MGIC Investment Corporation (MTG) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System lowered its holdings in shares of MGIC Investment Corporation (NYSE:MTG) by 5.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 667,300 shares of the insurance provider’s stock after selling 38,300 shares during the quarter. California Public Employees Retirement System owned approximately 0.18% of MGIC Investment Corporation worth $7,474,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in MTG. UBS Asset Management Americas Inc. grew its position in shares of MGIC Investment Corporation by 30.3% during the first quarter. UBS Asset Management Americas Inc. now owns 222,565 shares of the insurance provider’s stock worth $2,255,000 after purchasing an additional 51,709 shares in the last quarter. Karp Capital Management Corp purchased a new stake in shares of MGIC Investment Corporation during the first quarter worth about $431,000. Sei Investments Co. grew its position in shares of MGIC Investment Corporation by 10,856.3% during the first quarter. Sei Investments Co. now owns 78,885 shares of the insurance provider’s stock worth $800,000 after purchasing an additional 78,165 shares in the last quarter. State of Tennessee Treasury Department purchased a new stake in shares of MGIC Investment Corporation during the first quarter worth about $203,000. Finally, Stifel Financial Corp grew its position in shares of MGIC Investment Corporation by 167.1% during the first quarter. Stifel Financial Corp now owns 33,441 shares of the insurance provider’s stock worth $341,000 after purchasing an additional 20,923 shares in the last quarter. Hedge funds and other institutional investors own 89.58% of the company’s stock.

Shares of MGIC Investment Corporation (NYSE:MTG) opened at 12.64 on Friday. MGIC Investment Corporation has a 52-week low of $7.94 and a 52-week high of $12.73. The company’s 50 day moving average price is $11.86 and its 200 day moving average price is $11.23. The stock has a market cap of $4.68 billion, a PE ratio of 13.02 and a beta of 2.16.

MGIC Investment Corporation (NYSE:MTG) last released its quarterly earnings results on Thursday, July 20th. The insurance provider reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.06. The company had revenue of $263.31 million during the quarter, compared to analysts’ expectations of $263.43 million. MGIC Investment Corporation had a return on equity of 16.56% and a net margin of 34.99%. MGIC Investment Corporation’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.26 EPS. On average, analysts anticipate that MGIC Investment Corporation will post $1.14 earnings per share for the current year.

Several analysts recently issued reports on the company. Compass Point reiterated a “buy” rating on shares of MGIC Investment Corporation in a research report on Wednesday. Zacks Investment Research cut MGIC Investment Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, October 4th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $13.00 target price on shares of MGIC Investment Corporation in a research report on Thursday, August 31st. BidaskClub upgraded MGIC Investment Corporation from a “hold” rating to a “buy” rating in a research report on Friday, August 18th. Finally, BTIG Research reiterated a “buy” rating and set a $14.00 target price (up previously from $12.00) on shares of MGIC Investment Corporation in a research report on Saturday, July 22nd. Two equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. MGIC Investment Corporation presently has an average rating of “Buy” and an average price target of $12.25.

COPYRIGHT VIOLATION WARNING: “MGIC Investment Corporation (MTG) Shares Sold by California Public Employees Retirement System” was posted by Markets Daily and is owned by of Markets Daily. If you are accessing this piece of content on another publication, it was copied illegally and republished in violation of US and international trademark and copyright laws. The legal version of this piece of content can be viewed at https://www.themarketsdaily.com/2017/10/13/mgic-investment-corporation-mtg-shares-sold-by-california-public-employees-retirement-system.html.

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)

Receive News & Ratings for MGIC Investment Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MGIC Investment Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply