Sadoff Investment Management LLC Boosts Holdings in MGIC Investment Corporation (MTG)

Sadoff Investment Management LLC boosted its position in MGIC Investment Corporation (NYSE:MTG) by 1.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,449,150 shares of the insurance provider’s stock after purchasing an additional 23,450 shares during the quarter. MGIC Investment Corporation makes up 2.7% of Sadoff Investment Management LLC’s portfolio, making the stock its 20th biggest position. Sadoff Investment Management LLC owned approximately 0.66% of MGIC Investment Corporation worth $30,688,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in MGIC Investment Corporation by 9.9% in the second quarter. Vanguard Group Inc. now owns 34,753,956 shares of the insurance provider’s stock worth $389,244,000 after purchasing an additional 3,120,511 shares in the last quarter. BlackRock Inc. increased its holdings in shares of MGIC Investment Corporation by 1.6% during the second quarter. BlackRock Inc. now owns 25,319,890 shares of the insurance provider’s stock valued at $283,585,000 after acquiring an additional 397,421 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of MGIC Investment Corporation by 0.9% during the third quarter. Bank of New York Mellon Corp now owns 13,311,911 shares of the insurance provider’s stock valued at $166,798,000 after acquiring an additional 114,080 shares in the last quarter. State Street Corp increased its holdings in shares of MGIC Investment Corporation by 0.7% during the second quarter. State Street Corp now owns 12,909,795 shares of the insurance provider’s stock valued at $144,591,000 after acquiring an additional 86,987 shares in the last quarter. Finally, LSV Asset Management increased its holdings in shares of MGIC Investment Corporation by 4.1% during the second quarter. LSV Asset Management now owns 12,560,022 shares of the insurance provider’s stock valued at $140,672,000 after acquiring an additional 490,096 shares in the last quarter. Institutional investors and hedge funds own 91.57% of the company’s stock.

Several brokerages have recently weighed in on MTG. Barclays PLC raised their price target on MGIC Investment Corporation from $13.00 to $15.00 and gave the company an “overweight” rating in a report on Thursday, October 19th. BidaskClub upgraded MGIC Investment Corporation from a “hold” rating to a “buy” rating in a report on Friday, August 18th. Zacks Investment Research upgraded MGIC Investment Corporation from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a report on Monday, October 23rd. FBR & Co restated a “buy” rating on shares of MGIC Investment Corporation in a report on Wednesday, October 18th. Finally, Keefe, Bruyette & Woods restated a “buy” rating and set a $13.00 price target on shares of MGIC Investment Corporation in a report on Thursday, August 31st. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $14.08.

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MGIC Investment Corporation (MTG) traded up $0.06 during trading on Monday, hitting $14.39. The company had a trading volume of 2,372,300 shares, compared to its average volume of 3,420,730. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.27 and a quick ratio of 0.27. MGIC Investment Corporation has a 12 month low of $9.00 and a 12 month high of $14.69. The stock has a market capitalization of $5,332.46, a PE ratio of 11.80, a PEG ratio of 2.38 and a beta of 2.28.

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, beating the consensus estimate of $0.26 by $0.06. MGIC Investment Corporation had a return on equity of 16.41% and a net margin of 41.08%. The company had revenue of $270.30 million for the quarter, compared to analysts’ expectations of $267.85 million. During the same period last year, the firm posted $0.14 earnings per share. MGIC Investment Corporation’s revenue was down 1.3% compared to the same quarter last year. research analysts anticipate that MGIC Investment Corporation will post 1.21 earnings per share for the current fiscal year.

MGIC Investment Corporation 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.

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Institutional Ownership by Quarter for MGIC Investment Corporation (NYSE:MTG)

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