Mgic Inv Cp Stock Price, News & Analysis

MGIC Investment Corporation (NYSE: MTG) reported a net income of $150.0 million for Q1 2021, up from $149.8 million in Q1 2020. Adjusted net operating income was $148.0 million, maintaining stability year-over-year. Insurance in force grew 11.6% to $251.7 billion, despite a decline in persistency from 73.0% last year to 56.2%. The loss ratio improved to 15.5%, down from 23.4% in Q1 2020. Total revenues decreased to $298.0 million from $306.9 million a year earlier, attributed to lower premiums and investment income. A dividend of $0.06 per share was declared.

The Board of Directors of MGIC Investment Corporation (MTG) has declared a quarterly cash dividend of $0.06 per share. This dividend is payable on May 27, 2021, to shareholders of record on May 13, 2021. MGIC provides private mortgage insurance, helping families achieve homeownership with affordable low-down-payment mortgages.

MGIC Investment Corporation (NYSE: MTG) will release its Q1 2021 financial results after market close on May 5, 2021. A conference call is set for May 6, 2021 at 10:00 a.m. ET. For March 2021, MGIC reported a starting delinquent inventory of 55,103 loans and new delinquency notices of 3,871. Cures amounted to 6,088 loans. As of March, 42% of new delinquency notices were in forbearance, while 61% of primary delinquent inventory was also in forbearance, indicating ongoing effects from the COVID-19 pandemic.

On March 5, 2021, MGIC Investment Corporation (NYSE: MTG) released its operational summary for February 2021, detailing mortgage insurance activities. The report indicates a decline in the primary delinquent inventory from January's 56,315 to 55,103 loans. New delinquency notices decreased to 4,330, while cures fell to 5,446. Notably, 62% of the primary delinquency inventory remains in forbearance, reflecting ongoing impacts from the COVID-19 pandemic. The company continues to monitor the economic landscape affecting delinquencies.

MGIC Investment Corporation (MTG) reported its fourth-quarter 2020 financial results, showing a net income of $151.4 million ($0.44 per diluted share), a decline from $177.1 million in Q4 2019. For the full year, net income was $446.1 million ($1.29 per share), down from $673.8 million in 2019. New insurance written in 2020 reached $112.1 billion, with a 10% increase in insurance in force y-o-y. However, primary delinquency inventory rose significantly from the previous year to 57,710 loans. The loss ratio increased to 17.5% in Q4 2020, while total revenues fell to $302.3 million.

MGIC Investment Corporation (NYSE: MTG) released its January 2021 Operational Summary, detailing mortgage insurance statistics. The report highlights a decrease in primary delinquent inventory, down to 56,315 loans, compared to 57,710 in December 2020. New delinquency notices also fell to 4,810, while cures totaled 6,094. Approximately 47% of new delinquency notices are in forbearance. The company anticipates continued impact on delinquency levels due to the COVID-19 pandemic, influenced by government measures and economic conditions.

Mortgage Guaranty Insurance Corporation (MGIC), a subsidiary of MGIC Investment Corporation (NYSE: MTG), has announced the promotions of Gary J. Johnson to Vice President – Data Science and Jennifer A. Westphal to Vice President – Chief Information Security Officer. Johnson, who has been with MGIC since 2006, has advanced through several roles in Risk and Finance, while Westphal has been with the company in various Information Security roles since 2012. Both promotions are expected to strengthen MGIC's data-driven capabilities and innovations.

The Board of Directors of MGIC Investment Corporation (NYSE:MTG) has declared a quarterly cash dividend of $0.06 per share, scheduled for payment on March 3, 2021. Shareholders of record as of February 17, 2021 will receive this dividend. This decision reflects the company’s commitment to returning value to shareholders. MGIC, through its principal subsidiary, provides private mortgage insurance to lenders, facilitating affordable homeownership.

MGIC Investment Corporation (MTG) will release its fourth quarter 2020 financial results after the market closes on February 23, 2021. A conference call is set for February 24, 2021, at 10:00 a.m. ET. The company provided December 2020 operating statistics, revealing a decrease in primary delinquent inventory from 61,521 in November to 59,236. The percentage of new delinquency notices in forbearance decreased to 46%, while the primary delinquency inventory in forbearance was 62%. Investors can access the information via the company's website.