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, 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. It also provides contract underwriting services; and other services for the mortgage finance industry, such as analysis of loan originations and portfolios, and mortgage lead generation services, as well as reinsurance. The company serves originators of residential mortgage loans, including savings institutions, commercial banks, mortgage brokers, credit unions, mortgage bankers, and other lenders. MGIC Investment Corporation was founded in 1957 and is headquartered in Milwaukee, Wisconsin.
IPO Year: 1991
Exchange: NYSE
Website: mtg.mgic.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 6/3/2024 | $24.00 → $25.00 | Mkt Perform → Outperform | Keefe Bruyette |
| 4/4/2024 | $23.50 → $24.00 | Outperform → Mkt Perform | Keefe Bruyette |
| 12/6/2023 | $18.50 | Neutral | UBS |
| 11/15/2023 | $19.00 | Equal Weight | Barclays |
| 7/6/2023 | $17.00 → $15.70 | Outperform → Sector Perform | RBC Capital Mkts |
| 4/11/2023 | $18.00 | Neutral → Buy | Compass Point |
| 1/6/2023 | $16.00 → $14.00 | Overweight → Equal Weight | Barclays |
| 11/9/2022 | $19.00 → $14.50 | Buy → Neutral | Compass Point |
| 8/18/2022 | $18.00 | Neutral → Buy | BofA Securities |
| 6/23/2022 | $15.00 → $16.00 | Sector Perform → Outperform | RBC Capital Mkts |
4 - MGIC INVESTMENT CORP (0000876437) (Issuer)
4 - MGIC INVESTMENT CORP (0000876437) (Issuer)
4 - MGIC INVESTMENT CORP (0000876437) (Issuer)
4 - MGIC INVESTMENT CORP (0000876437) (Issuer)
4 - MGIC INVESTMENT CORP (0000876437) (Issuer)
4 - MGIC INVESTMENT CORP (0000876437) (Issuer)
4 - MGIC INVESTMENT CORP (0000876437) (Issuer)
4 - MGIC INVESTMENT CORP (0000876437) (Issuer)
4 - MGIC INVESTMENT CORP (0000876437) (Issuer)
4 - MGIC INVESTMENT CORP (0000876437) (Issuer)
Third Quarter 2024 Net Income of $200.0 million or $0.77 per Diluted Share Third Quarter 2024 Adjusted Net Operating Income (Non-GAAP) of $200.7 million or $0.77 per Diluted Share MILWAUKEE, Nov. 4, 2024 /PRNewswire/ -- MGIC Investment Corporation (NYSE:MTG) today reported operating and financial results for the third quarter of 2024. Tim Mattke, CEO of MTG and Mortgage Guaranty Insurance Corporation ("MGIC") said, "We are very pleased with our third quarter financial results, generating net income of $200 million and delivering a 15.6% return on equity." "Our disciplined approach to risk management and prudent capital management strategies together with our ability to serve our customers w
MILWAUKEE, Oct. 24, 2024 /PRNewswire/ -- MGIC Investment Corporation (NYSE:MTG) announced that its Board of Directors declared a quarterly cash dividend of $0.13 per share, payable on November 21, 2024, to shareholders of record as of November 7, 2024. About MGIC Mortgage Guaranty Insurance Corporation ("MGIC") (www.mgic.com), the principal subsidiary of MGIC Investment Corporation, serves lenders throughout the United States, helping families achieve homeownership sooner by making affordable low-down-payment mortgages a reality through the use of private mortgage insurance. From time-to-time MGIC Investment Corporation releases important information via postings on its corporate website,
MILWAUKEE, Oct. 7, 2024 /PRNewswire/ -- MGIC Investment Corporation (NYSE:MTG) has announced plans to release its third quarter 2024 financial results after the market closes on Monday, November 4, 2024. A conference call/webcast has been scheduled for 10:00 a.m. Eastern Time on Tuesday, November 5, 2024, to discuss the Company's results for the quarter ended September 30, 2024. Individuals interested in joining by telephone should register for the call "here" to receive the dial-in number and unique PIN to access the call. It is recommended that you join the call at least 10 minutes before the conference call begins. The call is also being webcast and can be accessed via the Company's Inv
Second Quarter 2024 Net Income of $204.2 million or $0.77 per Diluted Share Second Quarter 2024 Adjusted Net Operating Income (Non-GAAP) of $204.9 million or $0.77 per Diluted Share MILWAUKEE, July 31, 2024 /PRNewswire/ -- MGIC Investment Corporation (NYSE:MTG) today reported operating and financial results for the second quarter of 2024. Tim Mattke, CEO of MTG and Mortgage Guaranty Insurance Corporation ("MGIC") said, "I am pleased to report we again delivered a solid quarter of financial results. We continue to benefit from favorable credit trends, a disciplined market approach, focus on through the cycle performance, and the strength of our business model. We remain committed to creating
