MGIC Investment (NYSE:MTG) Posts Quarterly Earnings Results, Beats Estimates By $0.07 EPS

MGIC Investment (NYSE:MTG) released its earnings results on Monday. The insurance provider reported $0.72 EPS 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 Price Performance

Shares of MTG stock traded down $0.40 on Monday, reaching $25.15. The company’s stock had a trading volume of 2,189,847 shares, compared to its average volume of 1,590,934. The stock’s fifty day simple moving average is $24.55 and its 200-day simple moving average is $24.71. MGIC Investment has a 1 year low of $18.68 and a 1 year high of $26.56. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $6.37 billion, a price-to-earnings ratio of 8.85, a price-to-earnings-growth ratio of 2.02 and a beta of 1.29.

MGIC Investment Dividend Announcement

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

Analysts Set New Price Targets

A number of research firms have commented on MTG. Keefe, Bruyette & Woods decreased 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 note on Wednesday, January 8th. Bank of America cut shares of MGIC Investment from a “buy” rating to an “underperform” rating and decreased their target price for the stock from $26.00 to $25.00 in a research note on Monday, December 9th. Barclays raised their target price on shares of MGIC Investment from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 8th. Finally, Royal Bank of Canada cut 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 report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average 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.