JPMorgan Chase Discloses Passive Stake in MGIC Investment Corp.

TL;DR

**JPMorgan Chase just revealed a passive stake in MGIC, signaling institutional confidence.**

AI Summary

JPMorgan Chase & Co. filed an SC 13G on January 10, 2024, disclosing its ownership of common stock in MGIC Investment Corporation (NYSE: MTG) as of December 29, 2023. This filing indicates that JPMorgan Chase & Co. holds a significant, though passive, stake in MGIC, a surety insurance company. This matters to investors because it signals a major financial institution's confidence in MGIC, potentially influencing market perception and stock stability.

Why It Matters

A large institutional investor like JPMorgan Chase & Co. taking a position in MGIC Investment Corporation can be seen as a vote of confidence, potentially attracting other investors and stabilizing the stock.

Risk Assessment

Risk Level: low — This filing is a routine disclosure of passive ownership by a large institution, which generally reduces rather than increases risk for existing shareholders.

Analyst Insight

A smart investor would view this as a positive signal, indicating institutional confidence in MGIC Investment Corporation, and might consider further research into the company's fundamentals or maintaining their current position.

Key Players & Entities

• JPMorgan Chase & Co. (company) — filer of the SC 13G, holding a stake in MGIC Investment Corporation
• MGIC Investment Corporation (company) — the subject company whose common stock is being reported
• December 29, 2023 (date) — the date of the event which required the filing of this statement
• January 10, 2024 (date) — the filing date of the SC 13G
• Rule 13d-1(b) (other) — the rule under which the Schedule 13G was filed, indicating passive investment intent

Forward-Looking Statements

• MGIC Investment Corporation's stock price may experience increased stability due to institutional backing. (MGIC Investment Corporation) — medium confidence, target: Q1 2024
• Other institutional investors may review or increase their positions in MGIC Investment Corporation following this disclosure. (MGIC Investment Corporation) — low confidence, target: Q2 2024

FAQ

Filing Documents

• MGIC_Investment_Corporatio.htm (SC 13G) — 86KB
• 0000019617-24-000045.txt ( ) — 88KB

From the Filing

SC 13G 1 MGIC_Investment_Corporatio.htm FILING MGIC INVESTMENT CORPORATION Schedule 13G UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. )* MGIC Investment Corporation (Name of Issuer) Common stock (Title of Class of Securities) 552848103 (CUSIP Number) December 29, 2023 (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: x Rule 13d-1(b) o Rule 13d-1(c) o Rule 13d-1(d) * The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). CUSIP No. 552848103 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) JPMORGAN CHASE & CO. 13-2624428 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) o (b) o 3 SEC USE ONLY 4 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH: 5 SOLE VOTING POWER 13,882,156 6 SHARED VOTING POWER 282 7 SOLE DISPOSITIVE POWER 14,748,567 8 SHARED DISPOSITIVE POWER 282 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 14,774,488 10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) o 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 5.3 % 12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) HC FOOTNOTES Item 1. (a) Name of Issuer MGIC Investment Corporation (b) Address of Issuer's Principal Executive Offices 250 E. Kilbourn Avenue, Milwaukee, Wisconsin 53202 Item 2. (a) Name of Person Filing JPMORGAN CHASE & CO. (b) Address of Principal Business Office or, if none, Residence 383 Madison Avenue New York, NY 10179 (c) Citizenship Delaware (d) Title of Class of Securities Common stock (e) CUSIP Number 552848103 Item 3. If this statement is filed pursuant to 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a: (a) o Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o). (b) o Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c). (c) o Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c). (d) o Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C 80a-8). (e) o An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E); (f) o An employee benefit plan or endowment fund in accordance with 240.13d-1(b)(1)(ii)(F); (g) x A parent holding company or control person in accordance with 240.13d-1(b)(1)(ii)(G); (h) o A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) o A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); (j) o A non-U.S. institution in accordance with 240.13d-1(b)(1)(ii)(J). (k) o A group, in accordance with 240.13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with 240.13d-1(b)(1)(ii)(J), please specify the type of institution: Item 4. Ownership. Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1. (a) Amount beneficially owned: 14,774,488 (b) Percent of class: 5.3 % (c) Number of shares as to which the person has: (i) Sole power to vote or to direct the vote: 13,882,156 (ii) Shared power to vote or to direct the vote: 282 (iii) Sole power to dispose or to direct the disposition of: 14,748,567 (iv) Shared power to dispose or to direct the disposition of: 282 Item 5. Ownership of Five Percent or Less of a Class If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following o . Item 6. Ownership of More than Five Percent on Behalf of Another Person. Not Applicable Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company J.P. Morgan Trust Company of Delaware J.P. Morgan Securities LLC JPMorgan Chase Bank, National Association JPMorgan Asse