MGIC Investment (NYSE:MTG – Get Free Report) posted its quarterly earnings data on Wednesday. The insurance provider reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.15, Briefing.com reports. The company had revenue of $305.28 million for the quarter, compared to the consensus estimate of $301.02 million. MGIC Investment had a net margin of 62.85% and a return on equity of 15.00%. The firm’s revenue was up 5.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.68 earnings per share.
MGIC Investment Price Performance
Shares of MGIC Investment stock traded down $0.34 during trading hours on Thursday, hitting $24.50. The company’s stock had a trading volume of 2,268,822 shares, compared to its average volume of 1,876,437. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.05 and a current ratio of 1.05. MGIC Investment has a 12-month low of $16.30 and a 12-month high of $25.93. The business has a 50 day moving average price of $21.88 and a two-hundred day moving average price of $20.84. The company has a market cap of $6.53 billion, a PE ratio of 9.54, a PEG ratio of 3.05 and a beta of 1.28.
MGIC Investment Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th will be issued a dividend of $0.13 per share. The ex-dividend date of this dividend is Thursday, August 8th. This is a boost from MGIC Investment’s previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a yield of 2.12%. MGIC Investment’s dividend payout ratio (DPR) is currently 17.69%.
Wall Street Analyst Weigh In
Get Our Latest Stock Analysis on MGIC Investment
About MGIC Investment
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.
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