Teachers Retirement System of The State of Kentucky lowered its position in MGIC Investment Corporation (NYSE:MTG) by 3.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 110,513 shares of the insurance provider’s stock after selling 4,030 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in MGIC Investment Corporation were worth $1,238,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Parametric Portfolio Associates LLC boosted its holdings in MGIC Investment Corporation by 3.8% in the second quarter. Parametric Portfolio Associates LLC now owns 936,675 shares of the insurance provider’s stock worth $10,491,000 after acquiring an additional 34,234 shares in the last quarter. Nordea Investment Management AB boosted its holdings in MGIC Investment Corporation by 105.5% in the second quarter. Nordea Investment Management AB now owns 1,009,745 shares of the insurance provider’s stock worth $11,309,000 after acquiring an additional 518,404 shares in the last quarter. Sawgrass Asset Management LLC bought a new position in MGIC Investment Corporation in the second quarter worth approximately $123,000. Vanguard Group Inc. boosted its holdings in MGIC Investment Corporation by 9.9% in the second quarter. Vanguard Group Inc. now owns 34,753,956 shares of the insurance provider’s stock worth $389,244,000 after acquiring an additional 3,120,511 shares in the last quarter. Finally, Brant Point Investment Management LLC boosted its holdings in MGIC Investment Corporation by 7.7% in the second quarter. Brant Point Investment Management LLC now owns 532,543 shares of the insurance provider’s stock worth $5,964,000 after acquiring an additional 38,043 shares in the last quarter. Institutional investors and hedge funds own 89.58% of the company’s stock.

MGIC Investment Corporation (MTG) opened at 12.47 on Friday. MGIC Investment Corporation has a 12-month low of $7.84 and a 12-month high of $12.65. The company has a market cap of $4.62 billion, a price-to-earnings ratio of 12.84 and a beta of 2.16. The stock has a 50 day moving average price of $11.75 and a 200-day moving average price of $11.16.

MGIC Investment Corporation (NYSE:MTG) last issued its quarterly earnings results on Thursday, July 20th. The insurance provider reported $0.31 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $263.43 million. During the same period in the previous year, the firm posted $0.26 EPS. The business’s revenue for the quarter was down .1% compared to the same quarter last year. On average, analysts predict that MGIC Investment Corporation will post $1.14 EPS for the current fiscal year.

Several brokerages have issued reports on MTG. BidaskClub lowered MGIC Investment Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 23rd. BTIG Research reiterated a “buy” rating and issued a $14.00 price target (up previously from $12.00) on shares of MGIC Investment Corporation in a report on Saturday, July 22nd. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $13.00 price target on shares of MGIC Investment Corporation in a report on Thursday, August 31st. Zacks Investment Research lowered MGIC Investment Corporation from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, Deutsche Bank AG raised their target price on MGIC Investment Corporation from $13.00 to $13.50 and gave the company a “buy” rating in a report on Friday, July 21st. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. MGIC Investment Corporation currently has a consensus rating of “Buy” and a consensus 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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