MGIC Investment FY2024 EPS Estimate Raised by Roth Capital

MGIC Investment Co. (NYSE:MTG) – Equities research analysts at Roth Capital upped their FY2024 earnings estimates for shares of MGIC Investment in a note issued to investors on Tuesday, November 5th. Roth Capital analyst H. Fong now expects that the insurance provider will earn $2.85 per share for the year, up from their previous forecast of $2.75. The consensus estimate for MGIC Investment’s current full-year earnings is $2.76 per share. Roth Capital also issued estimates for MGIC Investment’s Q2 2025 earnings at $0.67 EPS, Q1 2026 earnings at $0.69 EPS, Q2 2026 earnings at $0.73 EPS and Q3 2026 earnings at $0.75 EPS.

MGIC Investment (NYSE:MTG) last issued its quarterly earnings data on Monday, November 4th. The insurance provider reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.11. MGIC Investment had a net margin of 64.09% and a return on equity of 15.14%. The business had revenue of $306.65 million during the quarter, compared to the consensus estimate of $306.03 million. During the same period in the prior year, the firm posted $0.64 EPS. The firm’s quarterly revenue was up 3.4% compared to the same quarter last year.

Several other research analysts have also recently weighed in on MTG. Royal Bank of Canada cut their price objective on MGIC Investment from $28.00 to $27.00 and set a “sector perform” rating on the stock in a research report on Wednesday. Roth Mkm increased their price target on shares of MGIC Investment from $24.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. BTIG Research lifted their price objective on shares of MGIC Investment from $22.00 to $25.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Finally, Barclays increased their target price on shares of MGIC Investment from $23.00 to $24.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 8th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, MGIC Investment has an average rating of “Moderate Buy” and an average price target of $25.50.

MGIC Investment Stock Performance

MTG stock opened at $24.82 on Wednesday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.13. The firm has a market cap of $6.43 billion, a PE ratio of 8.74, a P/E/G ratio of 1.25 and a beta of 1.28. The business has a 50 day moving average of $25.25 and a 200-day moving average of $23.17. MGIC Investment has a 12-month low of $17.25 and a 12-month high of $26.52.

MGIC Investment Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th will be issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 2.10%. The ex-dividend date is Thursday, November 7th. MGIC Investment’s dividend payout ratio (DPR) is presently 18.31%.

Institutional Trading of MGIC Investment

Institutional investors have recently modified their holdings of the business. Versant Capital Management Inc raised its holdings in MGIC Investment by 482.7% during the 2nd quarter. Versant Capital Management Inc now owns 1,142 shares of the insurance provider’s stock valued at $25,000 after acquiring an additional 946 shares during the period. Hara Capital LLC bought a new stake in shares of MGIC Investment during the 3rd quarter valued at $25,000. V Square Quantitative Management LLC purchased a new stake in MGIC Investment during the 3rd quarter worth about $33,000. Fidelis Capital Partners LLC bought a new position in MGIC Investment in the 1st quarter worth about $50,000. Finally, GAMMA Investing LLC grew its holdings in MGIC Investment by 76.2% during the 2nd quarter. GAMMA Investing LLC now owns 3,071 shares of the insurance provider’s stock valued at $66,000 after buying an additional 1,328 shares in the last quarter. 95.58% of the stock is currently owned by hedge funds and other institutional investors.

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.