MGIC Investment Corporation (NYSE:MTG – Get Free Report) declared a quarterly dividend on Thursday, October 29th. Shareholders of record on Thursday, November 12th will be given a dividend of $0.17 per share by the insurance provider on Monday, November 23rd. This represents a $0.68 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Thursday, November 12th.
MGIC Investment has increased its dividend by an average of 0.2% annually 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 22.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect MGIC Investment to earn $3.37 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 20.2%.
MGIC Investment Stock Performance
MTG opened at $28.87 on Friday. The business’s 50-day moving average price is $29.08 and its two-hundred day moving average price is $27.74. MGIC Investment has a 1 year low of $24.69 and a 1 year high of $31.89. The company has a market capitalization of $5.92 billion, a price-to-earnings ratio of 8.80, a P/E/G ratio of 1.00 and a beta of 0.67. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.19 and a quick ratio of 1.19.
MGIC Investment (NYSE:MTG – Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The insurance provider reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.11. The company had revenue of $295.39 million for the quarter, compared to analyst estimates of $297.54 million. MGIC Investment had a return on equity of 13.90% and a net margin of 59.20%. The company’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.82 earnings per share. Equities analysts expect that MGIC Investment will post 3.22 EPS for the current fiscal year.
About MGIC Investment
MGIC Investment Corporation (NYSE:MTG) is a holding company whose principal subsidiary is Mortgage Guaranty Insurance Corporation (MGIC), a provider of private mortgage insurance in the United States. MGIC’s insurance helps protect mortgage lenders and investors against losses when borrowers default, enabling qualified homebuyers to obtain mortgages with smaller down payments.
MGIC primarily offers primary mortgage insurance for residential loans, working with mortgage lenders, banks and other housing-finance institutions.
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