Zacks Research Weighs in on MGIC Investment FY2024 Earnings

MGIC Investment Co. (NYSE:MTG - Free Report) - Equities researchers at Zacks Research boosted their FY2024 EPS estimates for shares of MGIC Investment in a note issued to investors on Monday, November 25th. Zacks Research analyst R. Department now forecasts that the insurance provider will post earnings of $2.84 per share for the year, up from their previous estimate of $2.71. The consensus estimate for MGIC Investment's current full-year earnings is $2.81 per share. Zacks Research also issued estimates for MGIC Investment's Q1 2025 earnings at $0.61 EPS, Q2 2025 earnings at $0.66 EPS, Q3 2025 earnings at $0.66 EPS, Q4 2025 earnings at $0.69 EPS, FY2025 earnings at $2.63 EPS, Q1 2026 earnings at $0.61 EPS, Q2 2026 earnings at $0.65 EPS, Q3 2026 earnings at $0.69 EPS and FY2026 earnings at $2.63 EPS.

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

Other research analysts have also issued research reports about the stock. BTIG Research raised their price target on shares of MGIC Investment from $22.00 to $25.00 and gave the stock a "buy" rating in a report on Monday, August 5th. Royal Bank of Canada dropped their target price on shares of MGIC Investment from $28.00 to $27.00 and set a "sector perform" rating on the stock in a report on Wednesday, November 6th. Barclays increased their price target on MGIC Investment from $23.00 to $24.00 and gave the stock an "equal weight" rating in a report on Tuesday, October 8th. Finally, Roth Mkm boosted their price objective on MGIC Investment from $24.00 to $30.00 and gave the company a "buy" rating in a research note on Friday, August 2nd. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $25.50.

MGIC Investment Trading Up 0.0 %

NYSE MTG traded up $0.01 on Wednesday, reaching $26.12. The company had a trading volume of 1,012,514 shares, compared to its average volume of 1,750,112. The firm has a market cap of $6.62 billion, a price-to-earnings ratio of 9.20, a P/E/G ratio of 1.91 and a beta of 1.28. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.25 and a quick ratio of 1.25. MGIC Investment has a fifty-two week low of $17.31 and a fifty-two week high of $26.56. The business has a 50 day moving average of $25.24 and a two-hundred day moving average of $23.64.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Versant Capital Management Inc raised its position in shares of MGIC Investment by 482.7% during the second quarter. Versant Capital Management Inc now owns 1,142 shares of the insurance provider's stock worth $25,000 after purchasing an additional 946 shares during the period. Hara Capital LLC bought a new stake in MGIC Investment during the 3rd quarter valued at $25,000. V Square Quantitative Management LLC acquired a new position in MGIC Investment during the third quarter worth $33,000. GAMMA Investing LLC lifted its stake in shares of MGIC Investment by 76.2% in the second quarter. GAMMA Investing LLC now owns 3,071 shares of the insurance provider's stock valued at $66,000 after buying an additional 1,328 shares in the last quarter. Finally, Brooklyn Investment Group acquired a new position in shares of MGIC Investment during the third quarter valued at about $69,000. Institutional investors own 95.58% of the company's stock.

MGIC Investment Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 7th were paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date was Thursday, November 7th. MGIC Investment's dividend payout ratio (DPR) is currently 18.31%.

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.