Zacks Research Expects Stronger Earnings for MGIC Investment

MGIC Investment Co. (NYSE:MTG) – Analysts at Zacks Research lifted their FY2024 EPS estimates for shares of MGIC Investment in a report issued on Monday, November 25th. Zacks Research analyst R. Department now anticipates that the insurance provider will post earnings of $2.84 per share for the year, up from their previous forecast of $2.71. The consensus estimate for MGIC Investment’s current full-year earnings is $2.81 per share. Zacks Research also issued estimates for MGIC Investment’s Q1 2025 earnings at $0.61 EPS, Q2 2025 earnings at $0.66 EPS, Q3 2025 earnings at $0.66 EPS, Q4 2025 earnings at $0.69 EPS, FY2025 earnings at $2.63 EPS, Q1 2026 earnings at $0.61 EPS, Q2 2026 earnings at $0.65 EPS, Q3 2026 earnings at $0.69 EPS and FY2026 earnings at $2.63 EPS.

Other analysts have also recently issued reports about the company. Royal Bank of Canada cut their price objective on MGIC Investment from $28.00 to $27.00 and set a “sector perform” rating for the company in a research report on Wednesday, November 6th. BTIG Research lifted their price objective on MGIC Investment from $22.00 to $25.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Roth Mkm raised their target price on MGIC Investment from $24.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Finally, Barclays boosted their price target on MGIC Investment from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 8th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, MGIC Investment currently has an average rating of “Moderate Buy” and an average price target of $25.50.

MGIC Investment Price Performance

Shares of MGIC Investment stock opened at $26.12 on Wednesday. The firm has a market cap of $6.62 billion, a PE ratio of 9.20, a P/E/G ratio of 1.91 and a beta of 1.28. The business has a 50-day moving average price of $25.24 and a 200 day moving average price of $23.64. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.12. MGIC Investment has a twelve month low of $17.31 and a twelve month high of $26.56.

MGIC Investment (NYSE:MTG) last issued its quarterly earnings data on Monday, November 4th. The insurance provider reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.11. MGIC Investment had a net margin of 64.09% and a return on equity of 14.99%. The business had revenue of $306.65 million during the quarter, compared to the consensus estimate of $306.03 million. During the same quarter in the prior year, the firm posted $0.64 earnings per share. The company’s revenue was up 3.4% compared to the same quarter last year.

MGIC Investment Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 7th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $0.52 dividend on an annualized basis and a yield of 1.99%. MGIC Investment’s payout ratio is 18.31%.

Institutional Trading of MGIC Investment

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. State of Alaska Department of Revenue increased its holdings in shares of MGIC Investment by 0.4% during the 3rd quarter. State of Alaska Department of Revenue now owns 150,750 shares of the insurance provider’s stock worth $3,858,000 after buying an additional 540 shares during the last quarter. Nations Financial Group Inc. IA ADV lifted its stake in shares of MGIC Investment by 1.6% in the 2nd quarter. Nations Financial Group Inc. IA ADV now owns 35,306 shares of the insurance provider’s stock valued at $761,000 after purchasing an additional 565 shares during the last quarter. Lindenwold Advisors INC grew its holdings in shares of MGIC Investment by 3.7% during the 3rd quarter. Lindenwold Advisors INC now owns 16,611 shares of the insurance provider’s stock worth $425,000 after purchasing an additional 592 shares during the period. Fortem Financial Group LLC increased its position in shares of MGIC Investment by 1.0% during the 2nd quarter. Fortem Financial Group LLC now owns 75,447 shares of the insurance provider’s stock worth $1,626,000 after purchasing an additional 747 shares during the last quarter. Finally, Versant Capital Management Inc increased its position in shares of MGIC Investment by 482.7% during the 2nd quarter. Versant Capital Management Inc now owns 1,142 shares of the insurance provider’s stock worth $25,000 after purchasing an additional 946 shares during the last quarter. 95.58% of the stock is owned by institutional investors and hedge funds.

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.