MILWAUKEE, July 25, 2024 /PRNewswire/ -- MGIC Investment Corporation (NYSE:MTG) announced that its Board of Directors declared a quarterly cash dividend of $0.13 per share, an increase of 13% from the last quarterly dividend paid of $0.115 per share. This quarter's dividend will be payable on August 22, 2024, to shareholders of record as of August 8, 2024. About MGIC Mortgage Guaranty Insurance Corporation ("MGIC") (www.mgic.com), the principal subsidiary of MGIC Investment Corporation, serves lenders throughout the United States, helping families achieve homeownership sooner by making affordable low-down-payment mortgages a reality through the use of private mortgage insurance. From time-
MILWAUKEE, July 1, 2024 /PRNewswire/ -- MGIC Investment Corporation (NYSE:MTG) has announced plans to release its second quarter 2024 financial results after the market closes on Wednesday, July 31, 2024. A conference call/webcast has been scheduled for 10:00 a.m. Eastern Time on Thursday, August 1, 2024, to discuss the Company's results for the quarter ended June 30, 2024. Individuals interested in joining by telephone should register for the call "here" to receive the dial-in number and unique PIN to access the call. It is recommended that you join the call at least 10 minutes before the conference call begins. The call is also being webcast and can be accessed via the Company's Investor
First Quarter 2024 Net Income of $174.1 million or $0.64 per Diluted Share First Quarter 2024 Adjusted Net Operating Income (Non-GAAP) of $178.4 million or $0.65 per Diluted Share MILWAUKEE, May 1, 2024 /PRNewswire/ -- MGIC Investment Corporation (NYSE:MTG) today reported operating and financial results for the first quarter of 2024. Tim Mattke, CEO of MTG and Mortgage Guaranty Insurance Corporation ("MGIC") said, "We began the year with a solid quarter generating net income of $174 million, delivering a return on equity of 13.7%, and increasing book value per share by 14.5% year-over-year while returning meaningful capital to our shareholders. We continue to benefit from favorable credit t
MILWAUKEE, April 25, 2024 /PRNewswire/ -- MGIC Investment Corporation (NYSE:MTG) announced its board of directors has approved an additional share repurchase program with authorization to purchase up to $750 million of its common stock. The company is authorized to repurchase shares of its common stock from time to time through privately negotiated, open market or other transactions (including through the use of trading plans intended to qualify under Rule 10b5-1 under the Securities Exchange Act of 1934, as amended) at any time prior to December 31, 2026. The share repurchase program may be suspended or discontinued at any time and does not require the company to acquire any amount of comm
MILWAUKEE, April 2, 2024 /PRNewswire/ -- MGIC Investment Corporation (NYSE:MTG) has announced plans to release its first quarter 2024 financial results after the market closes on Wednesday, May 1, 2024. A conference call/webcast has been scheduled for 10:00 a.m. Eastern Time on Thursday, May 2, 2024, to discuss the Company's results for the quarter ended March 31, 2024. Individuals interested in joining by telephone should register for the call "here" to receive the dial-in number and unique PIN to access the call. It is recommended that you join the call at least 10 minutes before the conference call begins. The call is also being webcast and can be accessed via the Company's Investor web
Fourth Quarter 2023 Net Income of $184.5 million or $0.66 per Diluted Share Fourth Quarter 2023 Adjusted Net Operating Income (Non-GAAP) of $187.6 million or $0.67 per Diluted Share Full Year 2023 Net Income of $712.9 million or $2.49 per Diluted Share Full Year 2023 Adjusted Net Operating Income (Non-GAAP) of $724.4 million or $2.53 per Diluted Share MILWAUKEE, Jan. 31, 2024 /PRNewswire/ -- MGIC Investment Corporation (NYSE:MTG) today reported operating and financial results for the fourth quarter of 2023 and the full year of 2023. Tim Mattke, CEO of MTG and Mortgage Guaranty Insurance Corporation ("MGIC") said, "The fourth quarter capped another successful year. In 2023, we again delivere
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10-Q - MGIC INVESTMENT CORP (0000876437) (Filer)
8-K - MGIC INVESTMENT CORP (0000876437) (Filer)
10-Q - MGIC INVESTMENT CORP (0000876437) (Filer)
8-K - MGIC INVESTMENT CORP (0000876437) (Filer)
10-Q - MGIC INVESTMENT CORP (0000876437) (Filer)
8-K - MGIC INVESTMENT CORP (0000876437) (Filer)
8-K - MGIC INVESTMENT CORP (0000876437) (Filer)
DEF 14A - MGIC INVESTMENT CORP (0000876437) (Filer)
ARS - MGIC INVESTMENT CORP (0000876437) (Filer)
10-K - MGIC INVESTMENT CORP (0000876437) (Filer)
Third Quarter 2024 Net Income of $200.0 million or $0.77 per Diluted Share Third Quarter 2024 Adjusted Net Operating Income (Non-GAAP) of $200.7 million or $0.77 per Diluted Share MILWAUKEE, Nov. 4, 2024 /PRNewswire/ -- MGIC Investment Corporation (NYSE:MTG) today reported operating and financial results for the third quarter of 2024. Tim Mattke, CEO of MTG and Mortgage Guaranty Insurance Corporation ("MGIC") said, "We are very pleased with our third quarter financial results, generating net income of $200 million and delivering a 15.6% return on equity." "Our disciplined approach to risk management and prudent capital management strategies together with our ability to serve our customers w
