Russell Investments Group Ltd. Has $3.71 Million Stake in MGIC Investment Co. (NYSE:MTG)

Russell Investments Group Ltd. lowered its stake in shares of MGIC Investment Co. (NYSE:MTG - Free Report) by 8.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 156,468 shares of the insurance provider's stock after selling 15,253 shares during the quarter. Russell Investments Group Ltd. owned about 0.06% of MGIC Investment worth $3,710,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Allianz Asset Management GmbH lifted its holdings in shares of MGIC Investment by 8.2% during the 4th quarter. Allianz Asset Management GmbH now owns 5,495,115 shares of the insurance provider's stock worth $130,289,000 after acquiring an additional 415,586 shares during the period. Norges Bank bought a new stake in shares of MGIC Investment during the 4th quarter valued at approximately $85,908,000. NewEdge Wealth LLC lifted its stake in MGIC Investment by 11.6% in the 4th quarter. NewEdge Wealth LLC now owns 1,837,821 shares of the insurance provider's stock valued at $43,575,000 after purchasing an additional 190,450 shares during the last quarter. Franklin Resources Inc. boosted its position in MGIC Investment by 1.6% in the fourth quarter. Franklin Resources Inc. now owns 1,647,936 shares of the insurance provider's stock valued at $39,072,000 after buying an additional 26,098 shares in the last quarter. Finally, Vest Financial LLC grew its stake in shares of MGIC Investment by 33.4% during the fourth quarter. Vest Financial LLC now owns 1,485,140 shares of the insurance provider's stock worth $35,213,000 after buying an additional 371,882 shares during the last quarter. 95.58% of the stock is currently owned by institutional investors.

MGIC Investment Trading Down 2.6 %

MTG stock traded down $0.62 during midday trading on Monday, hitting $23.41. The stock had a trading volume of 1,707,720 shares, compared to its average volume of 1,803,786. The company has a current ratio of 0.48, a quick ratio of 1.25 and a debt-to-equity ratio of 0.12. The business has a fifty day moving average price of $23.89 and a two-hundred day moving average price of $24.48. MGIC Investment Co. has a 1-year low of $19.81 and a 1-year high of $26.56. The firm has a market cap of $5.68 billion, a P/E ratio of 8.07 and a beta of 0.93.

MGIC Investment (NYSE:MTG - Get Free Report) last announced its earnings results on Monday, February 3rd. The insurance provider reported $0.72 EPS for the quarter, beating the consensus estimate of $0.65 by $0.07. MGIC Investment had a return on equity of 14.86% and a net margin of 63.18%. On average, sell-side analysts predict that MGIC Investment Co. will post 2.71 earnings per share for the current fiscal year.

MGIC Investment Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Tuesday, February 18th were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 2.22%. The ex-dividend date of this dividend was Tuesday, February 18th. MGIC Investment's dividend payout ratio is presently 17.93%.

Insider Buying and Selling at MGIC Investment

In other news, CAO Julie K. Sperber sold 4,600 shares of the business's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $24.55, for a total transaction of $112,930.00. Following the completion of the sale, the chief accounting officer now owns 75,070 shares in the company, valued at $1,842,968.50. The trade was a 5.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.05% of the company's stock.

Analyst Upgrades and Downgrades

MTG has been the topic of a number of research reports. UBS Group boosted their price objective on MGIC Investment from $25.00 to $26.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 19th. Keefe, Bruyette & Woods cut their target price on shares of MGIC Investment from $28.00 to $26.00 and set a "market perform" rating on the stock in a research report on Tuesday, April 8th. Barclays upped their price target on shares of MGIC Investment from $25.00 to $26.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 5th. Finally, Compass Point reissued a "neutral" rating and issued a $27.00 price objective (up previously from $24.00) on shares of MGIC Investment in a research note on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $26.50.

MGIC Investment Profile

MGIC Investment Corporation, through its subsidiaries, provides private mortgage insurance, other mortgage credit risk management solutions, and ancillary services to lenders and government sponsored entities in the United States, the District of Columbia, Puerto Rico, and Guam. The company offers primary mortgage insurance that provides mortgage default protection on individual loans, as well as covers unpaid loan principal, delinquent interest, and various expenses associated with the default and subsequent foreclosure.