MGIC Investment (NYSE:MTG – Get Free Report) posted its earnings results on Wednesday. The insurance provider reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.15, Briefing.com reports. The firm had revenue of $305.28 million during the quarter, compared to the consensus estimate of $301.02 million. MGIC Investment had a net margin of 63.19% and a return on equity of 14.97%. The company’s revenue was up 5.0% on a year-over-year basis. During the same quarter last year, the company earned $0.68 earnings per share.
MGIC Investment Price Performance
Shares of NYSE MTG traded down $0.37 during midday trading on Friday, hitting $24.14. 2,724,839 shares of the company’s stock were exchanged, compared to its average volume of 1,719,740. The business’s fifty day moving average price is $22.03 and its two-hundred day moving average price is $20.90. The company has a market cap of $6.26 billion, a price-to-earnings ratio of 9.28, a PEG ratio of 3.02 and a beta of 1.28. The company has a current ratio of 1.11, a quick ratio of 1.05 and a debt-to-equity ratio of 0.13. MGIC Investment has a 12-month low of $16.30 and a 12-month high of $25.93.
MGIC Investment Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th will be issued a $0.13 dividend. The ex-dividend date of this dividend is Thursday, August 8th. This represents a $0.52 annualized dividend and a dividend yield of 2.15%. This is a boost from MGIC Investment’s previous quarterly dividend of $0.12. MGIC Investment’s dividend payout ratio (DPR) is presently 17.69%.
Analysts Set New Price Targets
Check Out Our Latest Research Report on MGIC Investment
About MGIC Investment
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.
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