,372 shares of the insurance provider’s stock after selling 1,258 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in MGIC Investment were worth $388,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. UMB Bank n.a. increased its holdings in shares of MGIC Investment by 131.9% during the 4th quarter. UMB Bank n.a. now owns 1,649 shares of the insurance provider’s stock worth $39,000 after purchasing an additional 938 shares during the period. Venturi Wealth Management LLC boosted its position in shares of MGIC Investment by 102.1% during the 4th quarter. Venturi Wealth Management LLC now owns 1,817 shares of the insurance provider’s stock valued at $43,000 after acquiring an additional 918 shares in the last quarter. V Square Quantitative Management LLC boosted its position in shares of MGIC Investment by 61.9% during the 4th quarter. V Square Quantitative Management LLC now owns 2,077 shares of the insurance provider’s stock valued at $49,000 after acquiring an additional 794 shares in the last quarter. Physician Wealth Advisors Inc. acquired a new stake in shares of MGIC Investment during the 4th quarter valued at about $54,000. Finally, EverSource Wealth Advisors LLC boosted its position in shares of MGIC Investment by 21.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,336 shares of the insurance provider’s stock valued at $55,000 after acquiring an additional 419 shares in the last quarter. Institutional investors own 95.58% of the company’s stock.

Insider Transactions at MGIC Investment

In other news, CAO Julie K. Sperber sold 4,600 shares of the company’s 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 transaction, the chief accounting officer now directly owns 75,070 shares in the company, valued at approximately $1,842,968.50. This represents a 5.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.05% of the stock is owned by company insiders.

Analysts Set New Price Targets

MTG has been the topic of several recent research reports. Keefe, Bruyette & Woods decreased their target price on shares of MGIC Investment from $28.00 to $26.00 and set a “market perform” rating on the stock in a research report on Tuesday, April 8th. Barclays lifted their target price on shares of MGIC Investment from $25.00 to $26.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 5th. UBS Group lifted their target price 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. Finally, Compass Point reiterated a “neutral” rating and set a $27.00 target price (up from $24.00) on shares of MGIC Investment in a research report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $26.50.

MGIC Investment Price Performance

NYSE:MTG opened at $26.21 on Thursday. The firm has a market cap of $6.22 billion, a PE ratio of 9.04 and a beta of 0.91. MGIC Investment Co. has a 12 month low of $20.11 and a 12 month high of $26.91. The company has a quick ratio of 1.25, a current ratio of 0.48 and a debt-to-equity ratio of 0.12. The company’s 50-day moving average price is $24.31 and its two-hundred day moving average price is $24.48.

MGIC Investment (NYSE:MTG) last released its quarterly earnings results on Wednesday, April 30th. The insurance provider reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.09. MGIC Investment had a net margin of 63.18% and a return on equity of 14.86%. The firm had revenue of $306.23 million for the quarter, compared to analyst estimates of $306.66 million. During the same period in the previous year, the business earned $0.65 earnings per share. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. On average, equities analysts anticipate that MGIC Investment Co. will post 2.71 EPS for the current fiscal year.

MGIC Investment declared that its Board of Directors has initiated a share buyback program on Thursday, April 24th that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the insurance provider to repurchase up to 12.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its shares are undervalued.

MGIC Investment Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 21st. Stockholders of record on Thursday, May 8th will be given a dividend of $0.13 per share. The ex-dividend date is Thursday, May 8th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.98%. MGIC Investment’s payout ratio is 17.28%.

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.