FY2024 EPS Estimate for MGIC Investment Increased by Analyst

MGIC Investment Co. (NYSE:MTG) – Equities research analysts at Roth Capital boosted their FY2024 earnings per share (EPS) estimates for MGIC Investment in a report issued on Tuesday, November 5th. Roth Capital analyst H. Fong now forecasts that the insurance provider will post earnings of $2.85 per share for the year, up from their prior forecast of $2.75. The consensus estimate for MGIC Investment’s current full-year earnings is $2.76 per share. Roth Capital also issued estimates for MGIC Investment’s Q2 2025 earnings at $0.67 EPS, Q1 2026 earnings at $0.69 EPS, Q2 2026 earnings at $0.73 EPS and Q3 2026 earnings at $0.75 EPS.

MTG has been the topic of a number of other reports. Royal Bank of Canada lowered their price target on MGIC Investment from $28.00 to $27.00 and set a “sector perform” rating on the stock in a research note on Wednesday. Roth Mkm lifted their price target on MGIC Investment from $24.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Barclays lifted their price target on MGIC Investment from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 8th. Finally, BTIG Research lifted their price target on MGIC Investment from $22.00 to $25.00 and gave the stock 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 assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $25.50.

MGIC Investment Stock Performance

Shares of NYSE:MTG opened at $24.56 on Wednesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.11 and a quick ratio of 1.11. The business’s 50 day moving average price is $25.24 and its 200-day moving average price is $23.18. The firm has a market capitalization of $6.37 billion, a PE ratio of 8.65, a P/E/G ratio of 1.25 and a beta of 1.28. MGIC Investment has a 1 year low of $17.25 and a 1 year high of $26.52.

MGIC Investment (NYSE:MTG) last posted its quarterly earnings data on Monday, November 4th. The insurance provider reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.11. The business had revenue of $306.65 million during the quarter, compared to analysts’ expectations of $306.03 million. MGIC Investment had a return on equity of 15.14% and a net margin of 64.09%. The business’s revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.64 earnings per share.

Hedge Funds Weigh In On MGIC Investment

Several large investors have recently modified their holdings of the business. State of Alaska Department of Revenue lifted its stake in shares of MGIC Investment by 0.4% in the 3rd quarter. State of Alaska Department of Revenue now owns 150,750 shares of the insurance provider’s stock valued at $3,858,000 after purchasing an additional 540 shares during the last quarter. Nations Financial Group Inc. IA ADV lifted its stake in shares of MGIC Investment by 1.6% in the 2nd quarter. Nations Financial Group Inc. IA ADV now owns 35,306 shares of the insurance provider’s stock valued at $761,000 after purchasing an additional 565 shares during the last quarter. Lindenwold Advisors INC raised its holdings in shares of MGIC Investment by 3.7% in the 3rd quarter. Lindenwold Advisors INC now owns 16,611 shares of the insurance provider’s stock valued at $425,000 after buying an additional 592 shares during the period. Fortem Financial Group LLC raised its holdings in shares of MGIC Investment by 1.0% in the 2nd quarter. Fortem Financial Group LLC now owns 75,447 shares of the insurance provider’s stock valued at $1,626,000 after buying an additional 747 shares during the period. Finally, Versant Capital Management Inc raised 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 buying an additional 946 shares during the period. Institutional investors and hedge funds own 95.58% of the company’s stock.

MGIC Investment Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date of this dividend is Thursday, November 7th. MGIC Investment’s dividend payout ratio (DPR) is currently 18.31%.

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.