Nfc Investments adds MGIC Investment Corp. (MTG) to its portfolio

MGIC Investment Corp. (MTG) : Nfc Investments added new position in MGIC Investment Corp. during the most recent quarter end. The investment management firm now holds 1,469,910 shares of MGIC Investment Corp. which is valued at $10,906,732 , the company said in a statement filed on Aug 10, 2016 with the SEC.MGIC Investment Corp. makes up approximately 4.85% of Nfc Investments’s portfolio.

Other Hedge Funds, Including , Dynamic Technology Lab Private Ltd sold out all of its stake in MTG during the most recent quarter. The investment firm sold 28,587 shares of MTG which is valued $212,116.Ubs Asset Management Americas Inc boosted its stake in MTG in the latest quarter, The investment management firm added 3,905 additional shares and now holds a total of 241,831 shares of MGIC Investment Corp. which is valued at $1,767,785.Los Angeles Capital Management Equity Research Inc reduced its stake in MTG by selling 286,333 shares or 54.19% in the most recent quarter. The Hedge Fund company now holds 242,018 shares of MTG which is valued at $1,769,152. MGIC Investment Corp. makes up approx 0.01% of Los Angeles Capital Management Equity Research Inc’s portfolio. Diam Ltd. sold out all of its stake in MTG during the most recent quarter. The investment firm sold 142,095 shares of MTG which is valued $1,045,819.

MGIC Investment Corp. (MTG) witnessed a volatile trading activity on Friday , and eventually ended flat at 0.00% or 0 points without letting the bulls or bears take much advantage. The trading began at $7.85 and reached the intraday high at $7.9. The bulls started the profit booking and pushed the shares to intraday low of $7.8. The trading session was marked by a volume range of 41,40,777 shares exchanging hands. The 52-week high of the shares is $10.88 and the 52-week low is $5.36. The market cap of the company stands at $2,681 M and there are 34,06,41,280 shares in public circulation.

On the company’s financial health, MGIC Investment Corp. reported $0.26 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Jul 19, 2016. Analyst had a consensus of $0.20. The company had revenue of $263.50 million for the quarter, compared to analysts expectations of $254.41 million. The company’s revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.28 EPS.

Many Wall Street Analysts have commented on MGIC Investment Corp.. Company shares were Upgraded by Compass Point on Jul 20, 2016 to ” Buy”, Firm has raised the Price Target to $ 9 from a previous price target of $8.50 .Company shares were Reiterated by FBR Capital on Jul 20, 2016 to “Outperform”, Firm has raised the Price Target to $ 9 from a previous price target of $7.50 .MGIC Investment Corp. was Upgraded by FBR Capital to ” Outperform” on Jun 30, 2016.

MGIC Investment Corporation is a holding company. Through its wholly owned subsidiaries the Company provides private mortgage insurance and ancillary services. The Company’s subsidiaries include Mortgage Guaranty Insurance Corporation (MGIC) and MGIC Indemnity Corporation (MIC). 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. Its 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 it also provides various services for the mortgage finance industry such as contract underwriting and portfolio analysis and retention.

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