Economy

MGIC Investment Corporation (MTG) is NFC Investments LLC's 3rd Largest Position

MGIC Investment Corporation (NYSE:MTG)'s stock has been a favorite of "smart money" aka institutions, as of late. The brokerage now has a $14.00 target price on the insurance provider's stock.

Several other equities research analysts also recently commented on the company.

Analysts on average have given a price target of $13.53 to MGIC Investment Corp. James Investment Research Inc. lifted its stake in shares of MGIC Investment Corporation by 304.4% during the 2nd quarter. Credit Suisse Ag sold 6,699 shares as the company's stock declined 7.33% while stock markets rallied. Finally, Compass Point reiterated a buy rating and set a $15.25 price objective (up previously from $13.00) on shares of MGIC Investment Corporation in a research note on Wednesday, October 11th. (NYSE:MTG). Northern Tru holds 0.02% of its portfolio in MGIC Investment Corp. The 50 day moving average went up by +9.77% and the 200 day average was up $1.79. The stock has a market capitalization of $4.84 billion, a P/E ratio of 13.45 and a beta of 2.16. (NYSE:MTG). Florida-based Raymond James & Assoc has invested 0% in MGIC Investment Corp.

In recent action, MGIC Investment Corporation (MTG) has made a move of +11.72% over the past month, which has come on weak relative transaction volume. The insurance provider reported $0.31 EPS for the quarter, beating analysts' consensus estimates of $0.25 by $0.06.

MGIC Investment Corporation is a holding company. The high and low revenue estimates for the current quarter are $279.8 Million and $267.04 Million, respectively. However, 11.62% over the last one month, 11.05% for the last quarter and year to date performance stands at 28.16%. After $0.74 actual EPS reported by Ebix Inc for the previous quarter, Wall Street now forecasts -4.05% negative EPS growth.

MGIC Investment Corporation is maintained at an average outperform rating by 12 stock analysts, and there are at least 2% of shares outstanding that are now legally short sold.

TRADEMARK VIOLATION NOTICE: This piece was reported by TrueBlueTribune and is the property of of TrueBlueTribune. If you are viewing this report on another domain, it was copied illegally and reposted in violation of United States & worldwide trademark and copyright laws. The legal version of this piece can be read at https://www.truebluetribune.com/2017/10/17/mgic-investment-corporation-mtg-earns-buy-rating-from-btig-research.html. The stock exchanged hands with 2870079 numbers of shares contrast to its average daily volume of 4.50M shares.

03/24/2015 - MGIC Investment Corporation was downgraded to "hold" by analysts at Zacks. Outstanding shares refer to a company's stock presently held by all its shareholders, counting share blocks held by institutional shareholders and restricted shares owned by the company's officers and insiders. Teacher Retirement System of Texas now owns 27,369 shares of the insurance provider's stock worth $307,000 after buying an additional 407 shares in the last quarter. Appleton Group LLC bought a new stake in shares of MGIC Investment Corporation in the 2nd quarter worth approximately $119,000. Fj Mngmt Ltd Liability Company invested 0.04% in MGIC Investment Corp. State Street Corp now owns 12,909,795 shares of the insurance provider's stock worth $144,591,000 after purchasing an additional 86,987 shares during the period. Finally, World Asset Management Inc grew its position in MGIC Investment Corporation by 10.0% during the second quarter. LSV Asset Management now owns 12,560,022 shares of the insurance provider's stock worth $140,672,000 after purchasing an additional 490,096 shares during the period. As the name suggests, this gives the middle ground of the fund's equity investments, letting investors know if the fund mainly invests in large-, mid- or small-cap stocks.

The top 5 institutional holders, in ascending order, are as follows: VANGUARD GROUP INC with 34.75 million shares, BLACKROCK INC. with 25.32 million shares, WELLINGTON MANAGEMENT GROUP LLP with 24.2 million shares, FMR LLC with 14.9 million shares, and BANK OF NEW YORK MELLON CORP with 13.2 million shares. The Company, through its subsidiaries, provides private mortgage insurance and ancillary services.



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