MGIC Investment Co. (NYSE:MTG – Get Free Report) announced a quarterly dividend on Tuesday, January 23rd, Wall Street Journal reports. Stockholders of record on Thursday, February 15th will be paid a dividend of 0.115 per share by the insurance provider on Tuesday, March 5th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date is Wednesday, February 14th.
MGIC Investment has raised its dividend payment by an average of 21.5% per year over the last three years and has raised its dividend annually for the last 3 consecutive years. MGIC Investment has a dividend payout ratio of 18.3% meaning its dividend is sufficiently covered by earnings. Analysts expect MGIC Investment to earn $2.52 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 18.3%.
MGIC Investment Trading Up 0.7 %
Shares of MGIC Investment stock opened at $19.07 on Monday. MGIC Investment has a 12-month low of $12.15 and a 12-month high of $20.26. The stock has a market cap of $5.29 billion, a P/E ratio of 7.66, a P/E/G ratio of 1.58 and a beta of 1.24. The company has a quick ratio of 0.63, a current ratio of 0.61 and a debt-to-equity ratio of 0.13. The business’s 50 day moving average is $19.21 and its 200-day moving average is $17.96.
Analyst Ratings Changes
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in MTG. Raymond James Financial Services Advisors Inc. grew its holdings in MGIC Investment by 13.4% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 103,446 shares of the insurance provider’s stock valued at $1,402,000 after buying an additional 12,256 shares in the last quarter. HighTower Advisors LLC acquired a new stake in shares of MGIC Investment during the 1st quarter worth $230,000. Natixis Advisors L.P. grew its holdings in shares of MGIC Investment by 42.1% during the 1st quarter. Natixis Advisors L.P. now owns 25,204 shares of the insurance provider’s stock worth $342,000 after purchasing an additional 7,472 shares in the last quarter. MetLife Investment Management LLC grew its holdings in shares of MGIC Investment by 31.3% during the 1st quarter. MetLife Investment Management LLC now owns 207,142 shares of the insurance provider’s stock worth $2,807,000 after purchasing an additional 49,361 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of MGIC Investment by 8.8% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 117,400 shares of the insurance provider’s stock worth $1,591,000 after purchasing an additional 9,454 shares in the last quarter. 93.41% of the stock is owned by institutional investors and hedge funds.
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.
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