MGIC Investment Corporation (NYSE:MTG) Plans Quarterly Dividend of $0.15

MGIC Investment Corporation (NYSE:MTG) declared a quarterly dividend on Thursday, October 23rd. Stockholders of record on Thursday, November 6th will be given a dividend of 0.15 per share by the insurance provider on Thursday, November 20th. This represents a c) annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Thursday, November 6th.

MGIC Investment has a payout ratio of 17.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect MGIC Investment to earn $2.81 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 18.5%.

MGIC Investment Price Performance

MGIC Investment stock opened at $27.43 on Friday. MGIC Investment has a 12 month low of $21.94 and a 12 month high of $29.01. The stock’s 50 day moving average is $27.79 and its 200-day moving average is $26.63. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $6.32 billion, a price-to-earnings ratio of 8.99, a PEG ratio of 1.98 and a beta of 0.88.

MGIC Investment (NYSE:MTG) last posted its earnings results on Wednesday, July 30th. The insurance provider reported $0.82 EPS for the quarter, beating the consensus estimate of $0.70 by $0.12. MGIC Investment had a return on equity of 14.73% and a net margin of 62.58%.The company had revenue of $304.25 million for the quarter, compared to the consensus estimate of $306.25 million. During the same quarter in the prior year, the business earned $0.77 earnings per share. The firm’s revenue for the quarter was down .3% on a year-over-year basis. Equities research analysts expect that MGIC Investment will post 2.71 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods lifted their price target on shares of MGIC Investment from $26.00 to $27.00 and gave the company a “market perform” rating in a research report on Monday, July 7th. Weiss Ratings reiterated a “buy (a-)” rating on shares of MGIC Investment in a research report on Wednesday, October 8th. Finally, Barclays lifted their price target on shares of MGIC Investment from $27.00 to $28.00 and gave the company a “cautious” rating in a research report on Monday, October 6th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, MGIC Investment currently has an average rating of “Hold” and a consensus price target of $26.83.

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.