Brant Point Investment Management LLC lifted its holdings in shares of MGIC Investment Corporation (NYSE:MTG) by 7.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 532,543 shares of the insurance provider’s stock after purchasing an additional 38,043 shares during the period. Brant Point Investment Management LLC owned about 0.14% of MGIC Investment Corporation worth $5,964,000 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. Fox Run Management L.L.C. bought a new stake in shares of MGIC Investment Corporation during the 2nd quarter worth $116,000. Appleton Group LLC bought a new stake in shares of MGIC Investment Corporation during the 2nd quarter worth $119,000. Advisors Asset Management Inc. bought a new stake in shares of MGIC Investment Corporation during the 2nd quarter worth $121,000. World Asset Management Inc raised its stake in shares of MGIC Investment Corporation by 0.7% during the 1st quarter. World Asset Management Inc now owns 12,157 shares of the insurance provider’s stock worth $123,000 after purchasing an additional 81 shares during the period. Finally, Eagle Global Advisors LLC bought a new stake in shares of MGIC Investment Corporation during the 2nd quarter worth $146,000. Institutional investors own 89.58% of the company’s stock.

A number of research firms have recently commented on MTG. BidaskClub upgraded MGIC Investment Corporation from a “hold” rating to a “buy” rating in a research note on Friday, August 18th. Zacks Investment Research upgraded MGIC Investment Corporation from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a research note on Tuesday, August 22nd. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $13.00 target price on shares of MGIC Investment Corporation in a research note on Thursday, August 31st. BTIG Research reiterated a “buy” rating and set a $14.00 target price (up from $12.00) on shares of MGIC Investment Corporation in a research note on Saturday, July 22nd. Finally, ValuEngine upgraded MGIC Investment Corporation from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 2nd. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $12.25.

Shares of MGIC Investment Corporation (NYSE MTG) traded up 0.51% during midday trading on Wednesday, reaching $11.90. The company had a trading volume of 510,702 shares. The company has a 50 day moving average of $11.51 and a 200 day moving average of $11.01. MGIC Investment Corporation has a 12-month low of $7.78 and a 12-month high of $12.25. The firm has a market capitalization of $4.41 billion, a price-to-earnings ratio of 12.26 and a beta of 2.23.

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 analysts’ consensus estimates of $0.25 by $0.06. MGIC Investment Corporation had a return on equity of 16.56% and a net margin of 34.99%. The company had revenue of $263.31 million for the quarter, compared to the consensus estimate of $263.43 million. During the same quarter in the prior year, the company earned $0.26 earnings per share. MGIC Investment Corporation’s revenue was down .1% on a year-over-year basis. Analysts anticipate that MGIC Investment Corporation will post $1.14 EPS for the current year.

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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.

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

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