MGIC Investment Corporation (MTG) To Go Ex-Dividend on May 6th

MGIC Investment Corporation (NYSE:MTG) declared a quarterly dividend on Thursday, April 23rd. Stockholders of record on Wednesday, May 6th will be paid a dividend of 0.15 per share by the insurance provider on Thursday, May 21st. This represents a c) dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Wednesday, May 6th.

MGIC Investment has raised its dividend by an average of 0.2%per year over the last three years and has raised its dividend every year for the last 6 years. MGIC Investment has a dividend payout ratio of 19.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect MGIC Investment to earn $3.36 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 17.9%.

MGIC Investment Trading Down 0.2%

Shares of MGIC Investment stock opened at $26.22 on Monday. The firm has a market cap of $5.63 billion, a price-to-earnings ratio of 8.32, a PEG ratio of 1.60 and a beta of 0.71. The business has a 50-day moving average price of $26.86 and a 200-day moving average price of $27.49. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.13. MGIC Investment has a twelve month low of $24.77 and a twelve month high of $29.97.

MGIC Investment (NYSE:MTG) last issued its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.03. The firm had revenue of $297.08 million during the quarter, compared to analyst estimates of $303.12 million. MGIC Investment had a return on equity of 14.01% and a net margin of 59.63%.The business’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.75 earnings per share. Equities research analysts anticipate that MGIC Investment will post 3.07 EPS for the current fiscal year.

Insider Buying and Selling

In other MGIC Investment news, EVP Paula C. Maggio sold 20,000 shares of MGIC Investment stock in a transaction on Friday, February 6th. The shares were sold at an average price of $27.51, for a total transaction of $550,200.00. Following the completion of the transaction, the executive vice president directly owned 114,689 shares of the company’s stock, valued at $3,155,094.39. The trade was a 14.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Timothy J. Mattke sold 139,202 shares of MGIC Investment stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $26.49, for a total transaction of $3,687,460.98. Following the transaction, the chief executive officer directly owned 1,118,005 shares of the company’s stock, valued at $29,615,952.45. The trade was a 11.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 170,133 shares of company stock worth $4,524,600. Corporate insiders own 1.34% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of MTG. Compound Planning Inc. boosted its position in shares of MGIC Investment by 5.3% during the third quarter. Compound Planning Inc. now owns 7,788 shares of the insurance provider’s stock valued at $221,000 after buying an additional 389 shares during the period. SBI Securities Co. Ltd. boosted its position in shares of MGIC Investment by 61.1% during the third quarter. SBI Securities Co. Ltd. now owns 1,041 shares of the insurance provider’s stock valued at $30,000 after buying an additional 395 shares during the period. Waddell & Associates LLC boosted its position in shares of MGIC Investment by 5.3% during the third quarter. Waddell & Associates LLC now owns 8,090 shares of the insurance provider’s stock valued at $230,000 after buying an additional 410 shares during the period. Clearstead Advisors LLC boosted its position in shares of MGIC Investment by 24.7% during the third quarter. Clearstead Advisors LLC now owns 2,209 shares of the insurance provider’s stock valued at $63,000 after buying an additional 438 shares during the period. Finally, Oregon Public Employees Retirement Fund boosted its position in shares of MGIC Investment by 1.1% during the first quarter. Oregon Public Employees Retirement Fund now owns 44,972 shares of the insurance provider’s stock valued at $1,181,000 after buying an additional 481 shares during the period. 95.58% of the stock is owned by hedge funds and other institutional investors.

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.