MILWAUKEE, Oct. 24, 2024 /PRNewswire/ -- MGIC Investment Corporation (NYSE:MTG) announced that its Board of Directors declared a quarterly cash dividend of $0.13 per share, payable on November 21, 2024, to shareholders of record as of November 7, 2024. About MGIC Mortgage Guaranty Insurance Corporation ("MGIC") (www.mgic.com), the principal subsidiary of MGIC Investment Corporation, serves lenders throughout the United States, helping families achieve homeownership sooner by making affordable low-down-payment mortgages a reality through the use of private mortgage insurance. From time-to-time MGIC Investment Corporation releases important information via postings on its corporate website,
MILWAUKEE, Oct. 7, 2024 /PRNewswire/ -- MGIC Investment Corporation (NYSE:MTG) has announced plans to release its third quarter 2024 financial results after the market closes on Monday, November 4, 2024. A conference call/webcast has been scheduled for 10:00 a.m. Eastern Time on Tuesday, November 5, 2024, to discuss the Company's results for the quarter ended September 30, 2024. Individuals interested in joining by telephone should register for the call "here" to receive the dial-in number and unique PIN to access the call. It is recommended that you join the call at least 10 minutes before the conference call begins. The call is also being webcast and can be accessed via the Company's Inv
AM Best has upgraded the Financial Strength Rating to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Rating to "a" (Excellent) from "a-" (Excellent) of the operating subsidiaries of MGIC Investment Corporation (NYSE:MTG). The operating subsidiaries are Mortgage Guaranty Insurance Corporation, MGIC Indemnity Corporation, and MGIC Assurance Corporation (collectively referred to as MGIC). All companies are domiciled in Milwaukee, WI. In addition, AM Best has revised the Credit Rating (ratings) outlooks to stable from positive. The ratings reflect MGIC's balance sheet strength, which AM Best assesses as strongest, as well as its strong operating performance, limited business
MILWAUKEE, Aug. 21, 2024 /PRNewswire/ -- Mortgage Guaranty Insurance Corporation (MGIC), the principal subsidiary of MGIC Investment Corporation (NYSE:MTG), comments on the updates by the government sponsored enterprises (GSEs), Fannie Mae and Freddie Mac, to the Private Mortgage Insurer Eligibility Requirements (PMIERs) Available Assets Standards. "We are proud of the critical role private mortgage insurance (MI) plays in the housing finance system. PMIERs operational and risk-based capital requirements provide a strong foundation to serve low down payment borrowers while protecting the GSEs and taxpayers from undue mortgage credit risk and private MIs continue to be strong, well-capitaliz
Second Quarter 2024 Net Income of $204.2 million or $0.77 per Diluted Share Second Quarter 2024 Adjusted Net Operating Income (Non-GAAP) of $204.9 million or $0.77 per Diluted Share MILWAUKEE, July 31, 2024 /PRNewswire/ -- MGIC Investment Corporation (NYSE:MTG) today reported operating and financial results for the second quarter of 2024. Tim Mattke, CEO of MTG and Mortgage Guaranty Insurance Corporation ("MGIC") said, "I am pleased to report we again delivered a solid quarter of financial results. We continue to benefit from favorable credit trends, a disciplined market approach, focus on through the cycle performance, and the strength of our business model. We remain committed to creating
MILWAUKEE, July 25, 2024 /PRNewswire/ -- MGIC Investment Corporation (NYSE:MTG) announced that its Board of Directors declared a quarterly cash dividend of $0.13 per share, an increase of 13% from the last quarterly dividend paid of $0.115 per share. This quarter's dividend will be payable on August 22, 2024, to shareholders of record as of August 8, 2024. About MGIC Mortgage Guaranty Insurance Corporation ("MGIC") (www.mgic.com), the principal subsidiary of MGIC Investment Corporation, serves lenders throughout the United States, helping families achieve homeownership sooner by making affordable low-down-payment mortgages a reality through the use of private mortgage insurance. From time-
MILWAUKEE, July 1, 2024 /PRNewswire/ -- MGIC Investment Corporation (NYSE:MTG) has announced plans to release its second quarter 2024 financial results after the market closes on Wednesday, July 31, 2024. A conference call/webcast has been scheduled for 10:00 a.m. Eastern Time on Thursday, August 1, 2024, to discuss the Company's results for the quarter ended June 30, 2024. Individuals interested in joining by telephone should register for the call "here" to receive the dial-in number and unique PIN to access the call. It is recommended that you join the call at least 10 minutes before the conference call begins. The call is also being webcast and can be accessed via the Company's Investor
