MGIC Investment Corporation

26.36-0.41 (-1.53%)

Oct 29, 4:00:02 PM EDT · NYSE · MTG · USD

Upcoming Earnings

Report date

EPS

0.78 (0.77 ~ 0.78)

Revenue

312.32M (309.60M ~ 315.04M)

Key Stats

Market Cap

6.08B

P/E (TTM)

8.64

Basic EPS (TTM)

3.05

Dividend Yield

0.02%

Recent Filings

8-K

MGIC elects two finance experts

10/23/25Oct 23, 2025

MGIC Investment Corporation bolstered its board on October 22, 2025, by electing Martin P. Klein, a seasoned finance executive from Athene and Apollo Global Management, to the Risk Management and Securities Investment Committees, and Daniela A. O'Leary-Gill, ex-COO of BMO U.S., to the Audit and Business Transformation & Technology Committees. Their appointments bring deep expertise in financial strategy and operations. Each receives a pro-rated $36,302 in restricted stock units on October 31. Board refresh sharpens oversight.

8-K

MGIC Q2 net income $192.5M

7/30/25Jul 30, 2025

MGIC Investment Corporation reported Q2 2025 net income of $192.5 million, or $0.81 per diluted share, down slightly from $204.2 million a year ago, yet delivering a solid 15% annualized return on equity. New insurance written surged to $16.4 billion from $13.5 billion, boosting insurance in force to $297.0 billion, while net losses incurred flipped to a $2.8 million benefit from $18.3 million last year. The company repurchased $180.7 million in shares and executed reinsurance deals covering up to $344 million, strengthening its capital position amid steady delinquency rates. Capital returns remain robust.

10-Q

Q2 FY2025 results

7/30/25Jul 30, 2025

MGIC Investment Corporation posted Q2 2025 net income of $192.5 million, down 6% year-over-year yet lifting diluted EPS to $0.81 from $0.77 amid fewer shares outstanding. Net premiums earned held steady at $244.3 million, with y/y growth in net premiums written of 2% to $237.4 million, while losses incurred swung to a $2.8 million benefit from a $18.3 million benefit last year, driven by $54.4 million favorable prior-year development outpacing $51.6 million on new delinquencies. Investment income dipped 1% to $61.0 million, but underwriting expenses fell 4% to $50.4 million, yielding a 21.9% expense ratio. Cash swelled to $294.9 million, with $406.6 million from operations funding $405.0 million in share repurchases; debt stands at $645.4 million due 2028. Available assets exceed PMIERs minimums by $2.4 billion. Regulatory shifts in state capital rules loom as a balanced concern.

8-K

CIO separation effective immediately

6/13/25Jun 13, 2025

MGIC Investment Corporation separated Robert J. Candelmo, Senior Vice President and Chief Information Officer of its subsidiary Mortgage Guaranty Insurance Corporation, from service effective June 11, 2025. Subject to his signing a release, he qualifies for severance under the company's Executive Severance Plan, detailed in the March 21, 2025 proxy statement. This executive exit disrupts IT leadership. No replacement named yet.

10-Q

Q1 FY2025 results

4/30/25Apr 30, 2025

MGIC Investment Corporation posted solid Q1 2025 results, with net income climbing 7% year-over-year to $185.5 million, or $0.75 per diluted share, up from $174.1 million, or $0.64, in the prior year. Net premiums earned held steady at $243.7 million, a 0% change, while investment income rose 3% to $61.4 million, buoyed by higher yields on the portfolio. Losses incurred net increased 111% to $9.6 million, driven by new delinquencies adding $59.5 million offset by $49.9 million in favorable prior-year development from lower expected claim rates amid home price gains. Other underwriting expenses dropped 13% to $51.4 million, mainly from reduced employee costs. Cash and equivalents stood at $207 million, with $5.9 billion in investments; long-term debt remained $645 million at 5.25% due 2028, and the company repurchased $224 million in shares. Reinsurance via quota share and excess-of-loss deals provided $2.4 billion in PMIERs credit, keeping Available Assets $2.6 billion above Minimum Required. Yet competition from FHA and VA programs, holding 33.5% and 24.5% market share last year, pressures volumes.

About

MGIC Investment Corporation, through its subsidiaries, provides private mortgage insurance, other mortgage credit risk management solutions, and ancillary services in the United States, the District of Columbia, Puerto Rico, and Guam. The company offers primary 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 on the mortgage or sale of the underlying property. It also provides pool insurance for secondary market mortgage transactions; and contract underwriting services, as well as reinsurance services. The company serves originators of residential mortgage loans, including savings institutions, commercial banks, mortgage brokers, credit unions, mortgage bankers, and other lenders. MGIC Investment Corporation was founded in 1957 and is headquartered in Milwaukee, Wisconsin.

CEO

Mr. Timothy James Mattke CPA

IPO

8/7/1991

Website

https://www.mgic.com/

Employees

555

Sector

Financial Services

Industry

Insurance - Specialty