Thrivent Financial For Lutherans lowered its holdings in shares of MGIC Investment Corporation (NYSE:MTG) by 42.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 489,990 shares of the insurance provider’s stock after selling 365,470 shares during the period. Thrivent Financial For Lutherans owned about 0.13% of MGIC Investment Corporation worth $5,487,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of MGIC Investment Corporation by 8.3% during the first quarter. Vanguard Group Inc. now owns 31,633,445 shares of the insurance provider’s stock valued at $320,446,000 after acquiring an additional 2,419,831 shares during the last quarter. BlackRock Inc. raised its stake in shares of MGIC Investment Corporation by 1.6% during the second quarter. BlackRock Inc. now owns 25,319,890 shares of the insurance provider’s stock valued at $283,585,000 after acquiring an additional 397,421 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of MGIC Investment Corporation by 29.6% during the second quarter. Bank of New York Mellon Corp now owns 13,197,831 shares of the insurance provider’s stock valued at $147,815,000 after acquiring an additional 3,013,777 shares during the last quarter. State Street Corp raised its stake in shares of MGIC Investment Corporation by 7.0% during the first quarter. State Street Corp now owns 12,822,808 shares of the insurance provider’s stock valued at $129,896,000 after acquiring an additional 836,939 shares during the last quarter. Finally, LSV Asset Management raised its stake in shares of MGIC Investment Corporation by 4.1% during the second quarter. LSV Asset Management now owns 12,560,022 shares of the insurance provider’s stock valued at $140,672,000 after acquiring an additional 490,096 shares during the last quarter. 89.58% of the stock is owned by hedge funds and other institutional investors.

MGIC Investment Corporation (NYSE MTG) opened at 12.02 on Monday. The company has a market cap of $4.45 billion, a P/E ratio of 12.38 and a beta of 2.23. MGIC Investment Corporation has a 52 week low of $7.78 and a 52 week high of $12.25. The company’s 50-day moving average is $11.51 and its 200-day moving average is $11.01.

MGIC Investment Corporation (NYSE:MTG) last posted its quarterly earnings results on Thursday, July 20th. The insurance provider reported $0.31 EPS for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.06. MGIC Investment Corporation had a net margin of 34.99% and a return on equity of 16.56%. The company had revenue of $263.31 million during the quarter, compared to analyst estimates of $263.43 million. During the same period in the prior year, the business posted $0.26 EPS. The firm’s revenue was down .1% compared to the same quarter last year. On average, analysts anticipate that MGIC Investment Corporation will post $1.14 EPS for the current fiscal year.

MTG has been the subject of a number of analyst reports. 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 note on Saturday, July 22nd. ValuEngine raised shares of MGIC Investment Corporation from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 2nd. 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 for the company in a research note on Tuesday, August 22nd. Finally, Deutsche Bank AG lifted 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 note on Friday, July 21st. One 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. The company presently has a consensus rating of “Buy” and an average target price of $12.25.

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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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