MGIC Investment Co. (NYSE:MTG) Declares Quarterly Dividend of $0.12

MGIC Investment Co. (NYSE:MTG) declared a quarterly dividend on Friday, April 26th, Wall Street Journal reports. Shareholders of record on Thursday, May 9th will be paid a dividend of 0.115 per share by the insurance provider on Tuesday, May 21st. This represents a $0.46 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date is Wednesday, May 8th.

MGIC Investment has increased its dividend by an average of 21.5% per year over the last three years and has increased its dividend annually for the last 3 consecutive years. MGIC Investment has a dividend payout ratio of 17.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect MGIC Investment to earn $2.53 per share next year, which means the company should continue to be able to cover its $0.46 annual dividend with an expected future payout ratio of 18.2%.

MGIC Investment Stock Performance

Shares of NYSE:MTG traded up $0.12 during trading on Friday, hitting $20.48. 1,892,432 shares of the company traded hands, compared to its average volume of 2,042,036. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.13. The business’s fifty day moving average is $20.43 and its 200-day moving average is $19.11. The stock has a market capitalization of $5.52 billion, a price-to-earnings ratio of 8.27, a PEG ratio of 1.68 and a beta of 1.24. MGIC Investment has a one year low of $13.97 and a one year high of $22.43.

MGIC Investment (NYSE:MTG) last issued its quarterly earnings data on Wednesday, January 31st. The insurance provider reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.10. The firm had revenue of $284.72 million during the quarter, compared to the consensus estimate of $302.96 million. MGIC Investment had a return on equity of 14.82% and a net margin of 61.72%. As a group, equities analysts predict that MGIC Investment will post 2.43 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on MTG shares. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $24.00 target price (up from $23.50) on shares of MGIC Investment in a report on Thursday, April 4th. Royal Bank of Canada boosted their price target on shares of MGIC Investment from $18.00 to $21.00 and gave the company a “sector perform” rating in a report on Friday, February 2nd. Finally, Roth Mkm lifted their price objective on shares of MGIC Investment from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $21.08.

About MGIC Investment

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, the District of Columbia, 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.