MGIC Investment Q4 EPS Estimate Decreased by Roth Capital

MGIC Investment Co. (NYSE:MTG - Free Report) - Investment analysts at Roth Capital reduced their Q4 2024 earnings per share (EPS) estimates for shares of MGIC Investment in a note issued to investors on Tuesday, November 5th. Roth Capital analyst H. Fong now expects that the insurance provider will earn $0.66 per share for the quarter, down from their prior forecast of $0.68. The consensus estimate for MGIC Investment's current full-year earnings is $2.76 per share. Roth Capital also issued estimates for MGIC Investment's Q3 2025 earnings at $0.69 EPS, Q4 2025 earnings at $0.71 EPS and FY2026 earnings at $2.95 EPS.

MGIC Investment (NYSE:MTG - Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The insurance provider reported $0.77 EPS for the quarter, beating analysts' consensus estimates of $0.66 by $0.11. The company had revenue of $306.65 million for the quarter, compared to analyst estimates of $306.03 million. MGIC Investment had a return on equity of 15.14% and a net margin of 64.09%. The company's quarterly revenue was up 3.4% compared to the same quarter last year. During the same period last year, the company earned $0.64 earnings per share.

A number of other research analysts have also commented on MTG. Barclays raised 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. Royal Bank of Canada dropped their price objective on MGIC Investment from $28.00 to $27.00 and set a "sector perform" rating on the stock in a research note on Wednesday. Roth Mkm raised their target price on MGIC Investment from $24.00 to $30.00 and gave the company a "buy" rating in a research note on Friday, August 2nd. Finally, BTIG Research lifted their target price on MGIC Investment from $22.00 to $25.00 and gave the stock a "buy" rating in a report on Monday, August 5th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $25.50.

MGIC Investment Price Performance

MGIC Investment stock traded down $0.13 during trading hours on Thursday, hitting $24.56. 2,414,593 shares of the company traded hands, compared to its average volume of 1,777,826. The firm's 50-day simple moving average is $25.24 and its two-hundred day simple moving average is $23.18. The firm has a market cap of $6.37 billion, a P/E ratio of 8.65, a P/E/G ratio of 1.25 and a beta of 1.28. MGIC Investment has a 1-year low of $17.25 and a 1-year high of $26.52. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.13.

MGIC Investment Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date is Thursday, November 7th. MGIC Investment's dividend payout ratio (DPR) is presently 18.31%.

Institutional Investors Weigh In On MGIC Investment

Several hedge funds have recently modified their holdings of MTG. Jupiter Asset Management Ltd. raised its holdings in MGIC Investment by 134.8% during the 1st quarter. Jupiter Asset Management Ltd. now owns 1,537,972 shares of the insurance provider's stock worth $34,389,000 after buying an additional 882,984 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of MGIC Investment by 3.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 15,145,206 shares of the insurance provider's stock valued at $326,375,000 after acquiring an additional 556,859 shares in the last quarter. WINTON GROUP Ltd boosted its stake in MGIC Investment by 440.3% in the 2nd quarter. WINTON GROUP Ltd now owns 521,001 shares of the insurance provider's stock worth $11,228,000 after purchasing an additional 424,580 shares during the period. Vest Financial LLC grew its position in MGIC Investment by 22.7% during the 2nd quarter. Vest Financial LLC now owns 1,073,756 shares of the insurance provider's stock worth $23,139,000 after purchasing an additional 198,553 shares in the last quarter. Finally, CX Institutional acquired a new stake in MGIC Investment during the 3rd quarter valued at $4,911,000. 95.58% of the stock is owned by hedge funds and other institutional investors.

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.