Rhumbline Advisers increased its position in MGIC Investment Corporation (NYSE:MTG) by 6.6% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 496,083 shares of the insurance provider’s stock after buying an additional 30,678 shares during the period. Rhumbline Advisers owned 0.13% of MGIC Investment Corporation worth $5,556,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in MTG. Teacher Retirement System of Texas boosted its stake in MGIC Investment Corporation by 1.5% in the second quarter. Teacher Retirement System of Texas now owns 27,369 shares of the insurance provider’s stock worth $307,000 after buying an additional 407 shares during the last quarter. DekaBank Deutsche Girozentrale raised its position in shares of MGIC Investment Corporation by 21.1% in the second quarter. DekaBank Deutsche Girozentrale now owns 170,100 shares of the insurance provider’s stock worth $1,895,000 after buying an additional 29,600 shares during the period. Appleton Group LLC acquired a new position in shares of MGIC Investment Corporation during the second quarter worth about $119,000. Schwab Charles Investment Management Inc. raised its position in shares of MGIC Investment Corporation by 1.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 2,307,408 shares of the insurance provider’s stock worth $25,843,000 after buying an additional 35,978 shares during the period. Finally, Canada Pension Plan Investment Board raised its position in shares of MGIC Investment Corporation by 162.7% in the second quarter. Canada Pension Plan Investment Board now owns 77,500 shares of the insurance provider’s stock worth $868,000 after buying an additional 48,000 shares during the period. 89.86% of the stock is currently owned by institutional investors.

MGIC Investment Corporation (NYSE:MTG) opened at 11.34 on Thursday. MGIC Investment Corporation has a 52-week low of $7.78 and a 52-week high of $12.25. The stock has a market capitalization of $4.20 billion, a price-to-earnings ratio of 11.68 and a beta of 2.08. The company has a 50-day moving average of $11.64 and a 200-day moving average of $10.95.

MGIC Investment Corporation (NYSE:MTG) last issued its quarterly earnings data on Thursday, July 20th. The insurance provider reported $0.31 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $263.31 million during the quarter, compared to the consensus estimate of $263.43 million. During the same quarter in the previous year, the company posted $0.26 EPS. The business’s revenue for the quarter was down .1% compared to the same quarter last year. Equities research analysts expect that MGIC Investment Corporation will post $1.13 EPS for the current year.

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A number of equities analysts have recently issued reports on MTG shares. BidaskClub upgraded shares of MGIC Investment Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, June 14th. BTIG Research restated a “buy” rating and set a $14.00 target price (up from $12.00) on shares of MGIC Investment Corporation in a research report on Saturday, July 22nd. Deutsche Bank AG raised their target price on shares of MGIC Investment Corporation from $13.00 to $13.50 and gave the stock a “buy” rating in a research report on Friday, July 21st. Zacks Investment Research upgraded 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 report on Tuesday, August 22nd. Finally, ValuEngine upgraded shares of MGIC Investment Corporation from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 2nd. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. MGIC Investment Corporation presently has an average rating of “Buy” and an average target price of $11.90.

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.

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

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