FY2024 EPS Forecast for MGIC Investment Increased by Analyst

MGIC Investment Co. (NYSE:MTG) – Analysts at Zacks Research raised their FY2024 earnings per share estimates for MGIC Investment in a research report issued on Monday, November 25th. Zacks Research analyst R. Department now expects that the insurance provider will earn $2.84 per share for the year, up from their prior 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.

A number of other research analysts have also recently weighed in on the stock. Royal Bank of Canada dropped their price objective on shares of MGIC Investment from $28.00 to $27.00 and set a “sector perform” rating for the company in a report on Wednesday, November 6th. BTIG Research boosted their price target on shares of MGIC Investment from $22.00 to $25.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Barclays increased their price objective on MGIC Investment from $23.00 to $24.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 8th. Finally, Roth Mkm boosted their target price on MGIC Investment from $24.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $25.50.

MGIC Investment Stock Up 0.0 %

Shares of NYSE:MTG opened at $26.12 on Wednesday. The firm has a market capitalization of $6.62 billion, a PE ratio of 9.20, a price-to-earnings-growth ratio of 1.91 and a beta of 1.28. MGIC Investment has a 1 year low of $17.31 and a 1 year high of $26.56. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.25 and a quick ratio of 1.25. The firm’s 50-day moving average is $25.24 and its two-hundred day moving average is $23.64.

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

Institutional Trading of MGIC Investment

A number of institutional investors have recently bought and sold shares of the business. Hara Capital LLC acquired a new stake in shares of MGIC Investment during the 3rd quarter worth about $25,000. Versant Capital Management Inc grew its position in shares of MGIC Investment by 482.7% in the 2nd quarter. Versant Capital Management Inc now owns 1,142 shares of the insurance provider’s stock valued at $25,000 after buying an additional 946 shares during the last quarter. V Square Quantitative Management LLC purchased a new stake in MGIC Investment in the third quarter valued at $33,000. Brooklyn Investment Group acquired a new position in MGIC Investment in the third quarter valued at $69,000. Finally, GAMMA Investing LLC boosted its position in shares of MGIC Investment by 76.2% in the 2nd quarter. GAMMA Investing LLC now owns 3,071 shares of the insurance provider’s stock valued at $66,000 after purchasing an additional 1,328 shares during the period. 95.58% of the stock is owned by hedge funds and other institutional investors.

MGIC Investment Dividend Announcement

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

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.