MGIC Investment Corporation (NYSE:MTG - Free Report) - Research analysts at Roth Capital upped their FY2025 earnings per share (EPS) estimates for shares of MGIC Investment in a report issued on Monday, August 4th. Roth Capital analyst H. Fong now expects that the insurance provider will post earnings of $3.00 per share for the year, up from their previous estimate of $2.90. The consensus estimate for MGIC Investment's current full-year earnings is $2.71 per share.
MTG has been the subject of several other reports. Compass Point restated a "neutral" rating and issued a $28.00 target price (up from $27.00) on shares of MGIC Investment in a report on Friday, May 23rd. Keefe, Bruyette & Woods upped their price target on MGIC Investment from $26.00 to $27.00 and gave the stock a "market perform" rating in a report on Monday, July 7th. Finally, Barclays upped their price target on MGIC Investment from $26.00 to $27.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 8th. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $26.67.
Get Our Latest Analysis on MTG
MGIC Investment Stock Performance
MTG traded up $0.71 on Tuesday, hitting $27.17. The company had a trading volume of 2,097,625 shares, compared to its average volume of 2,360,614. The company's fifty day moving average price is $26.55 and its 200 day moving average price is $25.34. MGIC Investment has a 1-year low of $21.94 and a 1-year high of $28.67. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.46 and a quick ratio of 1.46. The stock has a market cap of $6.26 billion, a price-to-earnings ratio of 8.91, a price-to-earnings-growth ratio of 1.94 and a beta of 0.90.
MGIC Investment (NYSE:MTG - Get Free Report) last posted its earnings results on Wednesday, July 30th. The insurance provider reported $0.82 earnings per share for the quarter, topping 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 firm had revenue of $304.25 million during the quarter, compared to analyst estimates of $306.25 million. During the same period in the previous year, the company earned $0.77 EPS. The company's revenue for the quarter was down .3% on a year-over-year basis.
MGIC Investment Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 21st. Investors of record on Thursday, August 7th will be paid a $0.15 dividend. The ex-dividend date is Thursday, August 7th. This is a positive change from MGIC Investment's previous quarterly dividend of $0.13. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.2%. MGIC Investment's dividend payout ratio is currently 19.67%.
MGIC Investment declared that its board has initiated a stock repurchase program on Thursday, April 24th that authorizes the company to buyback $750.00 million in shares. This buyback authorization authorizes the insurance provider to repurchase up to 12.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board of directors believes its stock is undervalued.
Insider Activity at MGIC Investment
In related news, EVP Paula C. Maggio sold 20,000 shares of the company's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $26.49, for a total value of $529,800.00. Following the completion of the transaction, the executive vice president directly owned 157,395 shares in the company, valued at approximately $4,169,393.55. This represents a 11.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Salvatore A. Miosi sold 30,000 shares of the company's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $26.22, for a total value of $786,600.00. Following the completion of the transaction, the chief operating officer owned 249,401 shares of the company's stock, valued at $6,539,294.22. The trade was a 10.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 189,203 shares of company stock worth $5,010,848. 1.05% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the stock. WPG Advisers LLC acquired a new position in MGIC Investment during the first quarter worth $26,000. True Wealth Design LLC raised its stake in MGIC Investment by 262.5% during the second quarter. True Wealth Design LLC now owns 1,004 shares of the insurance provider's stock worth $28,000 after acquiring an additional 727 shares in the last quarter. Hantz Financial Services Inc. raised its stake in MGIC Investment by 3,067.6% during the second quarter. Hantz Financial Services Inc. now owns 1,077 shares of the insurance provider's stock worth $30,000 after acquiring an additional 1,043 shares in the last quarter. Cullen Frost Bankers Inc. acquired a new position in MGIC Investment during the first quarter worth $33,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in MGIC Investment by 118.0% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,308 shares of the insurance provider's stock worth $36,000 after acquiring an additional 708 shares in the last quarter. 95.58% of the stock is currently owned by institutional investors and hedge funds.
About MGIC Investment
(
Get Free Report)
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.
Read More
Before you consider MGIC Investment, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and MGIC Investment wasn't on the list.
While MGIC Investment currently has a Reduce rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
MarketBeat All Access