MGIC Investment Co. to Issue Quarterly Dividend of $0.13 (NYSE:MTG)

MGIC Investment Co. (NYSE:MTG) announced a quarterly dividend on Thursday, October 24th, RTT News reports. Investors of record on Thursday, November 7th will be paid a dividend of 0.13 per share by the insurance provider on Thursday, November 21st. 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 21.5% annually over the last three years. MGIC Investment has a dividend payout ratio of 18.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect MGIC Investment to earn $2.76 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 18.8%.

MGIC Investment Trading Up 0.6 %

Shares of MTG stock opened at $25.55 on Friday. The company has a market cap of $6.62 billion, a P/E ratio of 9.43, a PEG ratio of 1.35 and a beta of 1.28. MGIC Investment has a fifty-two week low of $16.32 and a fifty-two week high of $26.52. The stock has a 50 day simple moving average of $25.20 and a two-hundred day simple moving average of $22.84. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.11 and a current ratio of 1.11.

MGIC Investment (NYSE:MTG) last released its earnings results on Wednesday, July 31st. The insurance provider reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.15. The company had revenue of $305.28 million for the quarter, compared to the consensus estimate of $301.02 million. MGIC Investment had a net margin of 63.19% and a return on equity of 14.97%. MGIC Investment’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.68 EPS. Research analysts forecast that MGIC Investment will post 2.76 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Roth Mkm increased their price objective on shares of MGIC Investment from $24.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. BTIG Research increased their price target on MGIC Investment from $22.00 to $25.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Finally, Barclays boosted their price objective on MGIC Investment from $23.00 to $24.00 and gave the company an “equal weight” rating in a report on Tuesday, October 8th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.50.

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.