MGIC Investment (NYSE:MTG) Issues Earnings Results

MGIC Investment (NYSE:MTG) posted its quarterly earnings results on Monday. The insurance provider reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.07, Zacks reports. MGIC Investment had a net margin of 64.09% and a return on equity of 14.99%.

MGIC Investment Price Performance

MTG traded down $0.40 on Monday, reaching $25.15. The company had a trading volume of 2,189,847 shares, compared to its average volume of 1,590,934. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.25 and a current ratio of 1.25. MGIC Investment has a 52-week low of $18.68 and a 52-week high of $26.56. The company has a market cap of $6.37 billion, a price-to-earnings ratio of 8.85, a P/E/G ratio of 2.02 and a beta of 1.29. The business has a 50 day simple moving average of $24.55 and a 200 day simple moving average of $24.71.

MGIC Investment Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 5th. Investors of record on Tuesday, February 18th will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 2.07%. The ex-dividend date is Tuesday, February 18th. MGIC Investment’s dividend payout ratio (DPR) is 18.31%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on MTG shares. Barclays boosted their target price on shares of MGIC Investment from $23.00 to $24.00 and gave the company an “equal weight” rating in a report on Tuesday, October 8th. Royal Bank of Canada decreased their price objective on MGIC Investment from $28.00 to $27.00 and set a “sector perform” rating on the stock in a research note on Wednesday, November 6th. Bank of America cut MGIC Investment from a “buy” rating to an “underperform” rating and dropped their price objective for the stock from $26.00 to $25.00 in a report on Monday, December 9th. Finally, Keefe, Bruyette & Woods reduced their target price on MGIC Investment from $29.00 to $28.00 and set a “market perform” rating for the company in a report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $25.86.

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.