The stock of MGIC Investment Corp. (NYSE:MTG) is a huge mover today! About 5.55M shares traded hands or 6.12% up from the average. MGIC Investment Corp. (NYSE:MTG) has risen 14.60% since April 14, 2016 and is uptrending. It has outperformed by 9.91% the S&P500.
The move comes after 8 months positive chart setup for the $3.13 billion company. It was reported on Nov, 16 by Barchart.com. We have $11.96 PT which if reached, will make NYSE:MTG worth $970.30 million more.
MGIC Investment Corp. (NYSE:MTG) Ratings Coverage
Out of 7 analysts covering MGIC Investment Corp. (NYSE:MTG), 5 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 71% are positive. MGIC Investment Corp. has been the topic of 15 analyst reports since August 12, 2015 according to StockzIntelligence Inc. The rating was downgraded by Compass Point on Wednesday, April 20 to “Neutral”. The firm earned “Outperform” rating on Thursday, June 30 by FBR Capital. On Friday, October 16 the stock rating was maintained by FBR Capital with “Mkt Perform”. The stock of MGIC Investment Corp. (NYSE:MTG) earned “Buy” rating by M Partners on Tuesday, August 25. Compass Point upgraded MGIC Investment Corp. (NYSE:MTG) on Wednesday, July 20 to “Buy” rating. FBR Capital maintained the stock with “Mkt Perform” rating in Friday, January 22 report. The stock has “Outperform” rating given by Keefe Bruyette & Woods on Monday, October 12. As per Wednesday, August 12, the company rating was maintained by Compass Point. Compass Point maintained the shares of MTG in a report on Tuesday, May 10 with “Neutral” rating. The firm has “Outperform” rating by FBR Capital given on Wednesday, July 20.
According to Zacks Investment Research, “MGIC Investment Corporation is a holding company which, through its wholly owned subsidiary, Mortgage Guaranty Insurance Corporation, is the leading provider of private mortgage insurance coverage in the United States to the home mortgage lending industry. Private mortgage insurance covers residential first mortgage loans and expands home ownership opportunities by enabling people to purchase homes with less than 20% down payments. If the home owner defaults, private mortgage insurance reduces and, in some instances, eliminates the loss to the insured institution.”
Insitutional Activity: The institutional sentiment increased to 1.18 in Q2 2016. Its up 0.27, from 0.91 in 2016Q1. The ratio improved, as 35 funds sold all MGIC Investment Corp. shares owned while 72 reduced positions. 43 funds bought stakes while 83 increased positions. They now own 306.43 million shares or 5.08% less from 322.83 million shares in 2016Q1.
Deutsche Savings Bank Ag last reported 844,832 shares in the company. Eagleclaw Capital Managment Llc holds 0.17% of its portfolio in MGIC Investment Corp. (NYSE:MTG) for 42,100 shares. Algebris Invests (Uk) Llp, a United Kingdom-based fund reported 401,900 shares. Jacobs Asset Mgmt Limited holds 301,000 shares or 0.54% of its portfolio. Qs Invsts Limited Liability holds 1.59 million shares or 0.08% of its portfolio. Ubs Oconnor Limited Com reported 548,220 shares or 0% of all its holdings. Victory Cap Incorporated holds 3.69M shares or 0.09% of its portfolio. Spot Trading Ltd Liability has 147,981 shares for 0.02% of their US portfolio. Lsv Asset Mgmt reported 5.15 million shares or 0.06% of all its holdings. Piedmont Advisors Limited Liability Corporation accumulated 0% or 43 shares. Sg Americas Ltd Llc holds 352,676 shares or 0.01% of its portfolio. Blackrock Fund Advisors owns 8.39M shares or 0.01% of their US portfolio. Serengeti Asset Management Lp reported 500,000 shares or 0.64% of all its holdings. Bnp Paribas Arbitrage Sa has 125,326 shares for 0% of their US portfolio. The Massachusetts-based Panagora Asset has invested 0% in MGIC Investment Corp. (NYSE:MTG).
More news for MGIC Investment Corp. (NYSE:MTG) were recently published by: Prnewswire.com, which released: “MGIC Investment Corporation Reports Third Quarter 2016 Results” on October 18, 2016. Prnewswire.com‘s article titled: “MGIC Investment Corporation Announces Retirement of Board Member Donald Nicolaisen” and published on October 24, 2016 is yet another important article.
MTG Company Profile
MGIC Investment Corporation, incorporated on June 21, 1984, is a holding company. The Company, through its subsidiaries, provides private mortgage insurance and ancillary services. The Company’s subsidiaries include Mortgage Guaranty Insurance Corporation (MGIC) and MGIC Indemnity Corporation (MIC). The Firm 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. The Company’s principal product is primary mortgage insurance. Primary insurance provides mortgage default protection on individual loans and covers unpaid loan principal, delinquent interest and certain expenses associated with the default and subsequent foreclosure or sale approved by the Company. Through certain other non-insurance subsidiaries, the Company also provides various services for the mortgage finance industry, such as contract underwriting, analysis of loan originations and portfolios, and mortgage lead generation.
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