Russell Investments Group Ltd. cut its stake in MGIC Investment Corporation (NYSE:MTG) by 2.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,162,052 shares of the insurance provider’s stock after selling 25,160 shares during the period. Russell Investments Group Ltd. owned approximately 0.31% of MGIC Investment Corporation worth $13,015,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Highbridge Capital Management LLC raised its stake in 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 raised its stake in 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. raised its stake in 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 raised its stake in 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 stake in MGIC Investment Corporation during the first quarter valued at about $412,000. 86.64% of the stock is owned by institutional investors.

Shares of MGIC Investment Corporation (NYSE MTG) traded down 0.44% during midday trading on Friday, reaching $11.33. 1,795,546 shares of the company’s stock were exchanged. The company’s 50-day moving average is $11.54 and its 200-day moving average is $10.88. The stock has a market cap of $4.20 billion, a P/E ratio of 11.67 and a beta of 2.08. MGIC Investment Corporation has a one year low of $7.43 and a one year high of $12.25.

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

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