MGIC Investment (NYSE:MTG) Announces Earnings Results

MGIC Investment (NYSE:MTG) issued its earnings results on Wednesday. The insurance provider reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.05, Briefing.com reports. MGIC Investment had a return on equity of 14.82% and a net margin of 61.72%. The firm had revenue of $294.40 million for the quarter, compared to the consensus estimate of $301.62 million. During the same quarter in the previous year, the company posted $0.54 earnings per share. The business’s quarterly revenue was up 3.7% compared to the same quarter last year.

MGIC Investment Price Performance

Shares of MGIC Investment stock traded down $0.03 during midday trading on Thursday, hitting $20.52. 2,461,550 shares of the company were exchanged, compared to its average volume of 2,044,600. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.98 and a quick ratio of 0.98. The firm has a market cap of $5.53 billion, a P/E ratio of 8.18, a PEG ratio of 1.67 and a beta of 1.24. MGIC Investment has a 52 week low of $13.97 and a 52 week high of $22.43. The firm has a 50 day simple moving average of $20.52 and a 200-day simple moving average of $19.21.

MGIC Investment Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 21st. Investors of record on Thursday, May 9th will be given a dividend of $0.115 per share. The ex-dividend date of this dividend is Wednesday, May 8th. This represents a $0.46 annualized dividend and a dividend yield of 2.24%. MGIC Investment’s dividend payout ratio (DPR) is presently 18.47%.

Analyst Upgrades and Downgrades

MTG has been the topic of a number of recent research reports. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $24.00 target price (up previously from $23.50) on shares of MGIC Investment in a research note on Thursday, April 4th. Royal Bank of Canada boosted their price objective on MGIC Investment from $18.00 to $21.00 and gave the stock a “sector perform” rating in a research report on Friday, February 2nd. Finally, Roth Mkm raised their price objective on MGIC Investment from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $21.08.

MGIC Investment Company 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.