FY2027 EPS Forecast for MGIC Investment Increased by Analyst

MGIC Investment Corporation (NYSE:MTG) – Equities researchers at DOWLING & PARTN boosted their FY2027 earnings estimates for shares of MGIC Investment in a research note issued to investors on Friday, July 31st. DOWLING & PARTN analyst G. Dunn now anticipates that the insurance provider will post earnings per share of $3.15 for the year, up from their previous forecast of $3.10. The consensus estimate for MGIC Investment’s current full-year earnings is $3.12 per share.

A number of other research analysts also recently issued reports on MTG. Barclays reduced their price objective on MGIC Investment from $29.00 to $28.00 and set an “equal weight” rating for the company in a research note on Friday, May 1st. Weiss Ratings upgraded MGIC Investment from a “buy (b)” rating to a “buy (b+)” rating in a research note on Tuesday, July 7th. Royal Bank Of Canada boosted their price target on shares of MGIC Investment from $28.00 to $32.00 and gave the stock a “sector perform” rating in a report on Friday, July 31st. Keefe, Bruyette & Woods increased their price target on shares of MGIC Investment from $29.00 to $30.00 and gave the company a “market perform” rating in a research report on Friday, July 31st. Finally, Roth Capital restated a “buy” rating and set a $35.00 price objective on shares of MGIC Investment in a report on Thursday, July 30th. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, MGIC Investment has an average rating of “Hold” and an average price target of $30.60.

MGIC Investment Stock Performance

Shares of MGIC Investment stock opened at $30.96 on Wednesday. The business’s fifty day simple moving average is $27.61 and its 200 day simple moving average is $27.02. The firm has a market capitalization of $6.35 billion, a P/E ratio of 9.67, a price-to-earnings-growth ratio of 2.06 and a beta of 0.66. MGIC Investment has a 12 month low of $24.69 and a 12 month high of $31.89. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.13.

MGIC Investment (NYSE:MTG) last announced its earnings results on Wednesday, July 29th. The insurance provider reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.11. The firm had revenue of $295.39 million for the quarter, compared to the consensus estimate of $297.54 million. MGIC Investment had a return on equity of 13.90% and a net margin of 59.20%.The company’s revenue was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.82 EPS.

Institutional Investors Weigh In On MGIC Investment

Large investors have recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. purchased a new stake in MGIC Investment during the third quarter valued at about $28,000. V Square Quantitative Management LLC purchased a new position in shares of MGIC Investment in the fourth quarter worth about $36,000. SBI Securities Co. Ltd. increased its stake in shares of MGIC Investment by 40.3% in the fourth quarter. SBI Securities Co. Ltd. now owns 1,461 shares of the insurance provider’s stock worth $43,000 after purchasing an additional 420 shares in the last quarter. Geneos Wealth Management Inc. raised its position in shares of MGIC Investment by 88.0% in the first quarter. Geneos Wealth Management Inc. now owns 1,745 shares of the insurance provider’s stock valued at $43,000 after purchasing an additional 817 shares during the period. Finally, Harbor Investment Advisory LLC raised its holdings in MGIC Investment by 613.0% during the 2nd quarter. Harbor Investment Advisory LLC now owns 2,574 shares of the insurance provider’s stock valued at $73,000 after acquiring an additional 2,213 shares during the period. Hedge funds and other institutional investors own 95.58% of the company’s stock.

Insider Buying and Selling at MGIC Investment

In other MGIC Investment news, COO Salvatore A. Miosi sold 30,000 shares of the stock in a transaction on Monday, June 8th. The stock was sold at an average price of $25.38, for a total transaction of $761,400.00. Following the completion of the transaction, the chief operating officer directly owned 560,951 shares of the company’s stock, valued at approximately $14,236,936.38. This represents a 5.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Paula C. Maggio sold 20,937 shares of the firm’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $25.55, for a total value of $534,940.35. Following the completion of the sale, the executive vice president directly owned 169,620 shares of the company’s stock, valued at $4,333,791. This represents a 10.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.34% of the stock is currently owned by corporate insiders.

MGIC Investment announced that its Board of Directors has initiated a share repurchase program on Thursday, April 23rd that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the insurance provider to buy up to 12.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

MGIC Investment Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Wednesday, August 5th will be paid a $0.17 dividend. The ex-dividend date is Wednesday, August 5th. This is a positive change from MGIC Investment’s previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a yield of 2.2%. MGIC Investment’s dividend payout ratio (DPR) is currently 18.75%.

MGIC Investment Company Profile

MGIC Investment Corporation (NYSE: MTG) is a leading provider of private mortgage insurance in the United States. Established in 1957 as the nation’s first private mortgage insurer, MGIC helps lenders manage credit risk and facilitates homeownership by protecting mortgage loans against default. Headquartered in Milwaukee, Wisconsin, the company operates through its principal subsidiary, Mortgage Guaranty Insurance Corporation, and maintains relationships with a broad network of originators and servicers nationwide.

The company’s primary business activity involves issuing mortgage insurance policies that enable borrowers to purchase homes with down payments below traditional lending thresholds.