MGIC Investment Co. (NYSE:MTG) Plans $0.13 Quarterly Dividend

MGIC Investment Co. (NYSE:MTG) declared a quarterly dividend on Tuesday, January 28th,RTT News reports. Stockholders of record on Tuesday, February 18th will be given a dividend of 0.13 per share by the insurance provider on Wednesday, March 5th. This represents a $0.52 annualized dividend and a dividend yield of 2.04%.

MGIC Investment has raised its dividend payment by an average of 20.5% per year over the last three years. MGIC Investment has a payout ratio of 17.7% meaning its dividend is sufficiently covered by earnings. Analysts expect MGIC Investment to earn $2.71 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 19.2%.

MGIC Investment Stock Performance

Shares of NYSE MTG traded down $0.11 during mid-day trading on Tuesday, hitting $25.48. The company had a trading volume of 1,243,198 shares, compared to its average volume of 1,611,074. MGIC Investment has a 12 month low of $18.68 and a 12 month high of $26.56. The stock has a market cap of $6.45 billion, a price-to-earnings ratio of 8.97, a PEG ratio of 1.85 and a beta of 1.29. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.25 and a quick ratio of 1.25. The firm’s 50 day simple moving average is $24.51 and its two-hundred day simple moving average is $24.64.

MGIC Investment (NYSE:MTG) last posted its earnings results on Monday, November 4th. The insurance provider reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.11. The company had revenue of $306.65 million for the quarter, compared to analysts’ expectations of $306.03 million. MGIC Investment had a return on equity of 14.99% and a net margin of 64.09%. The firm’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period last year, the business posted $0.64 earnings per share. As a group, equities research analysts forecast that MGIC Investment will post 2.85 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on MTG shares. Royal Bank of Canada decreased their target price on shares of MGIC Investment from $28.00 to $27.00 and set a “sector perform” rating for the company in a research report on Wednesday, November 6th. Keefe, Bruyette & Woods lowered their target price on MGIC Investment from $29.00 to $28.00 and set a “market perform” rating on the stock in a research report on Wednesday, January 8th. Barclays lifted their target price on MGIC Investment from $23.00 to $24.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 8th. Finally, Bank of America cut MGIC Investment from a “buy” rating to an “underperform” rating and decreased their price target for the stock from $26.00 to $25.00 in a research note on Monday, December 9th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $25.86.

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.