California State Teachers Retirement System Sells 63,012 Shares of MGIC Investment Corp. (NYSE:MTG)

California State Teachers Retirement System cut its holdings in MGIC Investment Corp. (NYSE:MTG) by 9.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 593,242 shares of the insurance provider’s stock after selling 63,012 shares during the period. California State Teachers Retirement System owned about 0.16% of MGIC Investment worth $7,433,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of MTG. Evanston Investments Inc. dba Evanston Advisors boosted its position in MGIC Investment by 3.4% in the 2nd quarter. Evanston Investments Inc. dba Evanston Advisors now owns 285,807 shares of the insurance provider’s stock valued at $3,201,000 after buying an additional 9,521 shares during the period. Bank of New York Mellon Corp lifted its position in shares of MGIC Investment by 0.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 13,311,911 shares of the insurance provider’s stock worth $166,798,000 after purchasing an additional 114,080 shares during the period. Prudential Financial Inc. lifted its position in shares of MGIC Investment by 40.9% in the 2nd quarter. Prudential Financial Inc. now owns 2,426,760 shares of the insurance provider’s stock worth $27,180,000 after purchasing an additional 704,210 shares during the period. First Midwest Bank Trust Division lifted its position in shares of MGIC Investment by 60.7% in the 3rd quarter. First Midwest Bank Trust Division now owns 87,474 shares of the insurance provider’s stock worth $1,096,000 after purchasing an additional 33,026 shares during the period. Finally, Royal Bank of Canada lifted its position in shares of MGIC Investment by 92.3% in the 2nd quarter. Royal Bank of Canada now owns 40,756 shares of the insurance provider’s stock worth $457,000 after purchasing an additional 19,567 shares during the period. Hedge funds and other institutional investors own 91.11% of the company’s stock.

Shares of MGIC Investment Corp. (NYSE:MTG) opened at $15.12 on Friday. MGIC Investment Corp. has a 12-month low of $9.68 and a 12-month high of $15.64. The stock has a market cap of $5,620.00, a PE ratio of 13.26, a P/E/G ratio of 1.29 and a beta of 2.29. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.27 and a current ratio of 0.27.

MGIC Investment (NYSE:MTG) last announced its quarterly earnings results on Wednesday, October 18th. The insurance provider reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.06. MGIC Investment had a net margin of 44.40% and a return on equity of 15.72%. The business had revenue of $270.30 million during the quarter, compared to analysts’ expectations of $267.85 million. During the same period last year, the business earned $0.14 earnings per share. The business’s revenue for the quarter was down 1.3% on a year-over-year basis. analysts predict that MGIC Investment Corp. will post 1.21 EPS for the current year.

Several research analysts recently commented on the stock. Deutsche Bank upgraded shares of MGIC Investment from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $15.00 to $18.00 in a research note on Monday, January 8th. ValuEngine lowered shares of MGIC Investment from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Zacks Investment Research lowered shares of MGIC Investment from a “buy” rating to a “hold” rating in a research note on Wednesday, October 4th. MKM Partners increased their price objective on shares of MGIC Investment to $16.00 and gave the stock a “buy” rating in a research note on Thursday, October 19th. Finally, FBR & Co reissued a “buy” rating on shares of MGIC Investment in a report on Wednesday, October 18th. One investment analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. MGIC Investment presently has an average rating of “Buy” and an average target price of $15.35.

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MGIC Investment 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 (NYSE:MTG)

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