MGIC Investment Co. (MTG) to Issue Quarterly Dividend of $0.13 on March 5th

MGIC Investment Co. (NYSE:MTG) declared a quarterly dividend on Tuesday, January 28th,RTT News reports. Shareholders of record on Tuesday, February 18th will be given a dividend of 0.13 per share by the insurance provider on Wednesday, March 5th. This represents a $0.52 annualized dividend and a yield of 2.05%. The ex-dividend date is Tuesday, February 18th.

MGIC Investment has increased its dividend by an average of 20.5% per year over the last three years. MGIC Investment has a payout ratio of 17.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect MGIC Investment to earn $2.71 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 19.2%.

MGIC Investment Stock Performance

NYSE MTG opened at $25.36 on Thursday. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $6.43 billion, a price-to-earnings ratio of 8.93, a P/E/G ratio of 1.85 and a beta of 1.29. The firm’s 50 day simple moving average is $24.53 and its 200 day simple moving average is $24.66. MGIC Investment has a 1 year low of $18.68 and a 1 year high of $26.56.

MGIC Investment (NYSE:MTG) last issued its earnings results on Monday, November 4th. The insurance provider reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.11. The firm had revenue of $306.65 million for the quarter, compared to analyst estimates of $306.03 million. MGIC Investment had a net margin of 64.09% and a return on equity of 14.99%. The company’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the business posted $0.64 earnings per share. As a group, research analysts expect that MGIC Investment will post 2.85 earnings per share for the current fiscal year.

Analysts Set New Price Targets

MTG has been the topic of several analyst reports. Barclays boosted their price target on shares of MGIC Investment from $23.00 to $24.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 8th. Keefe, Bruyette & Woods decreased their target price on shares of MGIC Investment from $29.00 to $28.00 and set a “market perform” rating on the stock in a report on Wednesday, January 8th. Bank of America lowered shares of MGIC Investment from a “buy” rating to an “underperform” rating and decreased their price target for the stock from $26.00 to $25.00 in a report on Monday, December 9th. Finally, Royal Bank of Canada cut their price objective on shares of MGIC Investment from $28.00 to $27.00 and set a “sector perform” rating for the company in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target 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.