Sawgrass Asset Management LLC purchased a new stake in shares of MGIC Investment Corporation (NYSE:MTG) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 10,970 shares of the insurance provider’s stock, valued at approximately $123,000.

A number of other large investors have also made changes to their positions in MTG. Canada Pension Plan Investment Board purchased a new position in MGIC Investment Corporation during the 1st quarter valued at about $299,000. World Asset Management Inc increased its holdings in 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 valued at $123,000 after purchasing an additional 81 shares during the period. UBS Asset Management Americas Inc. increased its holdings in MGIC Investment Corporation by 30.3% during the 1st quarter. UBS Asset Management Americas Inc. now owns 222,565 shares of the insurance provider’s stock valued at $2,255,000 after purchasing an additional 51,709 shares during the period. Karp Capital Management Corp purchased a new position in MGIC Investment Corporation during the 1st quarter valued at about $431,000. Finally, Sei Investments Co. increased its holdings in MGIC Investment Corporation by 10,856.3% during the 1st quarter. Sei Investments Co. now owns 78,885 shares of the insurance provider’s stock valued at $800,000 after purchasing an additional 78,165 shares during the period. Institutional investors own 89.58% of the company’s stock.

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MGIC Investment Corporation (NYSE MTG) opened at 12.02 on Friday. MGIC Investment Corporation has a 12-month low of $7.78 and a 12-month high of $12.25. The stock has a market cap of $4.45 billion, a P/E ratio of 12.38 and a beta of 2.23. The firm’s 50 day moving average price is $11.51 and its 200-day moving average price is $11.01.

MGIC Investment Corporation (NYSE:MTG) last posted its quarterly 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. MGIC Investment Corporation had a net margin of 34.99% and a return on equity of 16.56%. The firm had revenue of $263.31 million during the quarter, compared to the consensus estimate of $263.43 million. During the same quarter in the previous year, the firm posted $0.26 earnings per share. The company’s revenue was down .1% on a year-over-year basis. Equities research analysts anticipate that MGIC Investment Corporation will post $1.14 earnings per share for the current fiscal year.

A number of research analysts recently issued reports on MTG shares. Deutsche Bank AG boosted their price target on MGIC Investment Corporation from $13.00 to $13.50 and gave the company a “buy” rating in a report on Friday, July 21st. ValuEngine upgraded MGIC Investment Corporation from a “buy” rating to a “strong-buy” rating in a report on Friday, June 2nd. BTIG Research restated a “buy” rating and set a $14.00 price target (up previously from $12.00) on shares of MGIC Investment Corporation in a report on Saturday, July 22nd. Keefe, Bruyette & Woods restated a “buy” rating and set a $13.00 price target on shares of MGIC Investment Corporation in a report on Thursday, August 31st. Finally, Zacks Investment Research upgraded MGIC Investment Corporation from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a report on Tuesday, August 22nd. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $12.25.

MGIC Investment Corporation 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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