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 Performance
Shares of MTG traded up $0.17 during trading hours on Thursday, reaching $14.87. 1,134,307 shares of the company's stock traded hands, compared to its average volume of 3,119,819. MGIC Investment has a twelve month low of $11.38 and a twelve month high of $16.84. The business's fifty day simple moving average is $13.27 and its two-hundred day simple moving average is $13.81. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.62 and a quick ratio of 0.62. The firm has a market capitalization of $4.51 billion, a price-to-earnings ratio of 6.41, a P/E/G ratio of 1.18 and a beta of 1.47.
MGIC Investment Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 25th. Shareholders of record on Thursday, August 11th will be paid a dividend of $0.10 per share. This is a boost from MGIC Investment's previous quarterly dividend of $0.08. The ex-dividend date is Wednesday, August 10th. This represents a $0.40 annualized dividend and a yield of 2.69%. MGIC Investment's dividend payout ratio (DPR) is presently 13.79%.
Wall Street Analyst Weigh In
MTG has been the topic of a number of recent research reports. StockNews.com upgraded MGIC Investment from a "hold" rating to a "buy" rating in a research note on Friday, August 5th. Royal Bank of Canada upgraded shares of MGIC Investment from a "sector perform" rating to an "outperform" rating and lifted their price objective for the company from $15.00 to $16.00 in a research report on Thursday, June 23rd. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $17.92.