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Financial Stocks Updates! MGIC Investment Corp. (MTG), Citigroup Inc (C)

Shares of MGIC Investment Corp. (NYSE:MTG) ended Friday session in green amid volatile trading. The shares closed up +0.08 points or 1.01% at $8.00 with 2,783,969 shares getting traded. Post opening the session at $7.99, the shares hit an intraday low of $7.91 and an intraday high of $8.08 and the price vacillated in this range throughout the day. The company has a market cap of $2.75 billion and the numbers of outstanding shares have been calculated to be 340.64 million shares.

On Aug. 29, 2016 Mortgage Guaranty Insurance Corporation (MGIC), the principal subsidiary of MGIC Investment Corporation (MTG), mourns the loss of William H. Lacy, retired chairman and chief executive officer (CEO), who passed away on August 28, 2016 of respiratory failure.

On behalf of MGIC, non-executive chairman Curt Culver said:

“It is with great sadness that we announce the passing of my friend and colleague, Bill Lacy. His thoughtful leadership saw MGIC through tremendous changes, and helped shape the company into the industry leader that it remains to this day. On behalf of our Board of Directors, executive management team and employees, we mourn his loss and extend our deepest sympathies to his family.”

Mr. Lacy’s distinguished career with MGIC spanned 28 years, and he was admired and respected for his tenacity and drive. He was appointed president and CEO in 1987. Under his leadership, MGIC emphasized quality underwriting and outstanding customer service which resulted in strong growth in sales and long-term profits.

Shares of Citigroup Inc (NYSE:C) ended Friday session in green amid volatile trading. The shares closed up +1.43 points or 3.12% at $47.23 with 25,563,084 shares getting traded. Post opening the session at $46.33, the shares hit an intraday low of $46.06 and an intraday high of $46.06 and the price vacillated in this range throughout the day. The company has a market cap of $141.51 billion and the numbers of outstanding shares have been calculated to be 2.91 billion shares.

On September 28, 2016 Citi announced that it will join Early Warning’s clearXchange® network, enabling Citi’s online and mobile banking customers to send or receive real-time person-to-person (P2P) payments to or from customers of participating network banks by simply using the recipient’s mobile number or email address. Citi will enable the functionality in early 2017.

“We are pleased to join the clearXchange network, enabling millions of Citi clients to make real-time person-to-person payments to anyone with a U.S. bank account,” said Barry Rodrigues, Head of Global Digital Payments for Citi’s Global Consumer Bank. “As the payments landscape continues to rapidly evolve, Citi is committed to making it easier for our customers to move their money quickly, safely and seamlessly.”

“The addition of Citi represents a significant milestone in Early Warning’s goal to expand the clearXchange network to include all financial institutions nationwide,” said Paul Finch, chief executive officer, Early Warning. “Early Warning is pleased to partner with Citi to provide its customers access to real-time p2p payments across the clearXchange network.”

 

 

About Mary Jones

Mary Jones has been a columnist on financial. Because of having financial background, Mary Jones has been well known in his community regarding writing blogs on financial for many financial news sites and now it is our honor that Mary Jones started writing financial news for us recently.

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