American International Group Inc. boosted its stake in MGIC Investment Corporation (NYSE:MTG) by 5.3% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 206,708 shares of the insurance provider’s stock after buying an additional 10,379 shares during the period. American International Group Inc.’s holdings in MGIC Investment Corporation were worth $2,094,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. World Asset Management Inc boosted its position in 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 purchased a new position in MGIC Investment Corporation during the first quarter valued at $127,000. Private Advisor Group LLC boosted its position in MGIC Investment Corporation by 0.5% in the fourth quarter. Private Advisor Group LLC now owns 12,552 shares of the insurance provider’s stock valued at $130,000 after buying an additional 68 shares during the last quarter. Comerica Bank purchased a new position in MGIC Investment Corporation during the fourth quarter valued at $128,000. Finally, Commerzbank Aktiengesellschaft FI purchased a new position in MGIC Investment Corporation during the fourth quarter valued at $131,000. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

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

MGIC Investment Corporation (NYSE:MTG) opened at 11.25 on Tuesday. The company has a market cap of $4.17 billion, a PE ratio of 12.16 and a beta of 2.10. The company has a 50-day moving average price of $10.78 and a 200-day moving average price of $10.55. MGIC Investment Corporation has a 1-year low of $5.36 and a 1-year high of $11.40.

MGIC Investment Corporation (NYSE:MTG) last announced its quarterly earnings results on Thursday, April 20th. The insurance provider reported $0.31 EPS for the quarter, topping the consensus estimate of $0.24 by $0.07. The business had revenue of $260.90 million for the quarter, compared to analysts’ expectations of $262.97 million. MGIC Investment Corporation had a net margin of 34.10% and a return on equity of 17.00%. The business’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.17 EPS. On average, analysts expect that MGIC Investment Corporation will post $1.05 EPS for the current fiscal year.

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Several research firms have recently weighed in on MTG. BidaskClub raised shares of MGIC Investment Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, June 14th. ValuEngine raised shares of MGIC Investment Corporation from a “buy” rating to a “strong-buy” rating in a report on Friday, June 2nd. Zacks Investment Research cut shares of MGIC Investment Corporation from a “buy” rating to a “hold” rating in a report on Thursday, May 11th. MKM Partners reaffirmed a “buy” rating and issued a $13.00 price target (up previously from $10.00) on shares of MGIC Investment Corporation in a report on Tuesday, April 25th. Finally, TheStreet raised shares of MGIC Investment Corporation from a “c+” rating to a “b” rating in a report on Wednesday, February 22nd. Two investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. MGIC Investment Corporation currently has an average rating of “Buy” and an average target price of $11.55.

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.

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