Stifel Financial Corp decreased its stake in shares of MGIC Investment Corporation (NYSE:MTG) by 45.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,186 shares of the insurance provider’s stock after selling 15,255 shares during the period. Stifel Financial Corp’s holdings in MGIC Investment Corporation were worth $205,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in MTG. BlackRock Inc. boosted its position in shares of MGIC Investment Corporation by 26,215.6% during the first quarter. BlackRock Inc. now owns 24,922,469 shares of the insurance provider’s stock valued at $252,464,000 after buying an additional 24,827,763 shares during the last quarter. AJO LP purchased a new position in shares of MGIC Investment Corporation during the second quarter valued at approximately $54,935,000. Vanguard Group Inc. boosted its position in shares of MGIC Investment Corporation by 9.9% during the second quarter. Vanguard Group Inc. now owns 34,753,956 shares of the insurance provider’s stock valued at $389,244,000 after buying an additional 3,120,511 shares during the last quarter. Bank of New York Mellon Corp boosted its position 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 buying an additional 3,013,777 shares during the last quarter. Finally, Westfield Capital Management Co. LP boosted its position in shares of MGIC Investment Corporation by 98.6% during the second quarter. Westfield Capital Management Co. LP now owns 4,238,647 shares of the insurance provider’s stock valued at $47,473,000 after buying an additional 2,104,047 shares during the last quarter. 90.87% of the stock is currently owned by institutional investors.

MTG has been the topic of several analyst reports. Deutsche Bank AG lifted their target price on MGIC Investment Corporation from $13.00 to $13.50 and gave the company a “buy” rating in a research report on Friday, July 21st. BTIG Research reaffirmed a “buy” rating and set a $14.00 target price (up previously from $12.00) on shares of MGIC Investment Corporation in a research report on Saturday, July 22nd. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $13.00 target price on shares of MGIC Investment Corporation in a research report on Thursday, August 31st. Zacks Investment Research raised MGIC Investment Corporation from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a research report on Monday, October 23rd. Finally, Bank of America Corporation boosted their price objective on MGIC Investment Corporation from $13.00 to $16.00 and gave the stock a “buy” rating in a research report on Friday, October 20th. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. MGIC Investment Corporation currently has an average rating of “Buy” and an average target price of $14.08.

MGIC Investment Corporation (MTG) opened at $13.33 on Wednesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.18 and a quick ratio of 0.18. MGIC Investment Corporation has a 1 year low of $8.17 and a 1 year high of $14.50. The firm has a market capitalization of $5,032.23, a price-to-earnings ratio of 11.13, a price-to-earnings-growth ratio of 2.24 and a beta of 2.28.

MGIC Investment Corporation (NYSE:MTG) last issued its quarterly earnings results on Wednesday, October 18th. The insurance provider reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.06. MGIC Investment Corporation had a return on equity of 17.01% and a net margin of 41.08%. The firm had revenue of $270.30 million for the quarter, compared to analysts’ expectations of $267.85 million. During the same quarter in the prior year, the firm earned $0.14 EPS. The business’s revenue for the quarter was down 1.3% compared to the same quarter last year. equities analysts expect that MGIC Investment Corporation will post 1.21 EPS for the current year.

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MGIC Investment Corporation 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.

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

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