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

MGIC Investment Co. (NYSE:MTG) declared a quarterly dividend on Thursday, April 25th, Wall Street Journal reports. Investors of record on Thursday, May 9th will be given a dividend of 0.115 per share by the insurance provider on Tuesday, May 21st. This represents a $0.46 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend is Wednesday, May 8th.

MGIC Investment has raised its dividend by an average of 21.5% annually over the last three years and has raised its dividend every year for the last 3 years. MGIC Investment has a payout ratio of 17.9% meaning its dividend is sufficiently covered by earnings. Equities 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

MTG stock opened at $20.48 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.98 and a quick ratio of 0.98. The company has a 50 day moving average price of $20.45 and a 200 day moving average price of $19.13. MGIC Investment has a fifty-two week low of $13.97 and a fifty-two week high of $22.43. The stock has a market capitalization of $5.52 billion, a PE ratio of 8.22, a price-to-earnings-growth ratio of 1.68 and a beta of 1.24.

MGIC Investment (NYSE:MTG) last issued its earnings results on Wednesday, January 31st. The insurance provider reported $0.67 EPS for the quarter, beating the consensus estimate of $0.57 by $0.10. The company had revenue of $284.72 million during the quarter, compared to analysts’ expectations of $302.96 million. MGIC Investment had a net margin of 61.72% and a return on equity of 14.82%. Analysts forecast that MGIC Investment will post 2.43 EPS for the current year.

Analysts Set New Price Targets

Several analysts have commented on MTG shares. Roth Mkm upped their target price on shares of MGIC Investment from $21.00 to $24.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $24.00 target price (up previously from $23.50) on shares of MGIC Investment in a research report on Thursday, April 4th. Finally, Royal Bank of Canada upped their target price on shares of MGIC Investment from $18.00 to $21.00 and gave the company a “sector perform” rating in a research report on Friday, February 2nd. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, MGIC Investment currently has a consensus rating of “Hold” and an average price target of $21.08.

MGIC Investment Company Profile

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.