WINTON GROUP Ltd Purchases Shares of 51,601 MGIC Investment Corp. (NYSE:MTG)

WINTON GROUP Ltd purchased a new stake in MGIC Investment Corp. (NYSE:MTG) in the 2nd quarter, Holdings Channel.com reports. The fund purchased 51,601 shares of the insurance provider’s stock, valued at approximately $678,000.

Other institutional investors and hedge funds have also modified their holdings of the company. PNC Financial Services Group Inc. raised its holdings in MGIC Investment by 3,345.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,445 shares of the insurance provider’s stock valued at $36,000 after acquiring an additional 3,345 shares during the last quarter. Advisor Group Inc. raised its holdings in MGIC Investment by 16.5% in the 4th quarter. Advisor Group Inc. now owns 10,777 shares of the insurance provider’s stock valued at $111,000 after acquiring an additional 1,526 shares during the last quarter. Mercer Global Advisors Inc. ADV acquired a new position in MGIC Investment in the 1st quarter valued at $114,000. Piedmont Investment Advisors Inc. acquired a new position in MGIC Investment in the 1st quarter valued at $148,000. Finally, Parametrica Management Ltd raised its holdings in MGIC Investment by 32.0% in the 1st quarter. Parametrica Management Ltd now owns 18,159 shares of the insurance provider’s stock valued at $240,000 after acquiring an additional 4,398 shares during the last quarter. Institutional investors own 92.14% of the company’s stock.

MTG has been the subject of several analyst reports. ValuEngine downgraded Welbilt from a “hold” rating to a “sell” rating in a report on Friday. Zacks Investment Research downgraded Goosehead Insurance from a “buy” rating to a “hold” rating in a report on Monday. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $16.56.

Shares of NYSE MTG traded up $0.06 during trading on Tuesday, hitting $13.07. 99,669 shares of the company traded hands, compared to its average volume of 4,778,931. MGIC Investment Corp. has a 1 year low of $9.41 and a 1 year high of $14.97. The stock has a 50-day moving average of $13.49. The company has a market cap of $4.66 billion, a price-to-earnings ratio of 7.35, a P/E/G ratio of 1.50 and a beta of 1.64. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.37 and a quick ratio of 0.37.

MGIC Investment (NYSE:MTG) last announced its quarterly earnings data on Tuesday, July 23rd. The insurance provider reported $0.46 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.05. MGIC Investment had a net margin of 56.84% and a return on equity of 18.05%. The company had revenue of $292.30 million during the quarter, compared to analysts’ expectations of $295.03 million. During the same period in the previous year, the company earned $0.49 EPS. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. On average, research analysts predict that MGIC Investment Corp. will post 1.7 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, August 30th will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $0.24 annualized dividend and a dividend yield of 1.84%.

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 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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Institutional Ownership by Quarter for MGIC Investment (NYSE:MTG)

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