IFC Holdings Incorporated FL purchased a new stake in shares of MGIC Investment Corporation (NYSE:MTG) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 210,000 shares of the insurance provider’s stock, valued at approximately $2,352,000. IFC Holdings Incorporated FL owned approximately 0.06% of MGIC Investment Corporation at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Highbridge Capital Management LLC increased its position in shares of MGIC Investment Corporation by 245.7% in the fourth quarter. Highbridge Capital Management LLC now owns 17,629 shares of the insurance provider’s stock valued at $179,000 after buying an additional 29,729 shares in the last quarter. Bank of Montreal Can increased its position in shares of MGIC Investment Corporation by 19.5% in the first quarter. Bank of Montreal Can now owns 167,820 shares of the insurance provider’s stock valued at $1,700,000 after buying an additional 27,389 shares in the last quarter. Graybill Bartz & Assoc Ltd. increased its position in shares of MGIC Investment Corporation by 2.8% in the first quarter. Graybill Bartz & Assoc Ltd. now owns 390,297 shares of the insurance provider’s stock valued at $3,954,000 after buying an additional 10,567 shares in the last quarter. Reliance Trust Co. of Delaware increased its position in shares of MGIC Investment Corporation by 52.7% in the first quarter. Reliance Trust Co. of Delaware now owns 22,965 shares of the insurance provider’s stock valued at $233,000 after buying an additional 7,930 shares in the last quarter. Finally, James Investment Research Inc. purchased a new position in shares of MGIC Investment Corporation during the first quarter valued at about $412,000. 86.64% of the stock is owned by hedge funds and other institutional investors.

MGIC Investment Corporation (MTG) opened at 11.33 on Friday. The company has a market capitalization of $4.20 billion, a P/E ratio of 11.67 and a beta of 2.08. MGIC Investment Corporation has a 52 week low of $7.43 and a 52 week high of $12.25. The firm has a 50 day moving average of $11.54 and a 200-day moving average of $10.88.

MGIC Investment Corporation (NYSE:MTG) last posted its earnings results on Thursday, July 20th. The insurance provider reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.06. The firm had revenue of $263.31 million during the quarter, compared to analysts’ expectations of $263.43 million. MGIC Investment Corporation had a net margin of 34.99% and a return on equity of 16.56%. The business’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.26 earnings per share. On average, analysts forecast that MGIC Investment Corporation will post $1.13 earnings per share for the current year.

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Several equities analysts recently issued reports on MTG shares. BTIG Research reissued a “buy” rating and set a $12.00 price target on shares of MGIC Investment Corporation in a report on Wednesday, April 19th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $13.00 target price (up from $12.00) on shares of MGIC Investment Corporation in a research note on Sunday, April 23rd. MKM Partners reaffirmed a “buy” rating and issued a $13.00 target price (up from $10.00) on shares of MGIC Investment Corporation in a research note on Tuesday, April 25th. Zacks Investment Research downgraded shares of MGIC Investment Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, May 11th. Finally, ValuEngine raised shares of MGIC Investment Corporation from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 2nd. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. MGIC Investment Corporation has an average rating of “Buy” and a consensus target price of $11.80.

MGIC Investment Corporation Company Profile

MGIC Investment Corporation is a holding company. The Company, through its subsidiaries, provides private mortgage insurance and ancillary services. The Company provides mortgage insurance to lenders throughout the United States and to government-sponsored entities to protect against loss from defaults on low down payment residential mortgage loans.

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

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