MGIC Investment Co. Plans Quarterly Dividend of $0.12 (NYSE:MTG)

MGIC Investment Co. (NYSE:MTG) announced a quarterly dividend on Thursday, April 25th, Wall Street Journal reports. Stockholders of record on Thursday, May 9th will be paid a dividend of 0.115 per share by the insurance provider on Tuesday, May 21st. This represents a $0.46 annualized dividend and a dividend yield of 2.23%. The ex-dividend date is Wednesday, May 8th.

MGIC Investment has increased its dividend payment by an average of 21.5% per year over the last three years and has increased its dividend annually for the last 3 consecutive years. MGIC Investment has a payout ratio of 17.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect MGIC Investment to earn $2.58 per share next year, which means the company should continue to be able to cover its $0.46 annual dividend with an expected future payout ratio of 17.8%.

MGIC Investment Stock Performance

MGIC Investment stock opened at $20.64 on Monday. MGIC Investment has a 12-month low of $13.97 and a 12-month high of $22.43. The stock has a 50-day simple moving average of $20.58 and a 200 day simple moving average of $19.26. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $5.50 billion, a price-to-earnings ratio of 7.94, a P/E/G ratio of 1.67 and a beta of 1.24.

MGIC Investment (NYSE:MTG) last announced its earnings results on Wednesday, May 1st. The insurance provider reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.05. MGIC Investment had a net margin of 62.85% and a return on equity of 15.00%. The company had revenue of $294.40 million during the quarter, compared to the consensus estimate of $301.62 million. During the same period in the previous year, the firm posted $0.54 earnings per share. The company’s revenue was up 3.7% on a year-over-year basis. On average, research analysts anticipate that MGIC Investment will post 2.48 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on MTG shares. Roth Mkm raised their price target on MGIC Investment from $21.00 to $24.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Keefe, Bruyette & Woods restated a “market perform” rating and set a $24.00 target price (up from $23.50) on shares of MGIC Investment in a research report on Thursday, April 4th. Finally, Royal Bank of Canada lifted their price target on shares of MGIC Investment from $18.00 to $21.00 and gave the stock a “sector perform” rating in a research report on Friday, February 2nd. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $21.08.

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.