MGIC Investment (NYSE:MTG – Get Free Report) posted its quarterly earnings results on Wednesday. The insurance provider reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.15, Briefing.com reports. MGIC Investment had a net margin of 62.85% and a return on equity of 15.00%. The business had revenue of $305.28 million during the quarter, compared to analysts’ expectations of $301.02 million. During the same quarter in the prior year, the company posted $0.68 EPS. The business’s revenue for the quarter was up 5.0% on a year-over-year basis.
MGIC Investment Stock Performance
NYSE MTG traded down $0.33 on Thursday, reaching $24.51. The stock had a trading volume of 2,268,612 shares, compared to its average volume of 1,876,435. The stock has a market cap of $6.53 billion, a P/E ratio of 9.54, a price-to-earnings-growth ratio of 3.05 and a beta of 1.28. MGIC Investment has a 12-month low of $16.30 and a 12-month high of $25.93. The business’s 50-day moving average price is $21.88 and its 200 day moving average price is $20.84. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.05 and a current ratio of 1.05.
MGIC Investment Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th will be given a dividend of $0.13 per share. This is a positive change from MGIC Investment’s previous quarterly dividend of $0.12. The ex-dividend date is Thursday, August 8th. This represents a $0.52 annualized dividend and a yield of 2.12%. MGIC Investment’s payout ratio is 17.69%.
Analyst Upgrades and Downgrades
Read Our Latest Research Report on MTG
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.
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