198,160 MGIC Investment Corporation $MTG Shares Sold by Robeco Institutional Asset Management B.V.

by · The Markets Daily

Robeco Institutional Asset Management B.V. cut its position in MGIC Investment Corporation (NYSE:MTG – Free Report) by 14.7% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 1,152,982 shares of the insurance provider’s stock after selling 198,160 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in MGIC Investment were worth $29,793,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. CWA Asset Management Group LLC raised its position in MGIC Investment by 9.4% during the third quarter. CWA Asset Management Group LLC now owns 95,103 shares of the insurance provider’s stock worth $2,457,000 after acquiring an additional 8,158 shares in the last quarter. IFP Advisors Inc increased its stake in shares of MGIC Investment by 61.6% during the 3rd quarter. IFP Advisors Inc now owns 3,438 shares of the insurance provider’s stock worth $89,000 after purchasing an additional 1,310 shares during the last quarter. Counterpoint Mutual Funds LLC acquired a new position in shares of MGIC Investment during the 3rd quarter worth about $235,000. V Square Quantitative Management LLC increased its stake in shares of MGIC Investment by 91.2% during the 3rd quarter. V Square Quantitative Management LLC now owns 1,363 shares of the insurance provider’s stock worth $35,000 after purchasing an additional 650 shares during the last quarter. Finally, Krilogy Financial LLC raised its holdings in shares of MGIC Investment by 24.7% in the 3rd quarter. Krilogy Financial LLC now owns 17,585 shares of the insurance provider’s stock valued at $475,000 after purchasing an additional 3,487 shares during the period. 95.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Keefe, Bruyette & Woods raised their target price on shares of MGIC Investment from $29.00 to $30.00 and gave the company a “market perform” rating in a research note on Friday, July 31st. Zacks Research lowered MGIC Investment from a “strong-buy” rating to a “hold” rating in a research note on Monday. Weiss Ratings upgraded MGIC Investment from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday, August 19th. Royal Bank Of Canada raised their price objective on MGIC Investment from $28.00 to $32.00 and gave the company a “sector perform” rating in a research report on Friday, July 31st. Finally, Barclays lifted their target price on MGIC Investment from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Monday, October 5th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $30.80.

Check Out Our Latest Report on MTG

MGIC Investment Price Performance

NYSE:MTG opened at $27.71 on Friday. MGIC Investment Corporation has a one year low of $24.69 and a one year high of $31.89. The company has a market cap of $5.68 billion, a P/E ratio of 8.51, a P/E/G ratio of 0.97 and a beta of 0.67. The firm’s fifty day moving average price is $29.32 and its two-hundred day moving average price is $28.23. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.19 and a quick ratio of 1.19.

MGIC Investment (NYSE:MTG – Get Free Report) last posted its earnings results on Wednesday, July 29th. The insurance provider reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.11. The company had revenue of $295.39 million during the quarter, compared to analysts’ expectations of $297.54 million. MGIC Investment had a net margin of 59.20% and a return on equity of 13.90%. MGIC Investment’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.82 EPS. Equities analysts expect that MGIC Investment Corporation will post 3.22 earnings per share for the current year.

Insider Activity at MGIC Investment

In other MGIC Investment news, CEO Timothy Mattke sold 137,114 shares of the stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $26.23, for a total value of $3,596,500.22. Following the transaction, the chief executive officer directly owned 843,778 shares of the company’s stock, valued at $22,132,296.94. This represents a 13.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Paula Maggio sold 20,000 shares of the stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $30.30, for a total transaction of $606,000.00. Following the completion of the transaction, the executive vice president directly owned 149,620 shares in the company, valued at approximately $4,533,486. This represents a 11.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 217,114 shares of company stock worth $5,906,200. Insiders own 1.34% of the company’s stock.

MGIC Investment Company Profile

(Free Report)

MGIC Investment Corporation (NYSE:MTG) is a holding company whose principal subsidiary is Mortgage Guaranty Insurance Corporation (MGIC), a provider of private mortgage insurance in the United States. MGIC’s insurance helps protect mortgage lenders and investors against losses when borrowers default, enabling qualified homebuyers to obtain mortgages with smaller down payments.

MGIC primarily offers primary mortgage insurance for residential loans, working with mortgage lenders, banks and other housing-finance institutions.

See Also

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