Oxbow Advisors LLC Sells 20,850 Shares of MGIC Investment Corporation (NYSE:MTG)

Oxbow Advisors LLC decreased its position in MGIC Investment Corporation (NYSE:MTG) by 7.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 251,350 shares of the insurance provider’s stock after selling 20,850 shares during the period. Oxbow Advisors LLC owned approximately 0.07% of MGIC Investment Corporation worth $2,815,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the company. World Asset Management Inc boosted its stake in shares of MGIC Investment Corporation by 0.7% in the first quarter. World Asset Management Inc now owns 12,157 shares of the insurance provider’s stock worth $123,000 after buying an additional 81 shares during the period. Gotham Asset Management LLC boosted its stake in shares of MGIC Investment Corporation by 0.9% in the first quarter. Gotham Asset Management LLC now owns 38,583 shares of the insurance provider’s stock worth $391,000 after buying an additional 338 shares during the period. Hillsdale Investment Management Inc. boosted its stake in shares of MGIC Investment Corporation by 0.9% in the first quarter. Hillsdale Investment Management Inc. now owns 112,580 shares of the insurance provider’s stock worth $1,141,000 after buying an additional 980 shares during the period. Quadrature Capital Ltd boosted its stake in shares of MGIC Investment Corporation by 2.5% in the fourth quarter. Quadrature Capital Ltd now owns 86,817 shares of the insurance provider’s stock worth $885,000 after buying an additional 2,155 shares during the period. Finally, CI Investments Inc. boosted its stake in shares of MGIC Investment Corporation by 15.0% in the first quarter. CI Investments Inc. now owns 23,000 shares of the insurance provider’s stock worth $233,000 after buying an additional 3,000 shares during the period. Hedge funds and other institutional investors own 86.64% of the company’s stock.

MGIC Investment Corporation (NYSE:MTG) opened at 11.33 on Friday. The firm has a market capitalization of $4.20 billion, a price-to-earnings ratio of 11.67 and a beta of 2.08. The stock has a 50 day moving average price of $11.54 and a 200-day moving average price of $10.88. MGIC Investment Corporation has a one year low of $7.43 and a one year high of $12.25.

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 business had revenue of $263.31 million for 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%. The company’s 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 predict that MGIC Investment Corporation will post $1.13 earnings per share for the current fiscal year.

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A number of equities research analysts recently weighed in on the company. BTIG Research restated a “buy” rating and set a $14.00 price objective (up from $12.00) on shares of MGIC Investment Corporation in a research note on Saturday, July 22nd. ValuEngine raised MGIC Investment Corporation from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 2nd. MKM Partners reaffirmed a “buy” rating and set a $13.00 target price (up from $10.00) on shares of MGIC Investment Corporation in a research report on Tuesday, April 25th. Deutsche Bank AG upped their target price on MGIC Investment Corporation from $13.00 to $13.50 and gave the company a “buy” rating in a research report on Friday, July 21st. Finally, BidaskClub raised MGIC Investment Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, June 14th. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $11.80.

MGIC Investment Corporation Company 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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