Schroder Investment Management Group purchased a new stake in shares of MGIC Investment Corp. (NYSE:MTG) during the second quarter, Holdings Channel reports. The institutional investor purchased 1,219,819 shares of the company’s stock, valued at approximately $7,258,000. Schroder Investment Management Group owned 0.36% of MGIC Investment Corp. as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the stock. Invictus RG increased its stake in MGIC Investment Corp. by 116.2% in the first quarter. Invictus RG now owns 13,322 shares of the company’s stock valued at $102,000 after buying an additional 7,160 shares during the period. Envestnet Asset Management Inc. increased its stake in MGIC Investment Corp. by 4.7% in the first quarter. Envestnet Asset Management Inc. now owns 15,217 shares of the company’s stock valued at $117,000 after buying an additional 689 shares during the period. Boothbay Fund Management LLC increased its stake in MGIC Investment Corp. by 2.0% in the first quarter. Boothbay Fund Management LLC now owns 16,808 shares of the company’s stock valued at $129,000 after buying an additional 333 shares during the period. Calvert Investment Management Inc. increased its stake in MGIC Investment Corp. by 11.2% in the second quarter. Calvert Investment Management Inc. now owns 26,919 shares of the company’s stock valued at $160,000 after buying an additional 2,718 shares during the period. Finally, Deprince Race & Zollo Inc. bought a new stake in MGIC Investment Corp. during the second quarter valued at $179,000. 90.87% of the stock is owned by hedge funds and other institutional investors.

MGIC Investment Corp. (NYSE:MTG) opened at 7.96 on Friday. The company’s 50-day moving average is $7.73 and its 200 day moving average is $7.11. MGIC Investment Corp. has a 12-month low of $5.36 and a 12-month high of $10.46. The stock has a market capitalization of $2.71 billion, a PE ratio of 3.28 and a beta of 2.79.

MGIC Investment Corp. (NYSE:MTG) last posted its earnings results on Tuesday, July 19th. The company reported $0.26 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.06. MGIC Investment Corp. had a net margin of 105.16% and a return on equity of 18.40%. The firm earned $263.50 million during the quarter, compared to analysts’ expectations of $255.01 million. During the same period last year, the company posted $0.28 EPS. On average, equities research analysts expect that MGIC Investment Corp. will post $0.84 earnings per share for the current fiscal year.

Several research firms have weighed in on MTG. Zacks Investment Research downgraded shares of MGIC Investment Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, June 21st. FBR & Co lifted their price target on shares of MGIC Investment Corp. from $7.50 to $9.00 and gave the company an “outperform” rating in a research note on Wednesday, July 20th. BTIG Research reissued a “buy” rating and set a $12.00 target price on shares of MGIC Investment Corp. in a research report on Tuesday, July 19th. MKM Partners reissued a “buy” rating on shares of MGIC Investment Corp. in a research report on Thursday, August 25th. Finally, Compass Point raised shares of MGIC Investment Corp. from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $8.50 to $9.00 in a research report on Wednesday, July 20th. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. MGIC Investment Corp. has an average rating of “Buy” and a consensus price target of $10.09.

MGIC Investment Corp. 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.

5 Day Chart for NYSE:MTG

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