American International Group Inc. increased its holdings in shares of MGIC Investment Corporation (NYSE:MTG) by 8.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 248,370 shares of the insurance provider’s stock after buying an additional 18,571 shares during the period. American International Group Inc. owned about 0.07% of MGIC Investment worth $3,112,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Evanston Investments Inc. dba Evanston Advisors boosted its position in MGIC Investment by 3.4% during the 2nd 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 period. Bank of New York Mellon Corp boosted its position in MGIC Investment by 0.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 13,311,911 shares of the insurance provider’s stock worth $166,798,000 after buying an additional 114,080 shares during the period. Prudential Financial Inc. boosted its position in MGIC Investment by 40.9% during the 2nd 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 period. First Midwest Bank Trust Division boosted its position in MGIC Investment by 60.7% during the 3rd quarter. First Midwest Bank Trust Division now owns 87,474 shares of the insurance provider’s stock worth $1,096,000 after buying an additional 33,026 shares during the period. Finally, CI Investments Inc. boosted its position in MGIC Investment by 375.2% during the 2nd quarter. CI Investments Inc. now owns 109,300 shares of the insurance provider’s stock worth $1,224,000 after buying an additional 86,300 shares during the period. Institutional investors and hedge funds own 91.31% of the company’s stock.

MGIC Investment Corporation (MTG) traded down $0.13 during trading on Friday, hitting $15.32. 3,533,900 shares of the company were exchanged, compared to its average volume of 3,371,823. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.27. MGIC Investment Corporation has a 52 week low of $9.58 and a 52 week high of $15.55. The firm has a market cap of $5,725.26, a P/E ratio of 12.66, a PEG ratio of 1.50 and a beta of 2.26.

MGIC Investment (NYSE:MTG) last released its earnings results on Wednesday, October 18th. The insurance provider reported $0.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.06. MGIC Investment had a net margin of 41.08% and a return on equity of 16.41%. The company had revenue of $270.30 million for the quarter, compared to the consensus estimate of $267.85 million. During the same quarter in the previous year, the company earned $0.14 EPS. MGIC Investment’s quarterly revenue was down 1.3% compared to the same quarter last year. analysts anticipate that MGIC Investment Corporation will post 1.21 earnings per share for the current fiscal year.

Several equities research analysts recently commented on MTG shares. BidaskClub upgraded shares of MGIC Investment from a “hold” rating to a “buy” rating in a research report on Friday, August 18th. Zacks Investment Research upgraded shares of MGIC Investment from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a research report on Tuesday, August 22nd. Keefe, Bruyette & Woods restated a “buy” rating and issued a $13.00 price target on shares of MGIC Investment in a research report on Thursday, August 31st. Compass Point restated a “buy” rating and issued a $15.25 price target (up previously from $13.00) on shares of MGIC Investment in a research report on Wednesday, October 11th. Finally, BTIG Research restated a “buy” rating and issued a $14.00 price target on shares of MGIC Investment in a research report on Saturday, October 14th. Two investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $14.34.

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MGIC Investment 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 (NYSE:MTG)

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