MGIC Investment Corporation (NYSE:MTG) to Issue Quarterly Dividend of $0.15

MGIC Investment Corporation (NYSE:MTG) announced a quarterly dividend on Tuesday, January 27th. Stockholders of record on Tuesday, February 17th will be given a dividend of 0.15 per share by the insurance provider on Friday, March 6th. This represents a c) annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Tuesday, February 17th.

MGIC Investment has increased its dividend payment by an average of 0.3%per year over the last three years and has raised its dividend annually for the last 6 consecutive years. MGIC Investment has a dividend payout ratio of 19.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect MGIC Investment to earn $2.81 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 21.4%.

MGIC Investment Price Performance

Shares of MTG traded down $0.06 during mid-day trading on Wednesday, reaching $26.44. The company had a trading volume of 769,147 shares, compared to its average volume of 2,252,138. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.48 and a quick ratio of 1.48. The company has a market capitalization of $5.91 billion, a P/E ratio of 8.50, a P/E/G ratio of 1.47 and a beta of 0.84. MGIC Investment has a twelve month low of $21.94 and a twelve month high of $29.97. The company’s 50-day moving average is $28.31 and its 200-day moving average is $27.69.

MGIC Investment (NYSE:MTG) last announced its quarterly earnings results on Wednesday, October 29th. The insurance provider reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.11. The firm had revenue of $304.51 million for the quarter, compared to analysts’ expectations of $308.16 million. MGIC Investment had a return on equity of 14.62% and a net margin of 61.96%.The business’s revenue was down .7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.77 earnings per share. On average, equities analysts anticipate that MGIC Investment will post 2.71 EPS for the current year.

About MGIC Investment

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.