MGIC Investment Co. Plans Quarterly Dividend of $0.13 (NYSE:MTG)

MGIC Investment Co. (NYSE:MTG - Get Free Report) announced a quarterly dividend on Tuesday, January 28th,RTT News reports. Shareholders of record on Tuesday, February 18th will be given a dividend of 0.13 per share by the insurance provider on Wednesday, March 5th. This represents a $0.52 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date of this dividend is Tuesday, February 18th.

MGIC Investment has increased its dividend payment by an average of 20.5% annually over the last three years. MGIC Investment has a payout ratio of 17.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect MGIC Investment to earn $2.71 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 19.2%.

MGIC Investment Price Performance

Shares of NYSE MTG traded down $0.22 during midday trading on Friday, hitting $25.50. The company had a trading volume of 720,408 shares, compared to its average volume of 1,505,116. The firm has a market capitalization of $6.46 billion, a price-to-earnings ratio of 8.97, a price-to-earnings-growth ratio of 1.90 and a beta of 1.29. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.12. The business has a 50-day simple moving average of $24.55 and a two-hundred day simple moving average of $24.68. MGIC Investment has a twelve month low of $18.68 and a twelve month high of $26.56.

MGIC Investment (NYSE:MTG - Get Free Report) last announced its earnings results on Monday, November 4th. The insurance provider reported $0.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.66 by $0.11. The company had revenue of $306.65 million during the quarter, compared to analysts' expectations of $306.03 million. MGIC Investment had a net margin of 64.09% and a return on equity of 14.99%. The firm's quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.64 earnings per share. Equities research analysts anticipate that MGIC Investment will post 2.85 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on MTG shares. Barclays raised their price target 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. Keefe, Bruyette & Woods dropped their price target on shares of MGIC Investment from $29.00 to $28.00 and set a "market perform" rating for the company in a research report on Wednesday, January 8th. Bank of America cut shares of MGIC Investment from a "buy" rating to an "underperform" rating and lowered their price objective for the company from $26.00 to $25.00 in a research note on Monday, December 9th. Finally, Royal Bank of Canada lowered their price target 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. One 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.com, the company presently has a consensus 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.