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

MGIC Investment Co. (NYSE:MTG) announced a quarterly dividend on Friday, April 26th, Wall Street Journal reports. Stockholders of record on Thursday, May 9th will be given a dividend of 0.115 per share by the insurance provider on Tuesday, May 21st. This represents a $0.46 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date is Wednesday, May 8th.

MGIC Investment has raised its dividend payment by an average of 21.5% annually over the last three years and has raised its dividend annually for the last 3 consecutive years. MGIC Investment has a dividend payout ratio of 17.9% meaning its dividend is sufficiently covered by earnings. Analysts expect MGIC Investment to earn $2.53 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 18.2%.

MGIC Investment Trading Up 0.6 %

MGIC Investment stock traded up $0.12 during trading on Friday, hitting $20.48. The company had a trading volume of 1,892,432 shares, compared to its average volume of 2,042,036. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.13. The company’s 50 day simple moving average is $20.43 and its 200-day simple moving average is $19.11. MGIC Investment has a 1-year low of $13.97 and a 1-year high of $22.43. The stock has a market cap of $5.52 billion, a price-to-earnings ratio of 8.27, a price-to-earnings-growth ratio of 1.68 and a beta of 1.24.

MGIC Investment (NYSE:MTG) last issued its quarterly earnings results on Wednesday, January 31st. The insurance provider reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.10. The company had revenue of $284.72 million for the quarter, compared to analyst estimates of $302.96 million. MGIC Investment had a net margin of 61.72% and a return on equity of 14.82%. As a group, analysts expect that MGIC Investment will post 2.43 EPS for the current fiscal year.

Wall Street Analyst Weigh In

MTG has been the subject of several recent research reports. Royal Bank of Canada raised their price target on shares of MGIC Investment from $18.00 to $21.00 and gave the company a “sector perform” rating in a research report on Friday, February 2nd. Roth Mkm boosted their price objective on MGIC Investment from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $24.00 target price (up previously from $23.50) on shares of MGIC Investment in a report on Thursday, April 4th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price 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.