MGIC Investment Q1 EPS Estimate Raised by Zacks Research

MGIC Investment Corporation (NYSE:MTG) – Analysts at Zacks Research boosted their Q1 2028 earnings per share (EPS) estimates for shares of MGIC Investment in a research report issued to clients and investors on Tuesday, July 28th. Zacks Research analyst Team now anticipates that the insurance provider will earn $0.84 per share for the quarter, up from their prior forecast of $0.83. The consensus estimate for MGIC Investment’s current full-year earnings is $3.05 per share.

MGIC Investment (NYSE:MTG) last released its quarterly earnings data on Wednesday, July 29th. The insurance provider reported $0.87 EPS for the quarter, beating the consensus estimate of $0.76 by $0.11. MGIC Investment had a return on equity of 14.01% and a net margin of 59.63%.The company had revenue of $295.39 million during the quarter, compared to the consensus estimate of $297.54 million. During the same quarter in the prior year, the firm posted $0.82 EPS. The firm’s revenue for the quarter was down 2.9% compared to the same quarter last year.

MTG has been the subject of a number of other research reports. Weiss Ratings upgraded shares of MGIC Investment from a “buy (b)” rating to a “buy (b+)” rating in a research note on Tuesday, July 7th. Keefe, Bruyette & Woods upped their target price on shares of MGIC Investment from $28.00 to $29.00 and gave the company a “market perform” rating in a report on Friday, April 10th. Royal Bank Of Canada began coverage on shares of MGIC Investment in a research note on Friday, May 22nd. They issued a “sector perform” rating and a $28.00 target price for the company. Finally, Barclays reduced their price target on MGIC Investment from $29.00 to $28.00 and set an “equal weight” rating for the company in a report on Friday, May 1st. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $28.25.

MGIC Investment Price Performance

Shares of MTG opened at $30.59 on Thursday. The company has a market cap of $6.47 billion, a price-to-earnings ratio of 9.71, a PEG ratio of 2.11 and a beta of 0.67. MGIC Investment has a 1-year low of $24.69 and a 1-year high of $31.03. The company’s fifty day simple moving average is $27.25 and its 200 day simple moving average is $26.93. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.13.

Hedge Funds Weigh In On MGIC Investment

Institutional investors and hedge funds have recently modified their holdings of the business. Newbridge Financial Services Group Inc. acquired a new position in shares of MGIC Investment during the 3rd quarter worth approximately $28,000. V Square Quantitative Management LLC acquired a new position in MGIC Investment in the 4th quarter valued at $36,000. SBI Securities Co. Ltd. lifted its position in shares of MGIC Investment by 40.3% during the 4th quarter. SBI Securities Co. Ltd. now owns 1,461 shares of the insurance provider’s stock valued at $43,000 after acquiring an additional 420 shares during the period. Geneos Wealth Management Inc. raised its stake in MGIC Investment by 88.0% in the first quarter. Geneos Wealth Management Inc. now owns 1,745 shares of the insurance provider’s stock valued at $43,000 after purchasing an additional 817 shares in the last quarter. Finally, Harbor Investment Advisory LLC grew its stake in MGIC Investment by 613.0% during the second quarter. Harbor Investment Advisory LLC now owns 2,574 shares of the insurance provider’s stock worth $73,000 after buying an additional 2,213 shares in the last quarter. 95.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, COO Salvatore A. Miosi sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $25.38, for a total value of $761,400.00. Following the transaction, the chief operating officer owned 560,951 shares of the company’s stock, valued at approximately $14,236,936.38. This represents a 5.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Paula C. Maggio sold 20,937 shares of the stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $25.55, for a total value of $534,940.35. Following the transaction, the executive vice president owned 169,620 shares in the company, valued at approximately $4,333,791. This trade represents a 10.99% decrease in their position. 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. 1.34% of the stock is owned by corporate insiders.

MGIC Investment Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Wednesday, August 5th will be paid a $0.17 dividend. This is an increase from MGIC Investment’s previous quarterly dividend of $0.15. The ex-dividend date is Wednesday, August 5th. This represents a $0.68 dividend on an annualized basis and a yield of 2.2%. MGIC Investment’s dividend payout ratio (DPR) is currently 19.05%.

MGIC Investment announced that its Board of Directors has authorized a share buyback program on Thursday, April 23rd that permits the company to buyback $750.00 million in shares. This buyback authorization permits the insurance provider to reacquire up to 12.4% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.

MGIC Investment Company Profile

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.