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, 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. It also provides contract underwriting services, as well as reinsurance. 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.
MGIC Investment Stock Up 0.1 %
MTG Stock opened at $15.14 on Tuesday. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.20. The business's 50-day simple moving average is $13.30 and its 200 day simple moving average is $13.79. The company has a market cap of $4.59 billion, a PE ratio of 6.53, a price-to-earnings-growth ratio of 1.24 and a beta of 1.47. MGIC Investment has a twelve month low of $11.38 and a twelve month high of $16.84.
MGIC Investment Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 25th. Shareholders of record on Thursday, August 11th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.64%. This is an increase from MGIC Investment's previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Wednesday, August 10th. MGIC Investment's payout ratio is presently 17.24%.
Analyst Ratings Changes
MTG has been the topic of several research analyst reports. StockNews.com raised MGIC Investment from a "hold" rating to a "buy" rating in a research report on Friday, August 5th. Royal Bank of Canada raised MGIC Investment from a "sector perform" rating to an "outperform" rating and raised their price target for the company from $15.00 to $16.00 in a research report on Thursday, June 23rd. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $17.92.