First Quarter 2024 Net Income of $174.1 million or $0.64 per Diluted Share First Quarter 2024 Adjusted Net Operating Income (Non-GAAP) of $178.4 million or $0.65 per Diluted Share MILWAUKEE, May 1, 2024 /PRNewswire/ -- MGIC Investment Corporation (NYSE:MTG) today reported operating and financial results for the first quarter of 2024. Tim Mattke, CEO of MTG and Mortgage Guaranty Insurance Corporation ("MGIC") said, "We began the year with a solid quarter generating net income of $174 million, delivering a return on equity of 13.7%, and increasing book value per share by 14.5% year-over-year while returning meaningful capital to our shareholders. We continue to benefit from favorable credit t
MILWAUKEE, April 25, 2024 /PRNewswire/ -- MGIC Investment Corporation (NYSE:MTG) announced its board of directors has approved an additional share repurchase program with authorization to purchase up to $750 million of its common stock. The company is authorized to repurchase shares of its common stock from time to time through privately negotiated, open market or other transactions (including through the use of trading plans intended to qualify under Rule 10b5-1 under the Securities Exchange Act of 1934, as amended) at any time prior to December 31, 2026. The share repurchase program may be suspended or discontinued at any time and does not require the company to acquire any amount of comm
Keefe Bruyette upgraded MGIC Investment from Mkt Perform to Outperform and set a new price target of $25.00 from $24.00 previously
Keefe Bruyette downgraded MGIC Investment from Outperform to Mkt Perform and set a new price target of $24.00 from $23.50 previously
UBS initiated coverage of MGIC Investment with a rating of Neutral and set a new price target of $18.50
Barclays initiated coverage of MGIC Investment with a rating of Equal Weight and set a new price target of $19.00
RBC Capital Mkts downgraded MGIC Investment from Outperform to Sector Perform and set a new price target of $15.70 from $17.00 previously
Compass Point upgraded MGIC Investment from Neutral to Buy and set a new price target of $18.00
Barclays downgraded MGIC Investment from Overweight to Equal Weight and set a new price target of $14.00 from $16.00 previously
Compass Point downgraded MGIC Investment from Buy to Neutral and set a new price target of $14.50 from $19.00 previously
BofA Securities upgraded MGIC Investment from Neutral to Buy and set a new price target of $18.00
RBC Capital Mkts upgraded MGIC Investment from Sector Perform to Outperform and set a new price target of $16.00 from $15.00 previously
Barclays analyst Terry Ma maintains MGIC Investment (NYSE:MTG) with a Equal-Weight and raises the price target from $20 to $21.
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Keefe, Bruyette & Woods analyst Bose George upgrades MGIC Investment (NYSE:MTG) from Market Perform to Outperform and raises the price target from $24 to $25.
UBS analyst Douglas Harter maintains MGIC Investment (NYSE:MTG) with a Neutral and raises the price target from $21 to $22.
MGIC Investment (NYSE:MTG) reported quarterly earnings of $0.65 per share which beat the analyst consensus estimate of $0.60 by 8.33 percent. This is a 20.37 percent increase over earnings of $0.54 per share from the same period last year. The company reported quarterly sales of $294.361 million which missed the analyst consensus estimate of $300.512 million by 2.05 percent. This is a 3.66 percent increase over sales of $283.965 million the same period last year.
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Keefe, Bruyette & Woods analyst Bose George downgrades MGIC Investment (NYSE:MTG) from Outperform to Market Perform and raises the price target from $23.5 to $24.
MGIC Investment Corporation (NYSE:MTG) reported better-than-expected fourth-quarter earnings after the closing bell on Wednesday. MGIC Investment posted adjusted earnings of 67 cents per share, beating market estimates of 57 cents per share. The company’s quarterly sales came in at $283.96 million versus expectations of $292.72 million, according to data from Benzinga Pro. Tim Mattke, CEO of MTG and Mortgage Guaranty Insurance Corporation ("MGIC") said, "The fourth quarter capped another successful year. In 2023, we again delivered excellent financial results, and returned meaningful capital to our shareholders. During the year, we remained committed to delivering long-term value for our s
Roth MKM analyst Harry Fong maintains MGIC Investment (NYSE:MTG) with a Buy and raises the price target from $21 to $24.