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.
MGIC Investment Corporation (NYSE: MTG) announced that CEO Tim Mattke will participate in a fireside chat at the Barclays Global Financial Conference on September 13, 2022, at 11:15 a.m. Eastern Time. The event will be held at the New York Hilton Midtown and will be webcast live. Interested parties can access the webcast through the company's website. Related slides will be available on September 12, 2022. A replay will be accessible for 30 days afterward.
Mortgage Guaranty Insurance Corporation (MGIC), a subsidiary of MGIC Investment Corporation (NYSE: MTG), has announced significant personnel changes. Shreyans Jain joins as Senior Vice President of Mortgage Risk Analytics, bringing extensive experience from PNC and Fannie Mae. Richard Chang joins as Vice President of Internal Audit from Fiserv. Additionally, Danny García-Vélez has been promoted to Group Vice President of Regional Sales & Marketing, and Leslie Schunk to Vice President of Securities Law Counsel. These strategic appointments aim to enhance MGIC's competitiveness and operational effectiveness.
MGIC Investment Corporation (MTG) reported strong financial results for Q2 2022, with a net income of $249.3 million or $0.80 per diluted share, an increase from $153.1 million or $0.44 in Q2 2021. Adjusted net operating income was $254.4 million or $0.81 per share. New insurance written totaled $24.3 billion, up from $19.6 billion in Q1 2022. The company reduced delinquency inventory by 12% year-over-year. Total consolidated assets decreased to $6.6 billion, reflecting a drop in the investment portfolio's fair value due to rising market interest rates.
MGIC Investment Corporation (NYSE: MTG) declared a quarterly cash dividend of $0.10 per share, marking a 25% increase from the previous dividend of $0.08. This payment is set for August 25, 2022, to shareholders on record by August 11, 2022. The increase reflects the company's strong performance and commitment to returning value to shareholders.
MGIC Investment Corporation (NYSE: MTG) plans to release its second quarter 2022 financial results after the market closes on August 3, 2022. A conference call/webcast is scheduled for 10:00 a.m. Eastern Time on August 4, 2022 to discuss the results for the quarter ended June 30, 2022. The company encourages participants to register in advance to receive the dial-in number and unique PIN. A replay of the webcast will be accessible until September 5, 2022.
MGIC Investment Corporation (NYSE: MTG) announced it will redeem all outstanding 5.75% Senior Notes due 2023 on July 15, 2022. The redemption will occur at par plus a make-whole premium and accrued unpaid interest. Approximately $242.3 million of these Notes remains outstanding as of the announcement date. This action reflects the company's strategy to manage its debt portfolio effectively.
Mortgage Guaranty Insurance Corporation (MGIC) announced the promotions of Christina Ficks to Vice President – Customer Experience and Erik Leaver to Vice President – Mortgage Modeling Analytics. Ficks, with MGIC since 2017, has been integral in technology integration and automation. Leaver joined in 2020 and has advanced MGIC's risk modeling capabilities. Both promotions aim to enhance MGIC's service to customers and shareholders, reflecting the company's commitment to improving digital customer experiences in the mortgage insurance sector.
MGIC Investment Corporation (NYSE: MTG) reported a Q1 2022 net income of $175 million, or $0.54 per diluted share, up from $150 million in Q1 2021. Adjusted net operating income was $192.9 million, or $0.60 per diluted share. New insurance written decreased to $19.6 billion, reflecting a decline in the refinance market. Delinquency inventory fell to 30,462 loans, with a 2.61% delinquency rate. Shareholders received an $0.08 dividend per share, and the company reduced debt by $212 million.
MGIC Investment Corporation (NYSE: MTG) has elected Teresita M. Lowman to its Board of Directors as well as the Business Transformation and Technology Committee. Lowman brings extensive experience in digital business transformation and technology from her prior roles at DXC Technology, HP Enterprise, and Nortel Networks. The Chairman, Curt Culver, expressed confidence in her ability to contribute to the company’s strategic goals. MGIC’s focus remains on providing affordable low-down-payment mortgages through private mortgage insurance across the U.S. and beyond.
MGIC Investment Corporation (NYSE: MTG) declared a quarterly cash dividend of $0.08 per share, payable on May 26, 2022, to shareholders of record as of May 12, 2022. This announcement reflects the company's commitment to providing returns to its shareholders while supporting mortgage insurance for families seeking affordable housing options.
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