IFC Holdings Incorporated FL acquired a new position in shares of MGIC Investment Corporation (NYSE:MTG) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 210,000 shares of the insurance provider’s stock, valued at approximately $2,352,000.

A number of other hedge funds and other institutional investors have also modified their holdings of MTG. Fox Run Management L.L.C. acquired a new position in shares of MGIC Investment Corporation during the second quarter worth about $116,000. Appleton Group LLC acquired a new position in shares of MGIC Investment Corporation during the second quarter worth about $119,000. World Asset Management Inc raised its position in shares of MGIC Investment Corporation by 0.7% in the first quarter. World Asset Management Inc now owns 12,157 shares of the insurance provider’s stock worth $123,000 after buying an additional 81 shares during the period. Princeton Alpha Management LP acquired a new position in shares of MGIC Investment Corporation during the first quarter worth about $127,000. Finally, Eagle Global Advisors LLC acquired a new position in shares of MGIC Investment Corporation during the second quarter worth about $146,000. Institutional investors and hedge funds own 86.64% of the company’s stock.

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

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

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A number of analysts have weighed in on MTG shares. BidaskClub downgraded shares of MGIC Investment Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 23rd. BTIG Research reissued a “buy” rating and set a $14.00 target price (up previously from $12.00) on shares of MGIC Investment Corporation in a research report on Saturday, July 22nd. Deutsche Bank AG reissued a “buy” rating and set a $13.00 target price (up previously from $12.00) on shares of MGIC Investment Corporation in a research report on Sunday, April 23rd. MKM Partners reissued a “buy” rating and set a $13.00 target price (up previously from $10.00) on shares of MGIC Investment Corporation in a research report on Tuesday, April 25th. Finally, Zacks Investment Research downgraded shares of MGIC Investment Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, May 11th. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The stock 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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