ProShare Advisors LLC lessened its holdings in shares of MGIC Investment Corporation (NYSE:MTG) by 3.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 85,810 shares of the insurance provider’s stock after selling 3,238 shares during the period. ProShare Advisors LLC’s holdings in MGIC Investment Corporation were worth $961,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in MTG. Fox Run Management L.L.C. acquired a new position in MGIC Investment Corporation during the second quarter worth $116,000. Appleton Group LLC acquired a new position in MGIC Investment Corporation during the second quarter worth $119,000. Advisors Asset Management Inc. acquired a new position in MGIC Investment Corporation during the second quarter worth $121,000. World Asset Management Inc grew its holdings in MGIC Investment Corporation by 0.7% during the first quarter. World Asset Management Inc now owns 12,157 shares of the insurance provider’s stock worth $123,000 after acquiring an additional 81 shares during the period. Finally, Eagle Global Advisors LLC acquired a new position in MGIC Investment Corporation during the second quarter worth $146,000. 89.58% of the stock is currently owned by hedge funds and other institutional investors.

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Shares of MGIC Investment Corporation (NYSE:MTG) opened at 12.53 on Friday. The stock has a 50 day moving average price of $11.51 and a 200 day moving average price of $11.01. The stock has a market capitalization of $4.64 billion, a P/E ratio of 12.90 and a beta of 2.23. 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 quarterly earnings results on Thursday, July 20th. The insurance provider reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.06. MGIC Investment Corporation had a return on equity of 16.56% and a net margin of 34.99%. The company had revenue of $263.31 million for the quarter, compared to analysts’ expectations of $263.43 million. During the same period last year, the firm earned $0.26 EPS. The firm’s revenue for the quarter was down .1% on a year-over-year basis. On average, analysts anticipate that MGIC Investment Corporation will post $1.14 EPS for the current fiscal year.

A number of research analysts recently weighed in on the company. BidaskClub raised MGIC Investment Corporation from a “hold” rating to a “buy” rating in a report on Friday, August 18th. Zacks Investment Research raised 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. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $13.00 price objective on shares of MGIC Investment Corporation in a report on Thursday, August 31st. BTIG Research reaffirmed a “buy” rating and set a $14.00 price objective (up previously from $12.00) on shares of MGIC Investment Corporation in a report on Saturday, July 22nd. Finally, Deutsche Bank AG upped their target price on MGIC Investment Corporation from $13.00 to $13.50 and gave the company a “buy” rating in a report on Friday, July 21st. One 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. MGIC Investment Corporation has an average rating of “Buy” and a consensus price target of $12.25.

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.

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

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