Sterling Capital Management LLC Has $1.84 Million Position in MGIC Investment Corporation (MTG)

Sterling Capital Management LLC boosted its position in shares of MGIC Investment Corporation (NYSE:MTG) by 8.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 164,036 shares of the insurance provider’s stock after buying an additional 12,123 shares during the quarter. Sterling Capital Management LLC’s holdings in MGIC Investment Corporation were worth $1,837,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Gotham Asset Management LLC grew 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 buying an additional 338 shares during the period. Teacher Retirement System of Texas grew 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 buying an additional 407 shares during the period. Fiera Capital Corp grew its position in MGIC Investment Corporation by 3.6% during the second quarter. Fiera Capital Corp now owns 23,955 shares of the insurance provider’s stock valued at $268,000 after buying an additional 825 shares during the period. Comerica Bank grew 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 buying an additional 1,111 shares during the period. Finally, World Asset Management Inc grew its position in MGIC Investment Corporation by 10.0% during the second quarter. World Asset Management Inc now owns 13,375 shares of the insurance provider’s stock valued at $150,000 after buying an additional 1,218 shares during the period. Institutional investors own 89.43% of the company’s stock.

Several analysts recently commented on the stock. FBR & Co restated a “buy” rating on shares of MGIC Investment Corporation in a research report on Wednesday. BTIG Research restated a “buy” rating and set a $14.00 price target on shares of MGIC Investment Corporation in a research report on Saturday, October 14th. Zacks Investment Research lowered shares of MGIC Investment Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, October 4th. Compass Point restated a “buy” rating and set a $15.25 price target (up previously from $13.00) on shares of MGIC Investment Corporation in a research report on Wednesday, October 11th. Finally, Deutsche Bank AG raised their price target on shares of MGIC Investment Corporation from $13.00 to $13.50 and gave the company a “buy” rating in a research report on Friday, July 21st. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. MGIC Investment Corporation has an average rating of “Buy” and an average target price of $13.08.

MGIC Investment Corporation (NYSE:MTG) opened at 13.54 on Thursday. MGIC Investment Corporation has a 12-month low of $7.94 and a 12-month high of $13.62. The stock has a market capitalization of $5.02 billion, a P/E ratio of 13.94 and a beta of 2.16. The firm’s 50-day moving average is $12.04 and its 200 day moving average is $11.33.

MGIC Investment Corporation (NYSE:MTG) last released its quarterly earnings data on Wednesday, October 18th. The insurance provider reported $0.32 EPS for the quarter, topping the consensus estimate of $0.26 by $0.06. MGIC Investment Corporation had a net margin of 34.99% and a return on equity of 16.56%. The business had revenue of $270.30 million for the quarter, compared to analyst estimates of $267.85 million. During the same period in the previous year, the firm earned $0.14 EPS. The business’s revenue for the quarter was down 1.3% compared to the same quarter last year. Equities analysts expect that MGIC Investment Corporation will post $1.14 EPS for the current year.

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About MGIC Investment Corporation

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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