Northwestern Mutual Wealth Management Co. acquired a new position in shares of MGIC Investment Corporation (NYSE:MTG) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 30,000 shares of the insurance provider’s stock, valued at approximately $336,000.

A number of other institutional investors also recently bought and sold shares of the stock. World Asset Management Inc increased its position in MGIC Investment Corporation by 0.7% during the 1st quarter. World Asset Management Inc now owns 12,157 shares of the insurance provider’s stock worth $123,000 after purchasing an additional 81 shares in the last quarter. Gotham Asset Management LLC boosted its stake in MGIC Investment Corporation by 0.9% in the 1st quarter. Gotham Asset Management LLC now owns 38,583 shares of the insurance provider’s stock worth $391,000 after buying an additional 338 shares during the last quarter. Teacher Retirement System of Texas boosted its stake in MGIC Investment Corporation by 1.5% in the 2nd 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. Comerica Bank boosted its stake in MGIC Investment Corporation by 8.8% in the 2nd quarter. Comerica Bank now owns 13,806 shares of the insurance provider’s stock worth $163,000 after buying an additional 1,111 shares during the last quarter. Finally, First Midwest Bank Trust Division boosted its stake in MGIC Investment Corporation by 2.4% in the 2nd quarter. First Midwest Bank Trust Division now owns 54,448 shares of the insurance provider’s stock worth $610,000 after buying an additional 1,256 shares during the last quarter. Hedge funds and other institutional investors own 89.85% of the company’s stock.

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A number of brokerages have issued reports on MTG. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $13.00 price target on shares of MGIC Investment Corporation in a research note on Thursday, August 31st. Zacks Investment Research raised MGIC Investment Corporation from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a research note on Tuesday, August 22nd. BidaskClub raised MGIC Investment Corporation from a “hold” rating to a “buy” rating in a research note on Friday, August 18th. BTIG Research reissued a “buy” rating and issued a $14.00 price target (up from $12.00) on shares of MGIC Investment Corporation in a research note on Saturday, July 22nd. Finally, Deutsche Bank AG raised their price target on 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 analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. MGIC Investment Corporation has a consensus rating of “Buy” and a consensus price target of $12.25.

MGIC Investment Corporation (NYSE MTG) opened at 11.70 on Friday. The firm has a market capitalization of $4.34 billion, a price-to-earnings ratio of 12.05 and a beta of 2.23. The stock has a 50 day moving average price of $11.49 and a 200 day moving average price of $10.99. MGIC Investment Corporation has a 1-year low of $7.78 and a 1-year high of $12.25.

MGIC Investment Corporation (NYSE:MTG) last posted its quarterly earnings results 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 firm 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 16.56% and a net margin of 34.99%. MGIC Investment Corporation’s quarterly revenue was down .1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.26 earnings per share. Analysts predict that MGIC Investment Corporation will post $1.14 EPS for the current year.

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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