ClariVest Asset Management LLC raised its position in shares of MGIC Investment Corporation (NYSE:MTG) by 206.8% during the second quarter, Holdings Channel reports. The institutional investor owned 1,059,400 shares of the insurance provider’s stock after buying an additional 714,100 shares during the period. ClariVest Asset Management LLC’s holdings in MGIC Investment Corporation were worth $11,865,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. IFC Holdings Incorporated FL acquired a new position in MGIC Investment Corporation during the second quarter worth $2,352,000. Rhumbline Advisers raised its position in MGIC Investment Corporation by 6.6% in the second quarter. Rhumbline Advisers now owns 496,083 shares of the insurance provider’s stock worth $5,556,000 after buying an additional 30,678 shares in the last quarter. Teacher Retirement System of Texas raised its position in MGIC Investment Corporation by 1.5% in the second quarter. Teacher Retirement System of Texas now owns 27,369 shares of the insurance provider’s stock worth $307,000 after buying an additional 407 shares in the last quarter. DekaBank Deutsche Girozentrale raised its position in MGIC Investment Corporation by 21.1% in the second quarter. DekaBank Deutsche Girozentrale now owns 170,100 shares of the insurance provider’s stock worth $1,895,000 after buying an additional 29,600 shares in the last quarter. Finally, Appleton Group LLC acquired a new position in MGIC Investment Corporation during the second quarter worth $119,000. Institutional investors and hedge funds own 86.64% of the company’s stock.

MGIC Investment Corporation (NYSE:MTG) opened at 11.33 on Friday. The stock’s 50 day moving average is $11.54 and its 200-day moving average is $10.88. The stock has a market capitalization of $4.20 billion, a price-to-earnings ratio of 11.67 and a beta of 2.08. MGIC Investment Corporation has a 52-week low of $7.43 and a 52-week high of $12.25.

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

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A number of research analysts recently weighed in on the stock. BidaskClub lowered shares of MGIC Investment Corporation from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. BTIG Research reiterated a “buy” rating and issued a $14.00 price objective (up from $12.00) on shares of MGIC Investment Corporation in a research note on Saturday, July 22nd. Deutsche Bank AG lifted their price objective on shares of MGIC Investment Corporation from $13.00 to $13.50 and gave the company a “buy” rating in a research note on Friday, July 21st. ValuEngine upgraded shares of MGIC Investment Corporation from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 2nd. Finally, Zacks Investment Research lowered shares of MGIC Investment Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, May 11th. Three 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 company. MGIC Investment Corporation presently has a consensus rating of “Buy” and an average price target 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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