MTG Stock Recent News

MGIC Investment (MTG) first-quarter results reflect favorable credit trends and the resiliency of the housing market.

The headline numbers for MGIC (MTG) give insight into how the company performed in the quarter ended March 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

MGIC Investment (MTG) came out with quarterly earnings of $0.65 per share, beating the Zacks Consensus Estimate of $0.60 per share. This compares to earnings of $0.54 per share a year ago.

Multiline insurers like MetLife (MET), Prudential Financial (PRU), MGIC Investment (MTG), CNO Financial (CNO) and Old Republic (ORI), which have a solid dividend history, offer a breather amid volatility.

MGIC Investment (MTG) gains on the back of solid insurance in force, a decline in loss and claims payments, lower delinquency, better housing market fundamentals and prudent capital deployment.

MGIC (MTG) saw its shares surge in the last session with trading volume being higher than average. The latest trend in earnings estimate revisions could translate into further price increase in the near term.

MGIC (MTG) reported earnings 30 days ago. What's next for the stock?

MGIC Investment (MTG) stands to gain from solid insurance in force, a decline in loss and claims payments, better housing market fundamentals and prudent capital deployment.

MGIC reported solid Q4 earnings, with cash operating EPS of $0.63 and a 12.5% increase in quarterly dividend. Claim payments on private mortgage insurance remain extremely low, at $13 million in Q4. MGIC's stock remains cheap with a P/E ratio of 7.5 and a cash return of 13.4%, making it an attractive investment option.

MGIC (MTG) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #1 (Strong Buy).