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MILWAUKEE—Julie K. Sperber, Vice President and Chief Accounting Officer of MGIC Investment Corp (NYSE:MTG), recently sold 4,600 shares of the company’s common stock. The transaction, which took place on February 21, 2025, was executed at a price of $24.55 per share, totaling approximately $112,930. The sale comes as MGIC maintains a "GREAT" financial health rating according to InvestingPro analysis, with the stock trading at an attractive P/E ratio of 8.4.
Following this sale, Sperber retains ownership of 75,069.871 shares of MGIC Investment Corp. While this insider sale occurred, the company has been actively buying back shares and maintains a growing dividend program, with a 13% dividend growth over the last twelve months. The transaction was reported in a Form 4 filing with the Securities and Exchange Commission. InvestingPro analysis suggests the stock is currently undervalued, with 8 additional key insights available to subscribers.
In other recent news, MGIC Investment Corporation reported an adjusted earnings per share of $0.72 for the fourth quarter of 2024, surpassing analysts’ consensus estimate of $0.66. This earnings beat was largely due to a favorable $54 million adjustment in loss reserves. Despite these positive results, Compass Point downgraded MGIC’s stock from Buy to Neutral while raising the price target to $27.00. Keefe, Bruyette & Woods also downgraded MGIC to Market Perform from Outperform, citing valuation concerns, and set a price target of $29.00.
The company paid a $400 million dividend to its holding company, increasing its liquidity by $235 million. However, the higher interest rate environment has led to minimal growth in MGIC’s insurance in force, with only a 0.9% year-over-year increase. This trend is expected to continue into fiscal year 2025. Additionally, MGIC Board member Timothy A. Holt announced he would not seek re-election at the upcoming Annual Meeting of Shareholders in April 2025. The company has not disclosed any potential successors or changes to the board’s structure following his departure.
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