FY2027 EPS Estimate for MGIC Investment Lifted by Analyst

MGIC Investment Corporation (NYSE:MTG) – Research analysts at DOWLING & PARTN boosted their FY2027 earnings per share (EPS) estimates for shares of MGIC Investment in a report released on Friday, July 31st. DOWLING & PARTN analyst G. Dunn now forecasts that the insurance provider will earn $3.15 per share for the year, up from their previous estimate of $3.10. The consensus estimate for MGIC Investment’s current full-year earnings is $3.12 per share.

MGIC Investment (NYSE:MTG) last announced its quarterly earnings data on Wednesday, July 29th. The insurance provider reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.11. The company had revenue of $295.39 million for the quarter, compared to analysts’ expectations of $297.54 million. MGIC Investment had a return on equity of 13.90% and a net margin of 59.20%.MGIC Investment’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same period last year, the firm posted $0.82 EPS.

Other analysts also recently issued research reports about the company. Barclays lowered their price objective on MGIC Investment from $29.00 to $28.00 and set an “equal weight” rating for the company in a research report on Friday, May 1st. Weiss Ratings upgraded shares of MGIC Investment from a “buy (b)” rating to a “buy (b+)” rating in a report on Tuesday, July 7th. Keefe, Bruyette & Woods upped their target price on MGIC Investment from $29.00 to $30.00 and gave the stock a “market perform” rating in a report on Friday, July 31st. Royal Bank Of Canada increased their target price on MGIC Investment from $28.00 to $32.00 and gave the stock a “sector perform” rating in a research report on Friday, July 31st. Finally, Roth Capital restated a “buy” rating and issued a $35.00 target price on shares of MGIC Investment in a research note on Thursday, July 30th. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $30.60.

MGIC Investment Stock Performance

MGIC Investment stock opened at $30.96 on Wednesday. MGIC Investment has a twelve month low of $24.69 and a twelve month high of $31.89. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.13. The firm has a fifty day simple moving average of $27.61 and a two-hundred day simple moving average of $27.02. The company has a market capitalization of $6.35 billion, a PE ratio of 9.67, a P/E/G ratio of 2.06 and a beta of 0.66.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. SBI Securities Co. Ltd. grew its holdings in shares of MGIC Investment by 40.3% during the fourth quarter. SBI Securities Co. Ltd. now owns 1,461 shares of the insurance provider’s stock valued at $43,000 after buying an additional 420 shares during the last quarter. Compound Planning Inc. raised its holdings in MGIC Investment by 4.3% in the 1st quarter. Compound Planning Inc. now owns 10,392 shares of the insurance provider’s stock worth $273,000 after acquiring an additional 433 shares during the last quarter. Oregon Public Employees Retirement Fund raised its holdings in MGIC Investment by 1.1% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 44,972 shares of the insurance provider’s stock worth $1,181,000 after acquiring an additional 481 shares during the last quarter. Lido Advisors LLC lifted its position in MGIC Investment by 2.2% in the 4th quarter. Lido Advisors LLC now owns 23,799 shares of the insurance provider’s stock valued at $689,000 after acquiring an additional 522 shares in the last quarter. Finally, Victory Financial Group LLC boosted its stake in MGIC Investment by 1.9% during the 3rd quarter. Victory Financial Group LLC now owns 27,994 shares of the insurance provider’s stock valued at $794,000 after purchasing an additional 535 shares during the last quarter. Institutional investors own 95.58% of the company’s stock.

Insider Buying and Selling at MGIC Investment

In related news, EVP Paula C. Maggio sold 20,937 shares of the company’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $25.55, for a total value of $534,940.35. Following the transaction, the executive vice president owned 169,620 shares in the company, valued at $4,333,791. The trade was a 10.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Salvatore A. Miosi sold 30,000 shares of the stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $25.38, for a total transaction of $761,400.00. Following the sale, the chief operating officer directly owned 560,951 shares in the company, valued at $14,236,936.38. This trade represents a 5.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.34% of the stock is owned by company insiders.

MGIC Investment announced that its board has approved a share buyback program on Thursday, April 23rd that allows the company to repurchase $750.00 million in shares. This repurchase authorization allows the insurance provider to buy up to 12.4% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

MGIC Investment Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Wednesday, August 5th will be paid a $0.17 dividend. This is an increase from MGIC Investment’s previous quarterly dividend of $0.15. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Wednesday, August 5th. MGIC Investment’s payout ratio is currently 18.75%.

MGIC Investment Company Profile

MGIC Investment Corporation (NYSE: MTG) is a leading provider of private mortgage insurance in the United States. Established in 1957 as the nation’s first private mortgage insurer, MGIC helps lenders manage credit risk and facilitates homeownership by protecting mortgage loans against default. Headquartered in Milwaukee, Wisconsin, the company operates through its principal subsidiary, Mortgage Guaranty Insurance Corporation, and maintains relationships with a broad network of originators and servicers nationwide.

The company’s primary business activity involves issuing mortgage insurance policies that enable borrowers to purchase homes with down payments below traditional lending thresholds.