SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                  SCHEDULE 13G

                    Under the Securities Exchange Act of 1934
                               (Amendment No. 1)*

                     Name of Issuer:  MGIC Investment Corporation

          Title of Class of Securities:  Common Stock, Par $1.00

                           CUSIP Number:  552848 10 3


Check the following box if a fee is being paid with this statement [  ].
(A fee is not required only if the filing person:  (1) has a previous statement
on file reporting beneficial ownership of more than five percent of the class
of securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7.)

*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. 552848 10 3                  13G



1.  NAME OF REPORTING PERSON
    S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

 Firstar Corporation

2.  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
          (a) [   ]
          (b) [ X ]

3.  SEC USE ONLY


4.  CITIZENSHIP OR PLACE OF ORGANIZATION

 State of organization:  Wisconsin

     NUMBER OF 5.  SOLE VOTING POWER

 SHARES     2,533,898

    BENEFICIALLY  6.  SHARED VOTING POWER

 OWNED BY     610,942

   EACH 7.  SOLE DISPOSITIVE POWER

 REPORTING     2,639,498

  PERSON 8.  SHARED DISPOSITIVE POWER

   WITH  608,442


9.  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 3,260,140 Shares

10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

 [  ]

11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

 5.6%

12. TYPE OF REPORTING PERSON*

 HC


Item 1(a).	Name of Issuer:

  MGIC Investment Corporation


Item 1(b).	Address of Issuer's Principal Executive Offices:

  MGIC Plaza
  250 E. Kilbourn Avenue
  Milwaukee, Wisconsin 53202


Item 2(a).	Name of Person Filing:

  Firstar Corporation


Item 2(b).	Address of Principal Business Office or, if none,
     Residence:

  777 E. Wisconsin Avenue
  Milwaukee, Wisconsin  53202


Item 2(c). Citizenship:

  State of organization:  Wisconsin


Item 2(d). Title of Class of Securities:

  Common Stock, Par $1.00


Item 2(e). CUSIP Number:

  552848 10 3


Item 3. If this statement is filed pursuant to Rules 13d-1(b), or
13d-2(b), check whether the person filing is a:

(a) [ ] Broker or Dealer registered under section 15 of the Act

(b) [ ] Bank as defined in section 3(a)(6) of the Act

(c) [ ] Insurance Company as defined in section 3(a)(19) of the
     Act

(d) [ ] Investment Company registered under section 8 of the
     Investment Company Act


(e) [ ] Investment Adviser registered under section 203 of the
     Investment Advisers Act of 1940

(f) [ ] Employee Benefit Plan, Pension Fund which is subject to
     the provisions of the Employee Retirement Income
     Security Act of 1974 or Endowment Fund; see
   240.13d-1(b)(1)(ii)(F)

(g) [X] Parent Holding Company, in accordance with
     240.13d-1(b)(ii)(G) (Note: See Item 7)

(h) [ ] Group, in accordance with 240.13d-1(b)(1)(ii)(H)



Item 4. Ownership:

(a) Amount Beneficially Owned as of December 31, 1993:

   3,260,140 shares

(b) Percent of Class:

   5.6%

(c) Number of Shares as to which such person has:

        (i) sole power to vote or to direct the vote:

    2,533,898 shares

       (ii) shared power to vote or to direct the vote:

    610,942 shares

    (iii) sole power to dispose or to direct the
   disposition of:

    2,639,498 shares

       (iv) shared power to dispose or to direct the
   disposition of:

    608,442


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 [ ].


Item 6. Ownership of More than Five Percent on Behalf of Another Person.


Other persons are known to have the right to receive or the power
to direct the receipt of dividends from, or the proceeds from the
     sale of, shares beneficially owned by the filing person.  Except
     for any person identified immediately below, such rights do not
     extend to shares constituting more than 5% of the class.


  None


Item 7. Identification and Classification of the Subsidiary Which Acquired
      the Security Being Reported on By the Parent Holding Company.


  See Exhibit attached



Item 8. Identification and Classification of Members of the Group.


Not Applicable



Item 9. Notice of Dissolution of Group.


     Not Applicable



Item 10. Certification.


  Not Applicable


Signature.

 After reasonable inquiry and to the best of my knowledge and belief, I
Certify that the information set forth in this statement is true, complete and
correct.




Date:  February 11, 1994

FIRSTAR CORPORATION



By: /S/  William H. Risch



Name/Title:  William H. Risch
             Senior Vice President - Finance
   & Treasurer


Exhibit to Item 7:  Identification and Classifications of Subsidiaries

   Firstar Bank Madison, N.A.   - BK
   Firstar Bank Eau Claire, N.A.  - BK
   Firstar Bank Oshkosh, N.A.   - BK
   Firstar Trust Company    - BK
   Firstar Corporation of Wisconsin
   Firstar Bank Sheboygan, N.A.   - BK
   Firstar Trust Company of Florida, N.A. - BK
   Firstar Trust Company of Minnesota
   Firstar Corporation of Minnesota
   Firstar Trust Company of Illinois
   Firstar Corporation of Illinois
   Firstar Corporation of Iowa
   Firstar Bank Cedar Rapids, N.A.  - BK
   Firstar Bank Davenport, N.A.   - BK
   Firstar Bank Council Bluffs   - BK
   Firstar Bank Des Moines, N.A.  - BK
   Firstar Investment Research and
      Management Company			- IA