Appleton Group LLC acquired a new position in MGIC Investment Corporation (NYSE:MTG) during the second quarter, Holdings Channel reports. The firm acquired 10,653 shares of the insurance provider’s stock, valued at approximately $119,000.

Other institutional investors also recently bought and sold shares of the company. World Asset Management Inc raised 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 worth $123,000 after buying an additional 81 shares during the period. Gotham Asset Management LLC raised its position in MGIC Investment Corporation by 0.9% in the first 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 period. Hillsdale Investment Management Inc. raised its position in MGIC Investment Corporation by 0.9% in the first quarter. Hillsdale Investment Management Inc. now owns 112,580 shares of the insurance provider’s stock worth $1,141,000 after buying an additional 980 shares during the period. First Midwest Bank Trust Division raised its position in MGIC Investment Corporation by 2.4% in the second 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 period. Finally, Paragon Capital Management Ltd raised its position in MGIC Investment Corporation by 15.2% in the second quarter. Paragon Capital Management Ltd now owns 17,807 shares of the insurance provider’s stock worth $199,000 after buying an additional 2,354 shares during the period. Hedge funds and other institutional investors own 86.64% of the company’s stock.

MGIC Investment Corporation (NYSE:MTG) opened at 11.38 on Friday. MGIC Investment Corporation has a 52 week low of $7.25 and a 52 week high of $12.25. The company has a market cap of $4.22 billion, a price-to-earnings ratio of 11.72 and a beta of 2.08. The stock has a 50 day moving average price of $11.52 and a 200 day moving average price of $10.88.

MGIC Investment Corporation (NYSE:MTG) last posted its quarterly earnings results on Thursday, July 20th. The insurance provider reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.06. MGIC Investment Corporation had a net margin of 34.99% and a return on equity of 16.56%. The business had revenue of $263.31 million during the quarter, compared to analyst estimates of $263.43 million. During the same period in the prior year, the business posted $0.26 earnings per share. The company’s revenue was down .1% on a year-over-year basis. On average, equities analysts forecast that MGIC Investment Corporation will post $1.13 earnings per share for the current year.

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A number of research firms have commented on MTG. BTIG Research restated a “buy” rating and set a $14.00 price objective (up previously from $12.00) on shares of MGIC Investment Corporation in a research note on Saturday, July 22nd. ValuEngine upgraded MGIC Investment Corporation from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 2nd. MKM Partners restated a “buy” rating and set a $13.00 price objective (up previously from $10.00) on shares of MGIC Investment Corporation in a research note on Tuesday, April 25th. Deutsche Bank AG raised their price objective 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. Finally, BidaskClub upgraded MGIC Investment Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, June 14th. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $11.80.

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

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