MGIC Investment (NYSE:MTG) Posts Quarterly Earnings Results

MGIC Investment (NYSE:MTG) posted its quarterly earnings results on Monday. The insurance provider reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates 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 Trading Up 1.7 %

Shares of MTG opened at $25.57 on Wednesday. MGIC Investment has a fifty-two week low of $18.68 and a fifty-two week high of $26.56. The company has a market capitalization of $6.48 billion, a PE ratio of 9.00, a price-to-earnings-growth ratio of 2.02 and a beta of 1.29. The stock has a fifty day moving average of $24.53 and a two-hundred day moving average of $24.72. 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 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 5th. Shareholders of record on Tuesday, February 18th will be paid a $0.13 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $0.52 annualized dividend and a yield of 2.03%. MGIC Investment’s payout ratio is currently 18.31%.

Analyst Ratings Changes

MTG has been the topic of several recent analyst reports. Keefe, Bruyette & Woods lowered their target price on shares of MGIC Investment from $29.00 to $28.00 and set a “market perform” rating on the stock in a research report on Wednesday, January 8th. Bank of America downgraded shares of MGIC Investment from a “buy” rating to an “underperform” rating and dropped their target price for the company from $26.00 to $25.00 in a report on Monday, December 9th. Royal Bank of Canada dropped their price objective on shares of MGIC Investment from $28.00 to $27.00 and set a “sector perform” rating for the company in a research note on Wednesday, November 6th. Finally, Barclays upped their target price on MGIC Investment from $23.00 to $24.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, MGIC Investment 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.