Zacks Investment Management raised its stake in MGIC Investment Corporation (NYSE:MTG) by 29.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 67,252 shares of the insurance provider’s stock after acquiring an additional 15,312 shares during the quarter. Zacks Investment Management’s holdings in MGIC Investment Corporation were worth $753,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. World Asset Management Inc boosted its stake in shares of MGIC Investment Corporation by 0.7% in the 1st quarter. World Asset Management Inc now owns 12,157 shares of the insurance provider’s stock valued at $123,000 after purchasing an additional 81 shares in the last quarter. Gotham Asset Management LLC grew its holdings in shares of MGIC Investment Corporation by 0.9% during the 1st quarter. Gotham Asset Management LLC now owns 38,583 shares of the insurance provider’s stock valued at $391,000 after purchasing an additional 338 shares during the last quarter. Teacher Retirement System of Texas grew its holdings in shares of MGIC Investment Corporation by 1.5% during the 2nd quarter. Teacher Retirement System of Texas now owns 27,369 shares of the insurance provider’s stock valued at $307,000 after purchasing an additional 407 shares during the last quarter. Fiera Capital Corp grew its holdings in shares of MGIC Investment Corporation by 3.6% during the 2nd quarter. Fiera Capital Corp now owns 23,955 shares of the insurance provider’s stock valued at $268,000 after purchasing an additional 825 shares during the last quarter. Finally, Comerica Bank grew its holdings in shares of MGIC Investment Corporation by 8.8% during the 2nd quarter. Comerica Bank now owns 13,806 shares of the insurance provider’s stock valued at $163,000 after purchasing an additional 1,111 shares during the last quarter. 89.58% of the stock is owned by hedge funds and other institutional investors.

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Several brokerages recently commented on MTG. BTIG Research reissued a “buy” rating and issued a $14.00 price objective (up previously from $12.00) on shares of MGIC Investment Corporation in a research note on Saturday, July 22nd. BidaskClub raised shares of MGIC Investment Corporation from a “hold” rating to a “buy” rating in a research note on Friday, August 18th. Zacks Investment Research raised shares of MGIC Investment Corporation from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a research note on Tuesday, August 22nd. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $13.00 target price on shares of MGIC Investment Corporation in a research note on Thursday, August 31st. Finally, Deutsche Bank AG upped their price target on shares of MGIC Investment Corporation from $13.00 to $13.50 and gave the stock a “buy” rating in a report on Friday, July 21st. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $12.25.

MGIC Investment Corporation (NYSE MTG) opened at 12.52 on Wednesday. The firm has a market capitalization of $4.64 billion, a PE ratio of 12.89 and a beta of 2.16. The firm has a 50-day moving average of $11.67 and a 200 day moving average of $11.13. MGIC Investment Corporation has a 12 month low of $7.78 and a 12 month high of $12.65.

MGIC Investment Corporation (NYSE:MTG) last issued its earnings results on Thursday, July 20th. The insurance provider reported $0.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.06. The business had revenue of $263.31 million during the quarter, compared to analyst estimates of $263.43 million. MGIC Investment Corporation had a return on equity of 16.56% and a net margin of 34.99%. MGIC Investment Corporation’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.26 earnings per share. Equities research analysts forecast that MGIC Investment Corporation will post $1.14 earnings per share for the current year.

About MGIC Investment Corporation

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.

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

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