Welcome to our dedicated page for Mgic Inv Cp news (Ticker: MTG), a resource for investors and traders seeking the latest updates and insights on Mgic Inv Cp stock.
MGIC Investment Corp. (NYSE: MTG) is a finance and insurance company focused on private mortgage insurance and mortgage credit risk management solutions through its principal subsidiary, Mortgage Guaranty Insurance Corporation (MGIC). This news page aggregates company announcements, earnings updates and other disclosures related to MGIC and its role in supporting low-down-payment mortgages for lenders throughout the United States.
Readers can find earnings releases and related conference call announcements, where MGIC Investment Corp. discusses quarterly financial results, net premiums, net investment income, insurance in force, capital metrics and non-GAAP measures such as adjusted net operating income. These items provide insight into the performance of the mortgage insurance portfolio and the company’s approach to risk and capital management.
The news feed also includes corporate actions and governance updates, such as board appointments, director changes and information about cash dividends declared on the company’s common stock. MGIC Investment Corp. has reported share repurchases and dividend decisions, giving investors additional context on capital allocation.
Sector-specific developments appear as well, including announcements about ratings actions from agencies such as Moody’s and updates on MGIC’s capabilities within mortgage technology platforms. These items highlight how the company positions its private mortgage insurance offerings and interacts with lenders and partners in the mortgage ecosystem.
For investors, analysts and market participants following MTG stock, this page offers a centralized view of company news that is relevant to mortgage insurance, capital strength, shareholder returns and governance. Users can review past announcements to understand trends in MGIC Investment Corp.’s operations and financial reporting and return regularly to see new updates as they are released.
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On April 5, 2023, MGIC Investment Corporation (NYSE: MTG) announced three key promotions in its Business Development sector, effective April 1, 2023. Danny Garcia-Velez is now the Senior Vice President of Business Development and Marketing, bringing valuable experience in housing policy and community development. Mike Kull has been promoted to Group Vice President – National Accounts, leveraging over 24 years in mortgage insurance. Kristy Stecker assumes the role of VP – National Account Manager, recognized for her strong customer relations in Arizona and New Mexico. These changes aim to enhance MGIC's commitment to customer experience and strengthen relationships with clients.
MGIC Investment Corporation (NYSE: MTG) is set to release its first quarter 2023 financial results on May 3, 2023, after market close. A conference call will follow on May 4, 2023, at 10:00 a.m. Eastern Time to discuss the results for the period ending March 31, 2023. Interested participants can register for the call to receive dial-in details and a unique PIN. The webcast will also be available on the Company's Investor website, with a replay accessible until June 5, 2023.
MGIC, a leader in private mortgage insurance, facilitates homeownership by offering affordable low-down-payment mortgages across the United States.
MGIC Investment Corporation (NYSE: MTG) reported strong financial results for Q4 and full year 2022. Q4 net income reached $191.4 million ($0.64/share), up from $173.9 million in Q4 2021. Full year net income was $865.3 million ($2.79/share), a significant increase from $635 million in 2021. Adjusted net operating income for Q4 was $193.3 million, slightly down from $202 million year-over-year. New insurance written decreased to $12.9 billion, reflecting a drop in origination markets. Despite this, total revenue held steady at $292.3 million. Asset value declined due to increased interest rates, but the company plans more share repurchases and maintained a strong capital position.
On January 24, 2023, MGIC Investment Corporation (NYSE: MTG) declared a quarterly cash dividend of $0.10 per share. This dividend will be payable on March 2, 2023, to shareholders recorded as of February 17, 2023. MGIC, serving mortgage lenders across the U.S., Puerto Rico, and beyond, aims to facilitate homeownership through affordable low-down-payment mortgages backed by private mortgage insurance.
MGIC Investment Corporation (NYSE: MTG) announced the retirement of Jay Hughes, Executive Vice President of Sales and Business Development, effective August 1, 2023. He will transition to the role of Special Advisor on April 1, 2023. Hughes, who has been with the company for over 35 years, will be succeeded by Danny Garcia-Velez, who brings significant experience and has held various leadership roles since joining in 2017. CEO Tim Mattke praised Hughes' contributions, emphasizing the impact of his legacy on the organization. The leadership transition is aimed at maintaining strong sales and business development to support MGIC's mission of facilitating affordable homeownership.
MGIC Investment Corporation (NYSE: MTG) plans to release its fourth-quarter 2022 financial results after the market closes on February 1, 2023. A conference call and webcast are scheduled for 10:00 a.m. Eastern Time on February 2, 2023 to discuss these results. Investors can access the call by registering for a dial-in number and PIN, or through the Company's Investor website. A replay of the webcast will be available until March 2, 2023. MGIC helps families achieve homeownership through affordable low-down-payment mortgages.
MGIC, a leader in private mortgage insurance, announced a partnership with Vesta, a modern loan origination system. This integration allows lenders using Vesta to request MGIC rate quotes and order mortgage insurance in real-time within the Vesta platform. The collaboration aims to enhance operational efficiency and reduce costs for lenders. Both companies emphasize the importance of easily accessible mortgage insurance in today’s lending environment.
MGIC Investment Corporation (MTG) reported a strong third quarter of 2022, with net income of $249.6 million or $0.81 per diluted share, up from $158.0 million last year. Adjusted net operating income reached $264.2 million or $0.86 per diluted share. New insurance written was $19.6 billion, a decline from previous quarters. Persistency rose to 75.7%. The company repurchased 6.1 million shares, paid a $0.10 dividend, and maintained strong capital metrics despite macroeconomic challenges.
On October 27, 2022, MGIC Investment Corporation (NYSE: MTG) declared a quarterly cash dividend of $0.10 per share, payable on November 23, 2022. This dividend is for shareholders of record as of November 10, 2022. MGIC helps lenders provide affordable low-down-payment mortgages through private mortgage insurance, contributing to homeownership across the U.S. and Puerto Rico.
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