As Mgic Invt Corp Wis (MTG) Market Value Declined, Heartland Advisors INC Lowered Stake by $8.16 Million

July 13, 2018 - By Michele Cranor

MGIC Investment Corporation (NYSE:MTG) LogoInvestors sentiment decreased to 0.88 in 2018 Q1. Its down 0.44, from 1.32 in 2017Q4. It dropped, as 38 investors sold MTG shares while 100 reduced holdings. 35 funds opened positions while 87 raised stakes. 331.27 million shares or 1.30% less from 335.64 million shares in 2017Q4 were reported. Sg Americas Ltd Liability Corporation holds 693,093 shares. Select Equity Group Limited Partnership holds 0% or 1.64 million shares in its portfolio. Amer Century Companies holds 0% in MGIC Investment Corporation (NYSE:MTG) or 307,219 shares. Suntrust Banks owns 30,102 shares for 0% of their portfolio. Qs Investors Ltd Liability, New York-based fund reported 677,491 shares. Bowling Mgmt Ltd Liability Com stated it has 0.33% of its portfolio in MGIC Investment Corporation (NYSE:MTG). First Midwest Natl Bank Division stated it has 0.07% of its portfolio in MGIC Investment Corporation (NYSE:MTG). Cubist Systematic Strategies Limited Liability Company invested 0.06% of its portfolio in MGIC Investment Corporation (NYSE:MTG). Tiaa Cref Invest Mngmt Lc has 1.41M shares. Bluemountain Management Ltd Limited Liability Company accumulated 489,053 shares or 0.15% of the stock. Bancorp Of America Corporation De stated it has 3.07 million shares. Element Capital Mgmt Limited Liability Corporation invested in 11,892 shares. Legg Mason Asset (Japan) Com Limited stated it has 90,400 shares. Odey Asset Mgmt Grp accumulated 125,820 shares. Putnam Ltd accumulated 44,100 shares or 0% of the stock.

Heartland Advisors Inc decreased its stake in Mgic Invt Corp Wis (MTG) by 26.78% based on its latest 2018Q1 regulatory filing with the SEC. Heartland Advisors Inc sold 627,903 shares as the company’s stock declined 26.95% with the market. The institutional investor held 1.72 million shares of the property-casualty insurers company at the end of 2018Q1, valued at $22.32M, down from 2.34M at the end of the previous reported quarter. Heartland Advisors Inc who had been investing in Mgic Invt Corp Wis for a number of months, seems to be less bullish one the $3.95 billion market cap company. The stock decreased 1.10% or $0.12 during the last trading session, reaching $10.75. About 1.75 million shares traded. MGIC Investment Corporation (NYSE:MTG) has declined 2.69% since July 13, 2017 and is downtrending. It has underperformed by 15.26% the S&P500.

Analysts await MGIC Investment Corporation (NYSE:MTG) to report earnings on July, 19. They expect $0.35 earnings per share, up 12.90 % or $0.04 from last year’s $0.31 per share. MTG’s profit will be $128.60 million for 7.68 P/E if the $0.35 EPS becomes a reality. After $0.38 actual earnings per share reported by MGIC Investment Corporation for the previous quarter, Wall Street now forecasts -7.89 % negative EPS growth.

Another recent and important MGIC Investment Corporation (NYSE:MTG) news was published by Seekingalpha.com which published an article titled: “MGIC Investment June insurance in force up 7.2%, delinquencies down 13%” on July 10, 2018.

MGIC Investment Corporation (NYSE:MTG) Ratings Coverage

Among 11 analysts covering MGIC Investment (NYSE:MTG), 8 have Buy rating, 1 Sell and 2 Hold. Therefore 73% are positive. MGIC Investment had 17 analyst reports since January 18, 2018 according to SRatingsIntel. Keefe Bruyette & Woods maintained the shares of MTG in report on Thursday, April 19 with “Buy” rating. The company was maintained on Thursday, January 18 by RBC Capital Markets. The stock of MGIC Investment Corporation (NYSE:MTG) earned “Buy” rating by BTIG Research on Monday, April 9. On Tuesday, April 10 the stock rating was downgraded by RBC Capital Markets to “Hold”. The firm has “Hold” rating given on Tuesday, April 10 by Bank of America. Susquehanna maintained the shares of MTG in report on Tuesday, April 10 with “Buy” rating. B. Riley & Co maintained the shares of MTG in report on Tuesday, April 10 with “Buy” rating. The stock of MGIC Investment Corporation (NYSE:MTG) earned “Buy” rating by Deutsche Bank on Tuesday, April 10. The stock has “Buy” rating by BTIG Research on Thursday, April 26. The rating was maintained by Susquehanna on Wednesday, April 18 with “Buy”.

MGIC Investment Corporation (NYSE:MTG) Institutional Positions Chart

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