Workflow
MGIC Investment (MTG)
icon
Search documents
MTG Stock Near 52-Week High: Should You Buy or Wait for a Pullback?
ZACKS· 2024-09-18 17:31
Shares of MGIC Investment Corporation (MTG) closed at $25.30 on Tuesday, near its 52-week high of $25.93. Solid insurance in force, a decline in loss and claims payments, lower delinquency, better housing market fundamentals and prudent capital deployment are driving the price higher. Given the strong purchase market and potential share gains from the Federal Housing Administration, MGIC Investment expects strong premium writing. Increased persistency rate should continue to boost insurance in force. Shares ...
Are You Looking for a Top Momentum Pick? Why MGIC Investment (MTG) is a Great Choice
ZACKS· 2024-09-16 17:00
Momentum investing revolves around the idea of following a stock's recent trend in either direction. In the 'long' context, investors will be essentially be "buying high, but hoping to sell even higher." With this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving that way. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades. Even though momentum is a popular stock cha ...
3 Momentum Anomaly Stocks to Buy as Markets Soar on Cooling Inflation
ZACKS· 2024-09-13 13:00
After an initial setback at the beginning of the month, the broader U.S. equity markets witnessed a steady uptrend over the past few days as the technology stocks appeared to regain the lost ground. The stock market rally was further propelled by cooling inflation, with data from the U.S. Consumer Price Index revealing that the 12-month inflation rate declined to 2.5% in August – the lowest level since February 2021. This was followed by another healthy economic data that portrayed that the Producer Price I ...
Why Is MGIC (MTG) Up 2.7% Since Last Earnings Report?
ZACKS· 2024-08-30 16:37
Core Viewpoint - MGIC Investment reported strong second-quarter earnings, beating estimates and increasing its dividend, indicating positive financial performance and shareholder value enhancement [2][8]. Financial Performance - The company reported operating net income per share of 77 cents, exceeding the Zacks Consensus Estimate by 24.2% and reflecting a 13.2% year-over-year increase [2]. - Total operating revenues reached $306 million, a 3.4% increase year-over-year, driven by higher net investment income and premiums earned, surpassing the consensus mark by 0.6% [2]. - Net investment income rose 17.5% year-over-year to $61.5 million, exceeding estimates [4]. Operational Metrics - Insurance in force decreased by 0.3% year-over-year to $291.6 billion, missing the consensus estimate of $295.26 billion [4]. - Primary delinquency decreased by 1.9% year-over-year to 23,370 loans [4]. - New insurance written increased by 8.8% year-over-year to $13.5 billion, significantly above the estimate of $10 billion [5]. Capital Management - The company repurchased 7.6 million shares for $157 million and has an additional share repurchase program authorized for up to $750 million [7]. - A 13% increase in the quarterly dividend to 13 cents per share was approved, with payment scheduled for August 22, 2024 [8]. Market Outlook - Estimates for MGIC have trended upward, with a consensus estimate shift of 5.82% in the past month, indicating positive market sentiment [9]. - The stock holds a Zacks Rank 1 (Strong Buy), suggesting expectations for above-average returns in the coming months [11]. Industry Context - MGIC operates within the Zacks Insurance - Multi line industry, where peers like The Hartford have also shown positive performance, gaining 6% over the past month [12].
MGIC Investment (MTG) is a Great Momentum Stock: Should You Buy?
ZACKS· 2024-08-19 17:01
Momentum investing revolves around the idea of following a stock's recent trend in either direction. In the 'long' context, investors will be essentially be "buying high, but hoping to sell even higher." With this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving that way. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades. Even though momentum is a popular stock cha ...
MGIC Investment (MTG) Gains 24% YTD: More Room for Growth?
ZACKS· 2024-08-16 16:35
Shares of MGIC Investment Corporation (MTG) have rallied 23.8% year to date, outperforming the industry's growth of 12.7%, the Finance sector's rise of 10.4% and the Zacks S&P 500 composite's increase of 16.8%. With a market capitalization of $6.2 billion, the average volume of shares traded in the last three months was 1.7 million. Solid insurance in force, a decline in loss and claims payments, lower delinquency, better housing market fundamentals and prudent capital deployment drive this Zacks Rank #1 (S ...
Why MGIC (MTG) Might be Well Poised for a Surge
ZACKS· 2024-08-06 17:20
Investors might want to bet on MGIC Investment (MTG) , as earnings estimates for this company have been showing solid improvement lately. The stock has already gained solid short-term price momentum, and this trend might continue with its still improving earnings outlook. Analysts' growing optimism on the earnings prospects of this mortgage insurance company is driving estimates higher, which should get reflected in its stock price. After all, empirical research shows a strong correlation between trends in ...
MGIC Investment (MTG) Beats Q2 Earnings, Raises Dividend
ZACKS· 2024-08-01 14:46
MGIC Investment Corporation (MTG) reported second-quarter 2024 operating net income per share of 77 cents, which beat the Zacks Consensus Estimate by 24.2%. Moreover, the bottom line increased 13.2% year over year. MGIC Investment recorded total operating revenues of $306 million, which increased 3.4% year over year on higher net investment income, other revenues and premiums earned. The top line beat the consensus mark by 0.6%. The quarterly results reflected higher premiums written, improved net investmen ...
MGIC Investment Corporation (MTG) Hits Fresh High: Is There Still Room to Run?
ZACKS· 2024-08-01 14:15
Have you been paying attention to shares of MGIC Investment (MTG) ? Shares have been on the move with the stock up 14.7% over the past month. The stock hit a new 52-week high of $25.35 in the previous session. MGIC Investment has gained 28.8% since the start of the year compared to the 13.9% move for the Zacks Finance sector and the 15.3% return for the Zacks Insurance - Multi line industry. What's Driving the Outperformance? The stock has a great record of positive earnings surprises, as it hasn't missed o ...
MGIC (MTG) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
ZACKS· 2024-08-01 01:30
MGIC Investment (MTG) reported $305.55 million in revenue for the quarter ended June 2024, representing a year-over-year increase of 3.4%. EPS of $0.77 for the same period compares to $0.68 a year ago. The reported revenue represents a surprise of +0.61% over the Zacks Consensus Estimate of $303.7 million. With the consensus EPS estimate being $0.62, the EPS surprise was +24.19%. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to dete ...