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

MGIC Investment Co. (NYSE:MTG - Get Free Report) declared a quarterly dividend on Thursday, October 24th, RTT News reports. Stockholders of record on Thursday, November 7th will be paid a dividend of 0.13 per share by the insurance provider on Thursday, November 21st. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.04%.

MGIC Investment has increased its dividend by an average of 21.5% annually over the last three years. MGIC Investment has a dividend payout ratio of 18.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect MGIC Investment to earn $2.76 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 18.8%.

MGIC Investment Price Performance

Shares of NYSE MTG traded up $0.15 during midday trading on Thursday, reaching $25.55. 1,142,010 shares of the company traded hands, compared to its average volume of 1,751,671. The stock's 50-day simple moving average is $25.20 and its 200-day simple moving average is $22.84. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.11 and a current ratio of 1.11. MGIC Investment has a 12 month low of $16.32 and a 12 month high of $26.52. The firm has a market cap of $6.81 billion, a PE ratio of 9.83, a PEG ratio of 1.35 and a beta of 1.28.

MGIC Investment (NYSE:MTG - Get Free Report) last released its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $0.77 EPS for the quarter, beating analysts' consensus estimates of $0.62 by $0.15. The firm had revenue of $305.28 million for the quarter, compared to analyst estimates of $301.02 million. MGIC Investment had a net margin of 63.19% and a return on equity of 14.97%. The company's revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.68 earnings per share. As a group, equities analysts anticipate that MGIC Investment will post 2.76 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

MTG has been the topic of a number of research analyst reports. BTIG Research increased their price target on MGIC Investment from $22.00 to $25.00 and gave the stock a "buy" rating in a research report on Monday, August 5th. Roth Mkm boosted their price objective on MGIC Investment from $24.00 to $30.00 and gave the stock a "buy" rating in a research note on Friday, August 2nd. Finally, Barclays raised 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. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, MGIC Investment currently has an average rating of "Moderate Buy" and a consensus target price of $24.50.

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.