MGIC Investment (NYSE:MTG) Announces Earnings Results, Beats Expectations By $0.07 EPS

MGIC Investment (NYSE:MTG) issued its quarterly earnings results on Monday. The insurance provider reported $0.72 EPS for the quarter, topping 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

Shares of MTG stock opened at $25.15 on Tuesday. The firm 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. MGIC Investment has a one year low of $18.68 and a one year high of $26.56. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.25 and a quick ratio of 1.25. The stock’s fifty day simple moving average is $24.55 and its 200 day simple moving average is $24.71.

MGIC Investment Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 5th. Investors 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 dividend on an annualized basis and a yield of 2.07%. MGIC Investment’s payout ratio is currently 18.31%.

Analyst Ratings Changes

MTG has been the subject of several analyst reports. Royal Bank of Canada decreased their target price on MGIC Investment from $28.00 to $27.00 and set a “sector perform” rating for the company in a research report on Wednesday, November 6th. Keefe, Bruyette & Woods decreased their price target 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. Barclays raised their price target 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. Finally, Bank of America lowered shares of MGIC Investment from a “buy” rating to an “underperform” rating and cut their price objective for the stock from $26.00 to $25.00 in a report on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target 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.