Mgic Inv Cp Stock Price, News & Analysis

MGIC Investment Corporation (NYSE: MTG) plans to release its Q1 2022 financial results after the market closes on May 4, 2022. A conference call to discuss these results is scheduled for 10:00 a.m. ET on May 5, 2022. Participants can join the call by dialing 1-866-834-4126 or through the company's investor website. A replay will be available until June 5, 2022. MGIC operates in the private mortgage insurance market, aiding lenders and promoting homeownership.

MGIC Investment Corporation (NYSE: MTG) announced the retirement of Senior Vice President of Investor Relations, Michael J. Zimmerman, after 27 years. Dianna Higgins, the current Vice President of Internal Audit, will succeed him. She has been with the company since 1996, demonstrating a strong track record in Risk Management and Audit. Higgins will initially have a transitional role as Vice President of Finance, reporting to CEO Tim Mattke, who expressed gratitude for Zimmerman's service and optimism about Higgins’ leadership capabilities.

MGIC Investment Corporation (NYSE: MTG) reported its fourth-quarter 2021 results, showing a net income of $173.9 million ($0.52 per diluted share), up from $151.4 million ($0.44 per diluted share) year-over-year. For the full year, net income reached $635.0 million ($1.85 per diluted share), compared to $446.1 million ($1.29 per diluted share) in 2020. The company wrote a record $120 billion in new insurance in 2021, increasing its insurance in force by 11%. MGIC paid a $250 million dividend and repurchased $141 million in shares. Book value per share rose to $15.18, representing a 9.4% increase from 2020.

MGIC Investment Corporation (NYSE: MTG) announced a quarterly cash dividend of $0.08 per share, payable on March 2, 2022. Shareholders of record as of February 16, 2022 will be eligible to receive the dividend. This decision reinforces MGIC's commitment to returning value to its shareholders while supporting homeownership through affordable mortgage insurance. MGIC operates across the United States and Puerto Rico, assisting lenders in offering low-down-payment mortgages.

MGIC Investment Corporation (NYSE: MTG) will announce its fourth-quarter 2021 financial results on February 2, 2022, after market close. A conference call will be hosted on February 3, 2022, at 10:00 a.m. ET to discuss the results. Interested parties can join via telephone at 1-866-834-4126 or through a webcast on the company's investor website, with a replay available until March 3, 2022.

MGIC provides private mortgage insurance, facilitating affordable low-down-payment mortgages.

Mortgage Guaranty Insurance Corporation (MGIC), a subsidiary of MGIC Investment Corporation (NYSE: MTG), has welcomed Sri Kadasinghanahalli as Vice President of Systems Development, effective October 18, 2021. Kadasinghanahalli brings extensive experience from roles at PNC Financial, Truist Financial, and SunTrust Bank, specializing in Big Data solutions and security technology. His leadership is expected to contribute to MGIC's goal of becoming a leading digital, data-driven company, as stated by Bob Candelmo, MGIC's SVP Chief Information Officer.

MGIC Investment Corporation (NYSE: MTG) reported a net income of $158.0 million for Q3 2021, up from $130.8 million in Q3 2020. Adjusted net operating income also rose to $157.1 million. New insurance written was $28.7 billion, reflecting a drop from previous quarters. The company repurchased 3.0% of shares outstanding for $150 million and authorized an additional $500 million buyback program. Total revenues slightly decreased to $295.7 million. The loss ratio improved to 8.1%, down from 15.9% in Q3 2020.

MGIC Investment Corporation (NYSE: MTG) has announced a new share repurchase program allowing for the buyback of up to $500 million of common stock through the end of 2023. This follows a remaining authorization of approximately $141 million set to expire at the end of 2021. As of September 30, 2021, the company had approximately 329.3 million shares outstanding and $716 million in cash and investments. Additionally, a quarterly cash dividend of $0.08 per share was declared, payable on November 23, 2021.

MGIC Investment Corporation (NYSE: MTG) plans to release its Q3 2021 financial results on November 3, after market close. A conference call is scheduled for November 4 at 10:00 a.m. ET to discuss results from the quarter ending September 30, 2021. The call can be accessed via telephone or through the company's investor website. A replay will be available until December 4.