Insider Trading to Track: MGIC Investment Corp (MTG)

MGIC Investment Corp (NYSE:MTG) insider has recently participated in insider trading activity. Director, CARR CASSANDRA C bought 5,000 shares for $31,743 via one transaction Feb 09. Another notable insider trading was done by Mackey Stephen C on Jan 28, who is the EVP – Chief Risk Officer of the company. The insider acquired 5,000 shares at an average price of $6.43. Moreover, an insider buying of 10,000 shares was carried out by Hughes James J., SVP-Sales & Bus. Development at the company, on Jan 28. Following the transaction, the insider now owns 64,645 shares in total. SVP-Chief Information Officer, Chi Gregory A. bought 10,000 shares for $63,600 through one transaction Jan 28. Following this sale, this insider’s stake in the company comprises 204,060 shares, priced at $1383526.8 as of Friday.

The stock has experienced a total of 27 insider trades in the past three months. These trades include 8 sell activities and 19 buy trades. Furthermore, over the past 12 months, the stock was traded 43 times by insiders. In 20 of these trades, the insider was a seller while an employee of the company was the buyer in twenty three instances.

MGIC Investment Corp (MTG) on January 21, 2016 reported net income for the quarter ended December 31, 2015 of $102.4 million, or $0.24 per diluted share, including the $11.5 million impact relating to an adjustment to the reversal of the Company’s deferred tax asset valuation allowance in the third quarter of 2015.  Excluding the impact of the adjustment to the deferred tax asset valuation allowance reversal, adjusted net income for the fourth quarter of 2015, would have been $113.9 million, or $0.26 per diluted share, compared with net income of $75.1 million, or $0.19 per diluted share for the same quarter a year ago.  Net income for the full year 2015 was $1,172.0 million, or $2.60 per diluted share, including the $686.7 million impact relating to the reversal of the Company’s deferred tax asset valuation allowance.  Excluding the impact of the deferred tax asset valuation allowance reversal, adjusted net income for the full year 2015, would have been $485.3 million, or $1.13 per diluted share, compared with net income of $251.9 million, or $0.64 per diluted share for the full year 2014.  We are presenting a non-GAAP financial measure “Adjusted net income” to increase the comparability between periods of our financial results.

Total revenues for the fourth quarter were $257.9 million, compared with $240.4 million in the fourth quarter last year. Net premiums written for the quarter were $241.1 million, compared with $227.7 million for the same period last year. Net premiums written for the full year 2015 were $1,020.3 million, compared with $882.0 million for the full year 2014.