MGIC Investment (NYSE:MTG – Get Free Report) announced its quarterly earnings results on Wednesday. The insurance provider reported $0.77 EPS for the quarter, beating the consensus estimate of $0.62 by $0.15, Briefing.com reports. The business had revenue of $305.28 million during the quarter, compared to analysts’ expectations of $301.02 million. MGIC Investment had a return on equity of 15.00% and a net margin of 62.85%. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.68 EPS.
MGIC Investment Stock Performance
MTG stock traded down $0.33 during mid-day trading on Thursday, reaching $24.51. 2,268,612 shares of the stock traded hands, compared to its average volume of 1,876,435. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.13. The business has a 50-day moving average of $21.88 and a two-hundred day moving average of $20.84. The firm has a market capitalization of $6.53 billion, a PE ratio of 9.54, a P/E/G ratio of 3.05 and a beta of 1.28. MGIC Investment has a 52 week low of $16.30 and a 52 week high of $25.93.
MGIC Investment Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 22nd. Investors of record on Thursday, August 8th will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend is Thursday, August 8th. This is an increase from MGIC Investment’s previous quarterly dividend of $0.12. MGIC Investment’s dividend payout ratio (DPR) is 17.69%.
Analyst Ratings Changes
Read Our Latest Analysis on MTG
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.
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