Allianz Asset Management GmbH boosted its holdings in MGIC Investment Corp. (NYSE:MTG) by 11.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 451,531 shares of the insurance provider’s stock after buying an additional 44,935 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.12% of MGIC Investment worth $5,657,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of the stock. Teacher Retirement System of Texas grew its holdings in shares of MGIC Investment by 1.5% during the second quarter. Teacher Retirement System of Texas now owns 27,369 shares of the insurance provider’s stock worth $307,000 after purchasing an additional 407 shares during the last quarter. Fiera Capital Corp grew its holdings in shares of MGIC Investment by 3.6% during the second quarter. Fiera Capital Corp now owns 23,955 shares of the insurance provider’s stock worth $268,000 after purchasing an additional 825 shares during the last quarter. Comerica Bank grew its holdings in shares of MGIC Investment by 8.8% during the second quarter. Comerica Bank now owns 13,806 shares of the insurance provider’s stock worth $163,000 after purchasing an additional 1,111 shares during the last quarter. World Asset Management Inc grew its holdings in shares of MGIC Investment by 10.0% during the second quarter. World Asset Management Inc now owns 13,375 shares of the insurance provider’s stock worth $150,000 after purchasing an additional 1,218 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of MGIC Investment by 11.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,009 shares of the insurance provider’s stock worth $146,000 after purchasing an additional 1,312 shares during the last quarter. 91.11% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have issued reports on MTG shares. Deutsche Bank lowered MGIC Investment from a “buy” rating to a “hold” rating and set a $13.50 price objective on the stock. in a report on Friday, November 3rd. Wells Fargo & Company reaffirmed an “outperform” rating and set a $17.00 price objective on shares of MGIC Investment in a report on Tuesday, November 28th. Zacks Investment Research raised MGIC Investment from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a report on Monday, October 23rd. BTIG Research reaffirmed a “buy” rating and set a $14.00 price objective on shares of MGIC Investment in a report on Saturday, October 14th. Finally, Bank of America raised their price objective on MGIC Investment from $13.00 to $16.00 and gave the stock a “buy” rating in a report on Friday, October 20th. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $14.71.
MGIC Investment (NYSE:MTG) last announced its earnings results on Wednesday, October 18th. The insurance provider reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.06. MGIC Investment had a net margin of 41.08% and a return on equity of 16.41%. The business had revenue of $270.30 million during the quarter, compared to the consensus estimate of $267.85 million. During the same quarter in the prior year, the firm earned $0.14 earnings per share. The business’s quarterly revenue was down 1.3% compared to the same quarter last year. research analysts expect that MGIC Investment Corp. will post 1.21 EPS for the current fiscal year.
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About MGIC Investment
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.
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