FY2024 EPS Estimate for MGIC Investment Increased by Analyst

MGIC Investment Co. (NYSE:MTG) – Investment analysts at Zacks Research raised their FY2024 earnings per share estimates for shares of MGIC Investment in a research report issued to clients and investors on Monday, November 25th. Zacks Research analyst R. Department now anticipates that the insurance provider will post earnings per share of $2.84 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.

MTG has been the subject of a number of other research reports. Royal Bank of Canada lowered 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 research report on Wednesday, November 6th. Barclays raised 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. BTIG Research increased their target price on MGIC Investment from $22.00 to $25.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Finally, Roth Mkm lifted their price target on shares of MGIC Investment from $24.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, MGIC Investment presently has an average rating of “Moderate Buy” and a consensus target price of $25.50.

MGIC Investment Price Performance

Shares of NYSE MTG opened at $26.11 on Wednesday. MGIC Investment has a 52-week low of $17.31 and a 52-week high of $26.56. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.25 and a current ratio of 1.25. The stock has a market cap of $6.62 billion, a P/E ratio of 9.19, a P/E/G ratio of 1.91 and a beta of 1.28. The firm has a 50 day moving average price of $25.24 and a 200 day moving average price of $23.66.

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

MGIC Investment Dividend Announcement

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in MTG. Versant Capital Management Inc grew its holdings 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 acquiring an additional 946 shares in the last quarter. Hara Capital LLC bought a new position in shares of MGIC Investment during the 3rd quarter worth approximately $25,000. V Square Quantitative Management LLC acquired a new stake in shares of MGIC Investment during the 3rd quarter worth about $33,000. GAMMA Investing LLC grew its stake in 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 buying an additional 1,328 shares during the last quarter. Finally, Brooklyn Investment Group bought a new position in MGIC Investment in the 3rd quarter valued at about $69,000. Institutional investors own 95.58% of the company’s stock.

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.