MGIC Investment Co. (NYSE:MTG) Plans $0.12 Quarterly Dividend

MGIC Investment Co. (NYSE:MTG) announced a quarterly dividend on Thursday, April 25th, Wall Street Journal reports. Stockholders of record on Thursday, May 9th will be given a dividend of 0.115 per share by the insurance provider on Tuesday, May 21st. This represents a $0.46 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend is Wednesday, May 8th.

MGIC Investment has increased its dividend by an average of 21.5% annually over the last three years and has increased its dividend every year for the last 3 years. MGIC Investment has a dividend payout ratio of 17.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect MGIC Investment to earn $2.53 per share next year, which means the company should continue to be able to cover its $0.46 annual dividend with an expected future payout ratio of 18.2%.

MGIC Investment Price Performance

Shares of NYSE:MTG opened at $20.48 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.98 and a current ratio of 0.98. MGIC Investment has a one year low of $13.97 and a one year high of $22.43. The business’s fifty day moving average price is $20.45 and its two-hundred day moving average price is $19.13. The stock has a market cap of $5.52 billion, a PE ratio of 8.22, a price-to-earnings-growth ratio of 1.68 and a beta of 1.24.

MGIC Investment (NYSE:MTG) last released its earnings results on Wednesday, January 31st. The insurance provider reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.10. The company had revenue of $284.72 million for the quarter, compared to analyst estimates of $302.96 million. MGIC Investment had a net margin of 61.72% and a return on equity of 14.82%. On average, analysts forecast that MGIC Investment will post 2.43 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have weighed in on MTG shares. Roth Mkm increased their price target on MGIC Investment from $21.00 to $24.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Royal Bank of Canada raised their price target on MGIC Investment from $18.00 to $21.00 and gave the stock a “sector perform” rating in a research note on Friday, February 2nd. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $24.00 price objective (up from $23.50) on shares of MGIC Investment in a report on Thursday, April 4th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $21.08.

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.