Geode Capital Management LLC raised its stake in shares of MGIC Investment Corporation (NYSE:MTG) by 7.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,579,365 shares of the insurance provider’s stock after buying an additional 184,619 shares during the period. Geode Capital Management LLC owned approximately 0.76% of MGIC Investment Corporation worth $26,128,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the stock. World Asset Management Inc increased 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 valued at $123,000 after buying an additional 81 shares during the last quarter. Princeton Alpha Management LP acquired a new stake in MGIC Investment Corporation during the first quarter valued at about $127,000. Comerica Bank acquired a new stake in MGIC Investment Corporation during the fourth quarter valued at about $128,000. Paragon Capital Management Ltd acquired a new stake in MGIC Investment Corporation during the first quarter valued at about $157,000. Finally, Highbridge Capital Management LLC raised its stake in MGIC Investment Corporation by 245.7% in the fourth quarter. Highbridge Capital Management LLC now owns 17,629 shares of the insurance provider’s stock valued at $179,000 after buying an additional 29,729 shares during the last quarter. 86.54% of the stock is currently owned by institutional investors.

Shares of MGIC Investment Corporation (NYSE:MTG) traded down 1.53% during trading on Thursday, hitting $11.60. 1,549,255 shares of the stock traded hands. The company has a 50 day moving average of $11.42 and a 200-day moving average of $10.82. The company has a market cap of $4.30 billion, a PE ratio of 12.47 and a beta of 2.08. MGIC Investment Corporation has a 1-year low of $7.14 and a 1-year high of $12.25.

MGIC Investment Corporation (NYSE:MTG) last released its quarterly earnings data on Thursday, July 20th. The insurance provider reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.06. The business had revenue of $263.31 million for the quarter, compared to analyst estimates of $263.43 million. MGIC Investment Corporation had a return on equity of 17.20% and a net margin of 34.99%. MGIC Investment Corporation’s revenue was down .1% compared to the same quarter last year. During the same period last year, the firm posted $0.26 earnings per share. On average, equities analysts anticipate that MGIC Investment Corporation will post $1.13 EPS for the current fiscal year.

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A number of equities research analysts recently weighed in on MTG shares. BidaskClub lowered shares of MGIC Investment Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 23rd. Deutsche Bank AG reiterated a “buy” rating and set a $13.00 price objective (up from $12.00) on shares of MGIC Investment Corporation in a research note on Sunday, April 23rd. BTIG Research restated a “buy” rating and issued a $12.00 price target on shares of MGIC Investment Corporation in a research report on Wednesday, April 19th. 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. Finally, MKM Partners restated a “buy” rating and issued a $13.00 price target (up from $10.00) on shares of MGIC Investment Corporation in a research report on Tuesday, April 25th. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. The company currently 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.

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

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