FY2024 EPS Estimates for MGIC Investment Lifted by Analyst

MGIC Investment Co. (NYSE:MTG - Free Report) - Stock analysts at Roth Capital boosted their FY2024 earnings per share (EPS) estimates for shares of MGIC Investment in a research report issued on Tuesday, November 5th. Roth Capital analyst H. Fong now forecasts that the insurance provider will post earnings of $2.85 per share for the year, up from their previous forecast of $2.75. 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 Q2 2025 earnings at $0.67 EPS, Q1 2026 earnings at $0.69 EPS, Q2 2026 earnings at $0.73 EPS and Q3 2026 earnings at $0.75 EPS.

MGIC Investment (NYSE:MTG - Get Free Report) last announced its 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. MGIC Investment had a return on equity of 15.14% and a net margin of 64.09%. The business had revenue of $306.65 million during the quarter, compared to analysts' expectations of $306.03 million. During the same quarter in the prior year, the firm earned $0.64 earnings per share. The business's revenue was up 3.4% compared to the same quarter last year.

Several other equities research analysts have also recently commented on the company. Roth Mkm increased their price target on MGIC Investment from $24.00 to $30.00 and gave the company a "buy" rating in a report on Friday, August 2nd. Barclays increased their price target on MGIC Investment from $23.00 to $24.00 and gave the company an "equal weight" rating in a report on Tuesday, October 8th. Royal Bank of Canada cut their price target on MGIC Investment from $28.00 to $27.00 and set a "sector perform" rating for the company in a report on Wednesday. Finally, BTIG Research increased their price target on MGIC Investment from $22.00 to $25.00 and gave the company a "buy" rating in a report on Monday, August 5th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, MGIC Investment has an average rating of "Moderate Buy" and an average price target of $25.50.

MGIC Investment Price Performance

Shares of MGIC Investment stock traded up $0.97 during mid-day trading on Wednesday, reaching $24.82. 2,891,300 shares of the stock traded hands, compared to its average volume of 1,471,846. The business has a 50-day moving average of $25.25 and a 200 day moving average of $23.17. MGIC Investment has a fifty-two week low of $17.25 and a fifty-two week high of $26.52. The stock has a market capitalization of $6.43 billion, a PE ratio of 8.74, a PEG ratio of 1.25 and a beta of 1.28. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.13.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its position in shares of MGIC Investment by 3.8% during the second quarter. Dimensional Fund Advisors LP now owns 15,145,206 shares of the insurance provider's stock worth $326,375,000 after buying an additional 556,859 shares during the period. LSV Asset Management boosted its holdings in MGIC Investment by 1.6% in the first quarter. LSV Asset Management now owns 10,983,325 shares of the insurance provider's stock valued at $245,587,000 after purchasing an additional 174,609 shares during the period. Clearbridge Investments LLC boosted its holdings in MGIC Investment by 2.4% in the first quarter. Clearbridge Investments LLC now owns 6,008,042 shares of the insurance provider's stock valued at $134,340,000 after purchasing an additional 139,562 shares during the period. American Century Companies Inc. boosted its holdings in MGIC Investment by 1.5% in the second quarter. American Century Companies Inc. now owns 3,395,208 shares of the insurance provider's stock valued at $73,167,000 after purchasing an additional 50,307 shares during the period. Finally, Jupiter Asset Management Ltd. boosted its holdings in MGIC Investment by 134.8% in the first quarter. Jupiter Asset Management Ltd. now owns 1,537,972 shares of the insurance provider's stock valued at $34,389,000 after purchasing an additional 882,984 shares during the period. 95.58% of the stock is currently owned by hedge funds and other institutional investors.

MGIC Investment Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 7th will be given a $0.13 dividend. The ex-dividend date is Thursday, November 7th. This represents a $0.52 annualized dividend and a yield of 2.10%. MGIC Investment's payout ratio is 18.31%.

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.