Alliancebernstein L.P. lowered its position in MGIC Investment Corporation (NYSE:MTG) by 0.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,052,116 shares of the insurance provider’s stock after selling 7,750 shares during the period. Alliancebernstein L.P. owned 0.28% of MGIC Investment Corporation worth $11,784,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. James Investment Research Inc. increased its holdings in MGIC Investment Corporation by 304.4% in the second quarter. James Investment Research Inc. now owns 164,289 shares of the insurance provider’s stock worth $1,840,000 after buying an additional 123,667 shares during the last quarter. Evanston Investments Inc. dba Evanston Advisors increased its holdings in MGIC Investment Corporation by 3.4% in the second quarter. Evanston Investments Inc. dba Evanston Advisors now owns 285,807 shares of the insurance provider’s stock worth $3,201,000 after buying an additional 9,521 shares during the last quarter. BlackRock Inc. increased its holdings in MGIC Investment Corporation by 26,215.6% in the first quarter. BlackRock Inc. now owns 24,922,469 shares of the insurance provider’s stock worth $252,464,000 after buying an additional 24,827,763 shares during the last quarter. Prudential Financial Inc. increased its holdings in MGIC Investment Corporation by 40.9% in the second quarter. Prudential Financial Inc. now owns 2,426,760 shares of the insurance provider’s stock worth $27,180,000 after buying an additional 704,210 shares during the last quarter. Finally, Rhumbline Advisers increased its holdings 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 during the last quarter. Hedge funds and other institutional investors own 89.58% of the company’s stock.

A number of equities research analysts have issued reports on MTG shares. ValuEngine raised MGIC Investment Corporation from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 2nd. Zacks Investment Research raised MGIC Investment Corporation from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a research report on Tuesday, August 22nd. BidaskClub raised MGIC Investment Corporation from a “hold” rating to a “buy” rating in a research report on Friday, August 18th. Deutsche Bank AG upped their target price on MGIC Investment Corporation from $13.00 to $13.50 and gave the stock a “buy” rating in a research report on Friday, July 21st. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $13.00 target price on shares of MGIC Investment Corporation in a research report on Thursday, August 31st. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $12.25.

Shares of MGIC Investment Corporation (NYSE MTG) opened at 12.02 on Monday. The stock has a 50 day moving average price of $11.51 and a 200 day moving average price of $11.01. The company has a market capitalization of $4.45 billion, a PE ratio of 12.38 and a beta of 2.23. MGIC Investment Corporation has a 52-week low of $7.78 and a 52-week high of $12.25.

MGIC Investment Corporation (NYSE:MTG) last issued its earnings results on Thursday, July 20th. The insurance provider reported $0.31 EPS for the quarter, topping the Thomson Reuters’ consensus estimate 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 during the quarter, compared to the consensus estimate of $263.43 million. During the same period in the previous year, the company posted $0.26 EPS. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. On average, analysts predict that MGIC Investment Corporation will post $1.14 earnings per share for the current fiscal year.

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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.

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

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