FY2024 EPS Estimates for MGIC Investment Raised by Analyst

MGIC Investment Co. (NYSE:MTG) – Research analysts at Zacks Research upped their FY2024 earnings per share estimates for shares of MGIC Investment in a research note issued to investors on Monday, November 25th. Zacks Research analyst R. Department now forecasts that the insurance provider will post earnings of $2.84 per share for the year, up from their prior estimate 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.

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

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

MGIC Investment Stock Down 0.8 %

Shares of NYSE:MTG opened at $26.11 on Wednesday. The stock’s 50-day moving average is $25.22 and its 200 day moving average is $23.62. The company has a market cap of $6.62 billion, a PE ratio of 9.19, a P/E/G ratio of 1.91 and a beta of 1.28. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.25 and a quick ratio of 1.25. MGIC Investment has a 1 year low of $17.31 and a 1 year high of $26.56.

MGIC Investment Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th were paid a $0.13 dividend. The ex-dividend date 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 presently 18.31%.

Institutional Trading of MGIC Investment

Several institutional investors have recently made changes to their positions in MTG. Versant Capital Management Inc lifted its holdings in shares of MGIC Investment by 482.7% in the second quarter. Versant Capital Management Inc now owns 1,142 shares of the insurance provider’s stock worth $25,000 after buying an additional 946 shares in the last quarter. Hara Capital LLC purchased a new stake in MGIC Investment in the 3rd quarter worth $25,000. V Square Quantitative Management LLC bought a new position in shares of MGIC Investment during the 3rd quarter valued at about $33,000. GAMMA Investing LLC grew its position in shares of MGIC Investment by 76.2% during the second 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 in the last quarter. Finally, Brooklyn Investment Group bought a new stake in shares of MGIC Investment in the third quarter worth about $69,000. Hedge funds and other 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.