MGIC Investment (NYSE:MTG) Releases Quarterly Earnings Results, Beats Expectations By $0.07 EPS

MGIC Investment (NYSE:MTG) announced its quarterly earnings results on Monday. The insurance provider reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.07, Zacks reports. MGIC Investment had a net margin of 64.09% and a return on equity of 14.99%.

MGIC Investment Trading Down 1.5 %

MTG traded down $0.40 during trading on Monday, reaching $25.15. 2,190,099 shares of the stock traded hands, compared to its average volume of 1,590,983. 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 stock’s 50-day moving average is $24.55 and its 200 day moving average is $24.71. MGIC Investment has a 12 month low of $18.68 and a 12 month high of $26.56. The stock has a market capitalization of $6.37 billion, a PE ratio of 8.85, a P/E/G ratio of 2.02 and a beta of 1.29.

MGIC Investment Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 5th. Investors of record on Tuesday, February 18th will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date is Tuesday, February 18th. MGIC Investment’s dividend payout ratio is presently 18.31%.

Analysts Set New Price Targets

MTG has been the subject of a number of recent research reports. Bank of America cut MGIC Investment from a “buy” rating to an “underperform” rating and lowered their target price for the stock from $26.00 to $25.00 in a report on Monday, December 9th. Barclays lifted their target price on shares of MGIC Investment from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 8th. Royal Bank of Canada decreased their price target on shares of 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. Finally, Keefe, Bruyette & Woods decreased their price objective on MGIC Investment from $29.00 to $28.00 and set a “market perform” rating for the company in a report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average 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.