Profund Advisors LLC increased its stake in shares of MGIC Investment Co. (NYSE:MTG – Get Rating) by 25.2% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 20,730 shares of the insurance provider's stock after buying an additional 4,179 shares during the quarter. Profund Advisors LLC's holdings in MGIC Investment were worth $281,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Bank of Nova Scotia lifted its position in MGIC Investment by 18.6% during the first quarter. Bank of Nova Scotia now owns 9,803,863 shares of the insurance provider's stock worth $132,842,000 after buying an additional 1,534,540 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in MGIC Investment by 12.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 7,950,428 shares of the insurance provider's stock worth $114,644,000 after buying an additional 869,404 shares in the last quarter. Geode Capital Management LLC lifted its position in MGIC Investment by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 4,319,826 shares of the insurance provider's stock worth $62,291,000 after buying an additional 20,100 shares in the last quarter. Brown Advisory Inc. raised its position in MGIC Investment by 4.6% in the first quarter. Brown Advisory Inc. now owns 3,462,083 shares of the insurance provider's stock valued at $46,998,000 after purchasing an additional 152,835 shares during the period. Finally, Assenagon Asset Management S.A. raised its position in MGIC Investment by 16.9% in the first quarter. Assenagon Asset Management S.A. now owns 3,107,256 shares of the insurance provider's stock valued at $42,103,000 after purchasing an additional 449,824 shares during the period. Hedge funds and other institutional investors own 94.10% of the company's stock.

MGIC Investment Trading Down 3.1 %

Shares of NYSE MTG opened at $14.49 on Friday. MGIC Investment Co. has a twelve month low of $11.38 and a twelve month high of $16.84. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.20. The stock has a fifty day simple moving average of $13.74 and a 200-day simple moving average of $13.78. The stock has a market capitalization of $4.40 billion, a PE ratio of 6.25, a PEG ratio of 1.22 and a beta of 1.47.

MGIC Investment Increases Dividend

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Bank of America upgraded MGIC Investment from a "neutral" rating to a "buy" rating and set a $18.00 target price on the stock in a research report on Thursday, August 18th. Royal Bank of Canada upgraded MGIC Investment from a "sector perform" rating to an "outperform" rating and lifted their target price for the company from $15.00 to $16.00 in a research report on Thursday, June 23rd. Credit Suisse Group lifted their target price on MGIC Investment to $17.00 in a research report on Monday, August 22nd. Finally, StockNews.com upgraded MGIC Investment from a "hold" rating to a "buy" rating in a research report on Friday, August 5th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, MGIC Investment presently has an average rating of "Moderate Buy" and a consensus price target of $18.33.

MGIC Investment Company Profile

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MGIC Investment Corporation, through its subsidiaries, provides private mortgage insurance, other mortgage credit risk management solutions, and ancillary services to lenders and government sponsored entities in the United States, Puerto Rico, and Guam. The company offers primary mortgage insurance that provides mortgage default protection on individual loans, as well as covers unpaid loan principal, delinquent interest, and various expenses associated with the default and subsequent foreclosure.

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