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Last $10.32 USD
Change Today +0.195 / 1.93%
Volume 808.5K
As of 11:03 AM 09/2/15 All times are local (Market data is delayed by at least 15 minutes).

mgic investment corp (MTG) Snapshot

Open
$10.27
Previous Close
$10.12
Day High
$10.36
Day Low
$10.21
52 Week High
07/14/15 - $11.72
52 Week Low
10/15/14 - $7.27
Market Cap
3.5B
Average Volume 10 Days
4.5M
EPS TTM
$0.91
Shares Outstanding
339.6M
EX-Date
10/23/08
P/E TM
11.3x
Dividend
--
Dividend Yield
--
Current Stock Chart for MGIC INVESTMENT CORP (MTG)

mgic investment corp (MTG) Related Businessweek News

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mgic investment corp (MTG) Details

MGIC Investment Corporation, through its subsidiaries, provides private mortgage insurance and ancillary services to lenders and government sponsored entities in the United States. 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; and pool insurance coverage, which covers the excess of the loss on a defaulted mortgage loan that exceeds the claim payment under the primary coverage. It also provides contract underwriting services; and other services, such as analysis of loan originations, loan portfolios, and servicing portfolios, as well as training and mortgage lead generation services. In addition, the company participates in external reinsurance arrangements and captive mortgage reinsurance arrangements. It serves originators of residential mortgage loans, including savings institutions, commercial banks, mortgage brokers, credit unions, mortgage bankers, and other lenders. The company was founded in 1957 and is headquartered in Milwaukee, Wisconsin.

800 Employees
Last Reported Date: 02/27/15
Founded in 1957

mgic investment corp (MTG) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: $618.6K
Chief Financial Officer and Executive Vice Pr...
Total Annual Compensation: $327.7K
Executive Vice President, General Counsel and...
Total Annual Compensation: $774.4K
Executive Vice President of Risk Management
Total Annual Compensation: $498.5K
Compensation as of Fiscal Year 2014.

mgic investment corp (MTG) Key Developments

MGIC Investment Corp. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Provides Earnings Guidance for the Full Year 2015

MGIC Investment Corp. announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. The company reported net income of $113.7 million, or $0.28 per diluted share, up from $45.5 million, or $0.12 per diluted share, in the same period a year ago. Total revenues for were $243.1 million, up from $231.2 million for the same quarter last year. Net premiums written for the quarter were $226.8 million, compared with $213.4 million for the same quarter last year. Losses incurred in the second quarter were $90.2 million, compared to $141.1 million in the second quarter of 2014. The decrease in losses incurred is primarily a result of fewer new delinquency notices received and a lower claim rate on new notices. Income before tax was $114,976,000 against $46,640,000 a year ago. For the six months, net premiums written was $461,231,000, total revenues were $513,344,000, losses incurred were $172,023,000, income before tax was $251,437,000 and net income was $246,730,000 or $0.60 per diluted share against net premiums written of $431,405,000, total revenues of $466,318,000, losses incurred of $263,749,000, income before tax of $107,348,000 and net income of $105,504,000 or $0.27 per diluted share The company said it expects new insurance written for the full year will exceed the level written in 2014, but the year over year percentage increase is expected to be lower in the second half of 2015 when compared to the first half. For the full year annual persistency is forecasted to be 80-85%.

MGIC Investment Corp. to Report Q2, 2015 Results on Jul 16, 2015

MGIC Investment Corp. announced that they will report Q2, 2015 results at 5:00 PM, Eastern Standard Time on Jul 16, 2015

MGIC Investment Corp., Q2 2015 Earnings Call, Jul 16, 2015

MGIC Investment Corp., Q2 2015 Earnings Call, Jul 16, 2015

 

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Industry Analysis

MTG

Industry Average

Valuation MTG Industry Range
Price/Earnings 11.5x
Price/Sales 3.5x
Price/Book 2.9x
Price/Cash Flow 9.1x
TEV/Sales 2.0x
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