Voya Investment Management LLC lowered its position in MGIC Investment Corp. (NYSE:MTG) by 6.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,306,750 shares of the insurance provider’s stock after selling 166,438 shares during the quarter. Voya Investment Management LLC’s holdings in MGIC Investment were worth $24,728,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in the business. Raymond James & Associates increased its stake in shares of MGIC Investment by 19.9% in the second quarter. Raymond James & Associates now owns 31,671 shares of the insurance provider’s stock valued at $340,000 after purchasing an additional 5,247 shares during the period. Renaissance Technologies LLC increased its stake in shares of MGIC Investment by 38.6% in the second quarter. Renaissance Technologies LLC now owns 5,816,754 shares of the insurance provider’s stock valued at $62,356,000 after purchasing an additional 1,618,954 shares during the period. MYDA Advisors LLC acquired a new stake in shares of MGIC Investment in the second quarter valued at approximately $375,000. Caisse DE Depot ET Placement DU Quebec acquired a new stake in shares of MGIC Investment in the second quarter valued at approximately $3,125,000. Finally, United Services Automobile Association increased its stake in shares of MGIC Investment by 62.8% in the second quarter. United Services Automobile Association now owns 570,805 shares of the insurance provider’s stock valued at $6,119,000 after purchasing an additional 220,091 shares during the period. Institutional investors own 91.33% of the company’s stock.

NYSE MTG opened at $13.07 on Friday. MGIC Investment Corp. has a 12 month low of $9.97 and a 12 month high of $16.21. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.25. The company has a market cap of $4.68 billion, a P/E ratio of 7.98, a P/E/G ratio of 1.63 and a beta of 1.86.

MGIC Investment (NYSE:MTG) last posted its quarterly earnings data on Wednesday, July 18th. The insurance provider reported $0.49 EPS for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.13. MGIC Investment had a net margin of 43.85% and a return on equity of 19.18%. The business had revenue of $282.00 million for the quarter, compared to analyst estimates of $269.97 million. During the same quarter last year, the business earned $0.49 earnings per share. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. sell-side analysts predict that MGIC Investment Corp. will post 1.59 EPS for the current fiscal year.

Several brokerages have commented on MTG. ValuEngine lowered shares of MGIC Investment from a “hold” rating to a “sell” rating in a research note on Monday, July 2nd. B. Riley raised their price target on shares of MGIC Investment from $14.00 to $16.00 and gave the company a “buy” rating in a research note on Tuesday, August 7th. Bank of America lowered shares of MGIC Investment from a “neutral” rating to an “underperform” rating in a research note on Wednesday, June 13th. Finally, Zacks Investment Research upgraded shares of MGIC Investment from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research note on Tuesday, June 19th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $16.33.

MGIC Investment Profile

MGIC Investment Corporation, through its subsidiaries, provides private mortgage insurance and ancillary services to lenders and government sponsored entities in the United States. The company offers primary mortgage insurance that provides mortgage default protection on individual loans, as well as covers unpaid loan principal, delinquent interest, and various expenses associated with the default and subsequent foreclosure.

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

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