MGIC Investment Corporation (MTG) to Distribute Quarterly Dividend of $0.17 on November 23rd

MGIC Investment Corporation (NYSE:MTG) announced a quarterly dividend on Thursday, October 29th. Stockholders of record on Thursday, November 12th will be given a dividend of $0.17 per share by the insurance provider on Monday, November 23rd. This represents a $0.68 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Thursday, November 12th.

MGIC Investment has increased its dividend payment by an average of 0.2% annually over the last three years and has raised its dividend every year for the last 6 years. MGIC Investment has a payout ratio of 22.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect MGIC Investment to earn $3.37 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 20.2%.

MGIC Investment Trading Down 1.5%

Shares of MGIC Investment stock opened at $28.43 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.19 and a current ratio of 1.19. MGIC Investment has a 1 year low of $24.69 and a 1 year high of $31.89. The company’s fifty day moving average is $29.03 and its two-hundred day moving average is $27.75. The company has a market capitalization of $5.83 billion, a P/E ratio of 8.99, a PEG ratio of 1.02 and a beta of 0.67.

MGIC Investment (NYSE:MTG) last posted its quarterly earnings data on Wednesday, July 29th. The insurance provider reported $0.87 EPS for the quarter, beating the consensus estimate of $0.76 by $0.11. MGIC Investment had a return on equity of 13.90% and a net margin of 59.20%. The firm had revenue of $295.39 million during the quarter, compared to the consensus estimate of $297.54 million. During the same period in the prior year, the business earned $0.82 EPS. The firm’s revenue was down 2.9% compared to the same quarter last year. Analysts forecast that MGIC Investment will post 3.22 earnings per share for the current year.

About MGIC Investment

MGIC Investment Corporation (NYSE:MTG) is a holding company whose principal subsidiary is Mortgage Guaranty Insurance Corporation (MGIC), a provider of private mortgage insurance in the United States. MGIC’s insurance helps protect mortgage lenders and investors against losses when borrowers default, enabling qualified homebuyers to obtain mortgages with smaller down payments.

MGIC primarily offers primary mortgage insurance for residential loans, working with mortgage lenders, banks and other housing-finance institutions.