BlackRock Amends MGIC Stake, Signals Continued Confidence
Ticker: MTG · Form: SC 13G/A · Filed: 2024-01-25T00:00:00.000Z
Sentiment: neutral
Topics: institutional-ownership, amendment, passive-investment
TL;DR
**BlackRock still holds MGIC shares, signaling institutional confidence.**
AI Summary
BlackRock, Inc. filed an amended SC 13G/A on January 25, 2024, disclosing its ownership of MGIC Investment Corporation's common stock as of December 31, 2023. This filing, Amendment No. 3, indicates BlackRock's continued significant stake in MGIC, a surety insurance company. This matters to investors because BlackRock is a major institutional investor, and its sustained or altered position can signal confidence or concern about MGIC's future performance and stability.
Why It Matters
BlackRock's updated filing shows its ongoing substantial investment in MGIC, which can influence market perception and investor sentiment for the stock.
Risk Assessment
Risk Level: low — This filing is a routine update from a major institutional investor and does not indicate any immediate negative or positive catalysts.
Analyst Insight
An investor should note BlackRock's continued presence as a major shareholder, but this filing alone doesn't provide enough information to make a buy/sell decision; further research into MGIC's fundamentals and BlackRock's overall investment strategy would be prudent.
Key Players & Entities
- BlackRock, Inc. (company) — the reporting person and institutional investor
- MGIC Investment Corporation (company) — the subject company whose securities are being reported
- December 31, 2023 (date) — the date of the event requiring the filing
- January 25, 2024 (date) — the filing date of the SC 13G/A
- Amendment No. 3 (number) — the specific amendment number of the filing
Forward-Looking Statements
- BlackRock will maintain a significant stake in MGIC Investment Corporation throughout 2024. (BlackRock, Inc.) — medium confidence, target: December 31, 2024
FAQ
What type of filing is this document?
This document is an SC 13G/A, which is an amendment to a Schedule 13G, as indicated by 'FORM TYPE: SC 13G/A' and 'SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No: 3)'.
Who is the reporting person in this filing?
The reporting person is BlackRock, Inc., as stated under 'FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: BlackRock Inc.' and '(1)Names of reporting persons. BlackRock, Inc.'.
What is the subject company whose securities are being reported?
The subject company is MGIC Investment Corporation, as identified under 'SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: MGIC INVESTMENT CORP' and '(Name of Issuer) MGIC INVESTMENT CORPORATION'.
What was the date of the event that required this filing?
The date of the event which required this filing was December 31, 2023, as specified under '(Date of Event Which Requires Filing of this Statement) December 31, 2023'.
What is the CUSIP number for the securities reported?
The CUSIP number for the Common Stock of MGIC Investment Corporation is 552848103, as listed under '(CUSIP Number) 552848103'.
From the Filing
EDGAR Filing Documents for 0001086364-24-003363 This page uses Javascript. Your browser either doesn't support Javascript or you have it turned off. To see this page as it is meant to appear please use a Javascript enabled browser. SEC.gov EDGAR Latest Filings Filings search tools Filing Detail SEC Home Company Search Current Page Form SC 13G/A - Statement of Beneficial Ownership by Certain Investors: [Amend] SEC Accession No. 0001086364-24-003363 Filing Date 2024-01-25 Accepted 2024-01-25 13:48:56 Documents 1 Document Format Files Seq Description Document Type Size 1 us5528481030_012524.txt SC 13G/A 11867 Complete submission text file 0001086364-24-003363.txt 13639 Mailing Address 250 EAST KILBOURN AVENUE MILWAUKEE WI 53202 Business Address 250 EAST KILBOURN AVENUE MILWAUKEE WI 53202 4143476480 MGIC INVESTMENT CORP (Subject) CIK : 0000876437 (see all company filings) EIN. : 391486475 | State of Incorp.: WI | Fiscal Year End: 1231 Type: SC 13G/A | Act: 34 | File No.: 005-42056 | Film No.: 24561138 SIC : 6351 Surety Insurance (CF Office: 02 Finance) Mailing Address 50 HUDSON YARDS NEW YORK NY 10001 Business Address 50 HUDSON YARDS NEW YORK NY 10001 212-810-5300 BlackRock Inc. (Filed by) CIK : 0001364742 (see all company filings) EIN. : 320174431 | State of Incorp.: DE | Fiscal Year End: 1231 Type: SC 13G/A SIC : 6211 Security Brokers, Dealers & Flotation Companies (CF Office: 02 Finance)