MGIC Investment Co. (NYSE:MTG) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. lessened its stake in MGIC Investment Co. (NYSE:MTG - Free Report) by 8.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 156,468 shares of the insurance provider's stock after selling 15,253 shares during the period. Russell Investments Group Ltd. owned 0.06% of MGIC Investment worth $3,710,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in MTG. Barclays PLC increased its position in shares of MGIC Investment by 75.1% in the 3rd quarter. Barclays PLC now owns 457,706 shares of the insurance provider's stock valued at $11,716,000 after acquiring an additional 196,252 shares during the period. Sanctuary Advisors LLC lifted its holdings in shares of MGIC Investment by 395.8% during the third quarter. Sanctuary Advisors LLC now owns 150,637 shares of the insurance provider's stock worth $3,841,000 after purchasing an additional 120,257 shares during the period. World Investment Advisors LLC purchased a new stake in MGIC Investment in the third quarter valued at approximately $619,000. Franklin Resources Inc. increased its holdings in MGIC Investment by 6.5% in the 3rd quarter. Franklin Resources Inc. now owns 1,621,838 shares of the insurance provider's stock worth $41,836,000 after buying an additional 98,369 shares during the period. Finally, DGS Capital Management LLC raised its position in MGIC Investment by 6.2% during the 3rd quarter. DGS Capital Management LLC now owns 85,797 shares of the insurance provider's stock worth $2,196,000 after buying an additional 4,974 shares during the last quarter. 95.58% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MTG. UBS Group increased their price objective on shares of MGIC Investment from $25.00 to $26.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 19th. Keefe, Bruyette & Woods lowered 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 note on Tuesday, April 8th. Barclays increased their price target on MGIC Investment from $25.00 to $26.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 5th. Finally, Compass Point reissued a "neutral" rating and set a $27.00 target price (up 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 given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, MGIC Investment currently has an average rating of "Hold" and an average price target of $26.50.

MGIC Investment Stock Performance

NYSE:MTG traded up $0.19 during midday trading on Friday, reaching $24.03. The stock had a trading volume of 1,681,155 shares, compared to its average volume of 1,803,598. The company has a quick ratio of 1.25, a current ratio of 0.48 and a debt-to-equity ratio of 0.12. The stock has a market cap of $5.83 billion, a P/E ratio of 8.28 and a beta of 0.93. The firm has a fifty day simple moving average of $23.90 and a two-hundred day simple moving average of $24.51. MGIC Investment Co. has a 12-month low of $19.57 and a 12-month high of $26.56.

MGIC Investment (NYSE:MTG - Get Free Report) last released its earnings results on Monday, February 3rd. The insurance provider reported $0.72 EPS for the quarter, beating analysts' consensus estimates 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, equities analysts expect that MGIC Investment Co. will post 2.71 EPS for the current year.

MGIC Investment Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Tuesday, February 18th were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 2.16%. The ex-dividend date was Tuesday, February 18th. MGIC Investment's payout ratio is currently 17.93%.

Insider Buying and Selling

In other news, CAO Julie K. Sperber sold 4,600 shares of the firm's stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $24.55, for a total transaction of $112,930.00. Following the completion of the transaction, the chief accounting officer now directly owns 75,070 shares of the company's stock, valued at $1,842,968.50. This trade represents a 5.77 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.41% of the stock is currently owned by insiders.

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.