MGIC Investment Corporation (NYSE:MTG) Increases Dividend to $0.17 Per Share

MGIC Investment Corporation (NYSE:MTG) declared a quarterly dividend on Thursday, July 23rd. Stockholders of record on Wednesday, August 5th will be given a dividend of 0.17 per share by the insurance provider on Thursday, August 20th. 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, August 5th. This is a 13.3% increase from MGIC Investment’s previous quarterly dividend of $0.15.

MGIC Investment has increased its dividend payment 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. Analysts expect MGIC Investment to earn $3.27 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 18.3%.

MGIC Investment Stock Performance

MTG stock opened at $28.99 on Friday. MGIC Investment has a twelve month low of $24.69 and a twelve month high of $29.97. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.13. The company has a market cap of $6.13 billion, a P/E ratio of 9.20, a price-to-earnings-growth ratio of 2.00 and a beta of 0.67. The business’s fifty day moving average is $26.93 and its 200-day moving average is $26.90.

MGIC Investment (NYSE:MTG) last announced its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.03. The business had revenue of $297.08 million during the quarter, compared to analysts’ expectations of $303.12 million. MGIC Investment had a return on equity of 14.01% and a net margin of 59.63%.The firm’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.75 earnings per share. Equities research analysts forecast that MGIC Investment will post 3.05 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.