California Public Employees Retirement System decreased its stake in MGIC Investment Corp. (NYSE:MTG) by 2.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 653,904 shares of the insurance provider’s stock after selling 13,396 shares during the period. California Public Employees Retirement System owned 0.18% of MGIC Investment worth $8,193,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of MTG. AJO LP bought a new stake in shares of MGIC Investment in the second quarter valued at approximately $54,935,000. Janus Henderson Group PLC bought a new stake in shares of MGIC Investment in the second quarter valued at approximately $45,117,000. Vanguard Group Inc. raised its position in shares of MGIC Investment by 9.9% in the second quarter. Vanguard Group Inc. now owns 34,753,956 shares of the insurance provider’s stock valued at $389,244,000 after purchasing an additional 3,120,511 shares during the period. Westfield Capital Management Co. LP raised its position in shares of MGIC Investment by 98.6% in 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 purchasing an additional 2,104,047 shares during the period. Finally, Monarch Partners Asset Management LLC bought a new stake in shares of MGIC Investment in the third quarter valued at approximately $20,412,000. 91.11% of the stock is currently owned by institutional investors.

Several analysts have recently issued reports on the stock. Wells Fargo & Co reissued a “buy” rating on shares of MGIC Investment in a research report on Friday, December 8th. Royal Bank of Canada assumed coverage on shares of MGIC Investment in a research report on Wednesday, December 20th. They issued an “outperform” rating and a $18.00 price target on the stock. BTIG Research boosted their price target on shares of MGIC Investment from $16.00 to $18.00 and gave the company a “buy” rating in a research report on Wednesday, December 20th. Deutsche Bank lowered shares of MGIC Investment from a “buy” rating to a “hold” rating and set a $13.50 price target on the stock. in a research report on Friday, November 3rd. Finally, Bank of America boosted their price target on shares of MGIC Investment from $13.00 to $16.00 and gave the company a “buy” rating in a research report on Friday, October 20th. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $14.98.

MGIC Investment Corp. (NYSE MTG) opened at $14.11 on Monday. The company has a market cap of $5,228.70, a P/E ratio of 12.27, a P/E/G ratio of 1.37 and a beta of 2.30. MGIC Investment Corp. has a 12 month low of $9.68 and a 12 month high of $15.64. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.27 and a current ratio of 0.27.

MGIC Investment (NYSE:MTG) last issued its quarterly earnings data on Wednesday, October 18th. The insurance provider reported $0.32 EPS for the quarter, beating the consensus estimate of $0.26 by $0.06. The company had revenue of $270.30 million during the quarter, compared to analysts’ expectations of $267.85 million. MGIC Investment had a net margin of 41.08% and a return on equity of 16.41%. MGIC Investment’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.14 earnings per share. equities analysts forecast that MGIC Investment Corp. will post 1.21 EPS for the current year.

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MGIC Investment 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.

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

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