MGIC Investment Corporation, through its subsidiaries, provides private mortgage insurance and ancillary services to lenders and government sponsored entities in the United States. 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. It also provides contract underwriting services; and other services for the mortgage finance industry, such as analysis of loan originations and portfolios, and mortgage lead generation services, as well as reinsurance arrangements. The company serves originators of residential mortgage loans, including savings institutions, commercial banks, mortgage brokers, credit unions, mortgage bankers, and other lenders. MGIC Investment Corporation was founded in 1957 and is headquartered in Milwaukee, Wisconsin.
Industry, Sector and Symbol
Stock Exchange NYSE
Industry Surety insurance
Sub-IndustryThrifts & Mortgage Finance
SectorFinance
Current SymbolNYSE:MTG
Previous Symbol
CUSIP55284810
Phone414-347-6480
Debt
Debt-to-Equity Ratio0.24
Current Ratio0.35
Quick Ratio0.35
Price-To-Earnings
Trailing P/E Ratio8.05
Forward P/E Ratio6.30
P/E Growth1.27
Sales & Book Value
Annual Sales$1.07 billion
Price / Sales3.72
Cash Flow$1.5657 per share
Price / Cash Flow7.00
Book Value$8.51 per share
Price / Book1.29
Profitability
EPS (Most Recent Fiscal Year)$1.36
Net Income$355.76 million
Net Margins48.63%
Return on Equity20.48%
Return on Assets12.01%
Miscellaneous
Employees819
Outstanding Shares361,590,000
Market Cap$3.98 billion
OptionableOptionable
MGIC Investment (NYSE:MTG) Frequently Asked Questions
What is MGIC Investment's stock symbol?
MGIC Investment trades on the New York Stock Exchange (NYSE) under the ticker symbol "MTG."
How will MGIC Investment's stock buyback program work?
MGIC Investment declared that its board has authorized a stock repurchase program on Thursday, April 26th 2018, which authorizes the company to buyback $200,000,000.00 in shares, according to EventVestor. This buyback authorization authorizes the company to reacquire up to 5.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board believes its stock is undervalued.
How were MGIC Investment's earnings last quarter?
MGIC Investment Corp. (NYSE:MTG) issued its earnings results on Wednesday, October, 17th. The insurance provider reported $0.49 EPS for the quarter, topping analysts' consensus estimates of $0.36 by $0.13. The insurance provider had revenue of $290.50 million for the quarter, compared to the consensus estimate of $274.36 million. MGIC Investment had a net margin of 48.63% and a return on equity of 20.48%. MGIC Investment's revenue was up 7.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.32 EPS. View MGIC Investment's Earnings History.
When is MGIC Investment's next earnings date?
What price target have analysts set for MTG?
11 Wall Street analysts have issued twelve-month target prices for MGIC Investment's stock. Their forecasts range from $12.00 to $23.00. On average, they anticipate MGIC Investment's stock price to reach $16.5909 in the next twelve months. This suggests a possible upside of 51.9% from the stock's current price. View Analyst Price Targets for MGIC Investment.
What is the consensus analysts' recommendation for MGIC Investment?
11 Wall Street analysts have issued "buy," "hold," and "sell" ratings for MGIC Investment in the last year. There are currently 1 sell rating, 2 hold ratings and 8 buy ratings for the stock, resulting in a consensus recommendation of "Buy." View Analyst Ratings for MGIC Investment.
What are Wall Street analysts saying about MGIC Investment stock?
Here are some recent quotes from research analysts about MGIC Investment stock:
- 1. According to Zacks Investment Research, "MGIC Investment remains well-poised to deliver improved earnings, banking on declining delinquency, lower claims payments and an improving housing market. MGIC Investment expects to write about $50 billion new business in 2018 and also estimates insurance in force to improve. This apart, the company remains focused on enhancing its shareholders’ value. Also, positive credit trends, increasing persistency as well as low expense ratio are tailwinds. The company saw its 2018 and 2019 estimates move north over the last 60 days. However, a competitive environment and pressure to maintain capital at the required level will reduce the MGIC Investment’s capital flexibility. Shares of MGIC Investment have underperformed the industry year to date." (6/19/2018)
- 2. Wells Fargo & Co analysts commented, "We were modeling an April cure ratio of 112.4%. The favorable cure ratio probably reflects delinquent loans curing in the geographical areas that the Agency declared Areas as a result of hurricanes Maria, which occurred in August September 2017. The cure ratio should be a precursor to favorable priorperiod development, although the initial reserve per delinquency in the hurricaneimpacted areas was probably lower than would otherwise be the case." (5/8/2018)
Has MGIC Investment been receiving favorable news coverage?
