MGIC Investment Corporation (MTG) pushed the Insurance industry lower today making it today's featured Insurance loser. The industry as a whole closed the day up 0.6%. By the end of trading, MGIC Investment Corporation fell 11 cents (-3.4%) to $3.16 on light volume. Throughout the day, three million shares of MGIC Investment Corporation exchanged hands as compared to its average daily volume of 6.6 million shares. The stock ranged in price between $3.13-$3.35 after having opened the day at $3.31 as compared to the previous trading day's close of $3.27. Other company's within the Insurance industry that declined today were: CNinsure (CISG), down 15.5%, Affirmative Insurance Holdings (AFFM), down 8.1%, First Acceptance Corporation (FAC), down 4.2%, and Alterra Capital Holdings (ALTE), down 4.1%. MGIC Investment Corporation, through its subsidiaries, provides mortgage insurance to lenders and government sponsored entities in the United States. MGIC Investment Corporation has a market cap of $640.4 million and is part of the financial sector. Shares are down 12.3% year to date as of the close of trading on Wednesday. Currently there are three analysts that rate MGIC Investment Corporation a buy, one analyst rates it a sell, and two rate it a hold. TheStreet Ratings rates MGIC Investment Corporation as a sell. The company's weaknesses can be seen in multiple areas, such as its disappointing return on equity, poor profit margins and generally disappointing historical performance in the stock itself.
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