Los Angeles Capital Management & Equity Research Inc. Boosts Position in MGIC Investment Corporation (MTG)

Los Angeles Capital Management & Equity Research Inc. boosted its position in shares of MGIC Investment Corporation (NYSE:MTG) by 106.5% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 810,473 shares of the insurance provider’s stock after acquiring an additional 418,010 shares during the quarter. Los Angeles Capital Management & Equity Research Inc. owned 0.22% of MGIC Investment Corporation worth $9,077,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. World Asset Management Inc increased its position in MGIC Investment Corporation by 0.7% during the first quarter. World Asset Management Inc now owns 12,157 shares of the insurance provider’s stock valued at $123,000 after acquiring an additional 81 shares during the last quarter. Gotham Asset Management LLC increased its position in MGIC Investment Corporation by 0.9% during the first quarter. Gotham Asset Management LLC now owns 38,583 shares of the insurance provider’s stock valued at $391,000 after acquiring an additional 338 shares during the last quarter. Teacher Retirement System of Texas increased its position in MGIC Investment Corporation by 1.5% during the second quarter. Teacher Retirement System of Texas now owns 27,369 shares of the insurance provider’s stock valued at $307,000 after acquiring an additional 407 shares during the last quarter. Hillsdale Investment Management Inc. increased its position in MGIC Investment Corporation by 0.9% during the first quarter. Hillsdale Investment Management Inc. now owns 112,580 shares of the insurance provider’s stock valued at $1,141,000 after acquiring an additional 980 shares during the last quarter. Finally, Comerica Bank increased its position in MGIC Investment Corporation by 8.8% during the second quarter. Comerica Bank now owns 13,806 shares of the insurance provider’s stock valued at $163,000 after acquiring an additional 1,111 shares during the last quarter. Institutional investors own 89.85% of the company’s stock.

MTG has been the subject of a number of research reports. ValuEngine upgraded MGIC Investment Corporation from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 2nd. Zacks Investment Research upgraded MGIC Investment Corporation from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a research report on Tuesday, August 22nd. BidaskClub upgraded MGIC Investment Corporation from a “hold” rating to a “buy” rating in a research report on Friday, August 18th. Deutsche Bank AG upped their price target 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 restated a “buy” rating and issued a $13.00 price target on shares of MGIC Investment Corporation in a research report on Thursday, August 31st. One analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $12.25.

MGIC Investment Corporation (NYSE MTG) opened at 11.13 on Friday. The stock has a 50 day moving average price of $11.52 and a 200-day moving average price of $10.96. MGIC Investment Corporation has a 1-year low of $7.78 and a 1-year high of $12.25. The company has a market cap of $4.12 billion, a price-to-earnings ratio of 11.46 and a beta of 2.23.

MGIC Investment Corporation (NYSE:MTG) last released its quarterly earnings data on Thursday, July 20th. The insurance provider reported $0.31 earnings per share for the quarter, beating the Zacks’ 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 business had revenue of $263.31 million during the quarter, compared to analyst estimates of $263.43 million. During the same quarter last year, the business posted $0.26 EPS. The company’s revenue was down .1% on a year-over-year basis. On average, equities research analysts forecast that MGIC Investment Corporation will post $1.14 EPS for the current 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.

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

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