Press coverage about MTG stock has been trending positive recently, according to InfoTrie. The research group scores the sentiment of media coverage by reviewing more than six thousand news and blog sources. The firm ranks coverage of publicly-traded companies on a scale of negative five to five, with scores nearest to five being the most favorable. MGIC Investment earned a media sentiment score of 2.3 on InfoTrie's scale. They also gave news articles about the insurance provider a news buzz of 0.0 out of 10, indicating that recent media coverage is extremely unlikely to have an impact on the company's share price in the immediate future.
Who are some of MGIC Investment's key competitors?
Who are MGIC Investment's key executives?
MGIC Investment's management team includes the folowing people:
- Mr. Patrick Sinks, Pres, CEO & Director (Age 61)
- Mr. Timothy James Mattke, Exec. VP & CFO (Age 42)
- Mr. Stephen Crail Mackey, Exec. VP & Chief Risk Officer (Age 57)
- Mr. James J. Hughes, Exec. VP of Sales & Bus. Devel. - Mortgage Guaranty Insurance Corp. (Age 55)
- Mr. Jeffrey Harold Lane, Consultant (Age 68)
Who are MGIC Investment's major shareholders?
MGIC Investment's stock is owned by a number of of institutional and retail investors. Top institutional investors include Vanguard Group Inc. (10.12%), BlackRock Inc. (7.06%), FMR LLC (4.49%), LSV Asset Management (3.84%), Macquarie Group Ltd. (1.86%) and Clearbridge Investments LLC (1.54%). View Institutional Ownership Trends for MGIC Investment.
Which major investors are selling MGIC Investment stock?
MTG stock was sold by a variety of institutional investors in the last quarter, including Bank of New York Mellon Corp, Capital World Investors, Vanguard Group Inc., Goldentree Asset Management LP, Victory Capital Management Inc., BlackRock Inc., Renaissance Technologies LLC and Eaton Vance Management. View Insider Buying and Selling for MGIC Investment.
Which major investors are buying MGIC Investment stock?
MTG stock was purchased by a variety of institutional investors in the last quarter, including Capital International Investors, Philadelphia Financial Management of San Francisco LLC, Macquarie Group Ltd., First Quadrant L P CA, Man Group plc, Assenagon Asset Management S.A., Select Equity Group L.P. and Deutsche Bank AG. View Insider Buying and Selling for MGIC Investment.
How do I buy shares of MGIC Investment?
Shares of MTG can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Scottrade, Fidelity and Charles Schwab.
What is MGIC Investment's stock price today?
One share of MTG stock can currently be purchased for approximately $10.92.
How big of a company is MGIC Investment?
MGIC Investment has a market capitalization of $3.98 billion and generates $1.07 billion in revenue each year. The insurance provider earns $355.76 million in net income (profit) each year or $1.36 on an earnings per share basis. MGIC Investment employs 819 workers across the globe.
What is MGIC Investment's official website?
How can I contact MGIC Investment?
MGIC Investment's mailing address is 250 EAST KILBOURN AVENUE, MILWAUKEE WI, 53202. The insurance provider can be reached via phone at 414-347-6480 or via email at [email protected]
MarketBeat Community Rating for MGIC Investment (NYSE MTG)
MarketBeat's community ratings are surveys of what our community members think about MGIC Investment and other stocks. Vote "Outperform" if you believe MTG will outperform the S&P 500 over the long term. Vote "Underperform" if you believe MTG will underperform the S&P 500 over the long term. You may vote once every thirty days.
