MGIC Investment Corporation (NYSE:MTG – Get Free Report) announced a quarterly dividend on Thursday, October 29th. Shareholders of record on Thursday, November 12th will be paid a dividend of $0.17 per share by the insurance provider on Monday, November 23rd. This represents a $0.68 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Thursday, November 12th.
MGIC Investment has raised its dividend by an average of 0.2% annually over the last three years and has raised its dividend every year for the last 6 years. MGIC Investment has a payout ratio of 22.4% meaning 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 Price Performance
MTG stock opened at $28.54 on Tuesday. The firm has a market cap of $5.85 billion, a P/E ratio of 8.86, a P/E/G ratio of 1.03 and a beta of 0.64. The firm’s fifty day moving average is $28.76 and its 200 day moving average is $27.82. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.19 and a current ratio of 1.19. MGIC Investment has a 52 week low of $24.69 and a 52 week high of $31.89.
MGIC Investment (NYSE:MTG – Get Free Report) last released its earnings results on Wednesday, November 4th. The insurance provider reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.04. MGIC Investment had a return on equity of 13.66% and a net margin of 58.12%. The company had revenue of $299.08 million during the quarter, compared to analyst estimates of $298.66 million. During the same quarter in the previous year, the company posted $0.83 EPS. MGIC Investment’s revenue for the quarter was down 1.8% on a year-over-year basis. Research analysts predict that MGIC Investment will post 3.22 earnings per share for the current year.
About MGIC Investment
MGIC Investment Corporation is a mortgage insurance company whose principal subsidiary, Mortgage Guaranty Insurance Corporation (MGIC), provides private mortgage insurance to lenders. Its coverage helps protect lenders from losses if borrowers default on their mortgages and can help qualified borrowers purchase homes with smaller down payments.
Founded in 1957 by Max H. Karl, MGIC is widely recognized as a pioneer in the private mortgage insurance industry. The company serves mortgage lenders and borrowers across the United States.
Based in Milwaukee, Wisconsin, MGIC Investment is led by President and Chief Executive Officer Timothy J.
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