MGIC Investment (NYSE:MTG) Announces Earnings Results

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

MGIC Investment Stock Up 1.7 %

MGIC Investment stock opened at $25.57 on Wednesday. The stock has a 50 day moving average of $24.53 and a two-hundred day moving average of $24.72. MGIC Investment has a twelve month low of $18.68 and a twelve month high of $26.56. The stock has a market capitalization of $6.48 billion, a price-to-earnings ratio of 9.00, a PEG ratio of 2.02 and a beta of 1.29. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.12.

MGIC Investment Dividend Announcement

The business also recently declared 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 yield of 2.03%. The ex-dividend date is Tuesday, February 18th. MGIC Investment’s dividend payout ratio (DPR) is presently 18.31%.

Analysts Set New Price Targets

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

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.