MGIC Investment Corp. (NYSE:MTG) released its quarterly earnings data on Tuesday. The company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.06. MGIC Investment Corp. had a net margin of 105.16% and a return on equity of 18.40%.

Shares of MGIC Investment Corp. (NYSE:MTG) opened at 8.03 on Tuesday. MGIC Investment Corp. has a 52 week low of $5.36 and a 52 week high of $9.90. The stock’s 50 day moving average is $8.03 and its 200-day moving average is $7.19. The stock has a market capitalization of $2.74 billion, a price-to-earnings ratio of 3.31 and a beta of 2.68.

Earnings History for MGIC Investment Corp. (NYSE:MTG)

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Pacer Advisors Inc. acquired a new position in shares of MGIC Investment Corp. during the second quarter worth about $106,000. Stevens Capital Management LP acquired a new position in shares of MGIC Investment Corp. during the second quarter worth about $114,000. State of Tennessee Treasury Department acquired a new position in shares of MGIC Investment Corp. during the second quarter worth about $119,000. BlueMountain Capital Management LLC acquired a new position in shares of MGIC Investment Corp. during the second quarter worth about $188,000. Finally, TFS Capital LLC acquired a new position in shares of MGIC Investment Corp. during the second quarter worth about $204,000. Hedge funds and other institutional investors own 90.85% of the company’s stock.

Several research firms have recently issued reports on MTG. Zacks Investment Research upgraded shares of MGIC Investment Corp. from a “hold” rating to a “strong-buy” rating and set a $9.50 price objective on the stock in a research report on Tuesday, September 13th. MKM Partners restated a “buy” rating on shares of MGIC Investment Corp. in a research report on Thursday, August 25th. Keefe, Bruyette & Woods boosted their price target on shares of MGIC Investment Corp. from $9.00 to $9.50 and gave the stock an “outperform” rating in a research report on Tuesday, October 4th. Bank of America Corp. started coverage on shares of MGIC Investment Corp. in a research report on Monday. They issued a “buy” rating on the stock. Finally, FBR & Co restated an “outperform” rating on shares of MGIC Investment Corp. in a research report on Friday, September 23rd. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. MGIC Investment Corp. has a consensus rating of “Buy” and a consensus target price of $9.78.

About MGIC Investment Corp.

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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