First Trust Advisors LP lowered its stake in shares of MGIC Investment Corporation (NYSE:MTG) by 6.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 317,382 shares of the insurance provider’s stock after selling 21,246 shares during the period. First Trust Advisors LP owned approximately 0.09% of MGIC Investment Corporation worth $3,555,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in MTG. BlackRock Inc. raised its holdings in shares of MGIC Investment Corporation by 26,215.6% during the first quarter. BlackRock Inc. now owns 24,922,469 shares of the insurance provider’s stock valued at $252,464,000 after purchasing an additional 24,827,763 shares during the period. MARSHALL WACE ASIA Ltd acquired a new position in shares of MGIC Investment Corporation during the first quarter valued at about $52,793,000. Macquarie Group Ltd. raised its holdings in shares of MGIC Investment Corporation by 2,892.3% during the first quarter. Macquarie Group Ltd. now owns 3,207,711 shares of the insurance provider’s stock valued at $32,494,000 after purchasing an additional 3,100,511 shares during the period. Vanguard Group Inc. raised its holdings in shares of MGIC Investment Corporation by 8.3% during the first quarter. Vanguard Group Inc. now owns 31,633,445 shares of the insurance provider’s stock valued at $320,446,000 after purchasing an additional 2,419,831 shares during the period. Finally, Point72 Asset Management L.P. raised its holdings in shares of MGIC Investment Corporation by 80.7% during the first quarter. Point72 Asset Management L.P. now owns 4,431,500 shares of the insurance provider’s stock valued at $44,891,000 after purchasing an additional 1,979,600 shares during the period. Hedge funds and other institutional investors own 89.85% of the company’s stock.

MTG has been the topic of several research reports. ValuEngine upgraded shares of MGIC Investment Corporation from a “buy” rating to a “strong-buy” rating in a report on Friday, June 2nd. Zacks Investment Research upgraded shares of MGIC Investment Corporation from a “hold” rating to a “buy” rating and set a $13.00 price objective on the stock in a report on Tuesday, August 22nd. BidaskClub upgraded shares of MGIC Investment Corporation from a “hold” rating to a “buy” rating in a report on Friday, August 18th. Deutsche Bank AG upped their price objective on shares of MGIC Investment Corporation from $13.00 to $13.50 and gave the company a “buy” rating in a report on Friday, July 21st. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and set a $13.00 price objective on shares of MGIC Investment Corporation in a report on Thursday. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $12.25.

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Shares of MGIC Investment Corporation (MTG) opened at 11.40 on Monday. The company has a market capitalization of $4.22 billion, a P/E ratio of 11.74 and a beta of 2.23. The stock’s 50 day moving average is $11.61 and its 200 day moving average is $10.96. MGIC Investment Corporation has a 52-week low of $7.78 and a 52-week high of $12.25.

MGIC Investment Corporation (NYSE:MTG) last issued its quarterly earnings results on Thursday, July 20th. The insurance provider reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.06. MGIC Investment Corporation had a net margin of 34.99% and a return on equity of 16.56%. The company had revenue of $263.31 million during the quarter, compared to analysts’ expectations of $263.43 million. During the same period last year, the company posted $0.26 EPS. MGIC Investment Corporation’s revenue was down .1% on a year-over-year basis. Equities analysts expect that MGIC Investment Corporation will post $1.14 EPS for the current year.

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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