Biggest Losers - Insurance Stocks - MTG, PMI, ABK

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MGIC Investment Corp. (NYSE:MTG) was one of the most active losers in today`s trading sessions as it plunged over 8.82% to end the day at $3.93 on huge volume of 6.91 million shares after the company was downgraded by Fitch Ratings after posting its ninth straight quarterly loss. An MGIC spokesman said the Fitch decision has no impact on the relationship MGIC has with Fannie Mae or Freddie Mac, both government-chartered financial institutions.

The PMI Group, Inc. (NYSE:PMI) was one of the most active losers as it slipped over 15.70% to $2.04 on huge volume of 6.61 million shares. The stock has jumped over 168% in last six months of trading sessions so far. The stock has a 52-week range of $0.26 to $4.96. The PMI Group, Inc. provides residential mortgage insurance products designed to promote homeownership. The Company’s United States customers are primarily mortgage lenders, depository institutions, commercial banks and investors, including Fannie Mae and Freddie Mac.

Ambac Financial Group, Inc. (NYSE:ABK) declined 8.70% to close at $1.05 on huge volume of 10.06 million shares. The stock has jumped over 16% in last six months of trading sessions so far. The stock has a 52-week range of $0.35 to $3.58. Ambac Financial Group, Inc. is a primarily a holding company. The Company, through its subsidiaries, provides financial guarantees and financial services to clients in both the public and private sectors worldwide.