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) 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.
MGIC Investment Corporation (NYSE: MTG) announced that CEO Timothy Mattke will present at the Barclays Global Financial Services Conference on September 14, 2021, at 11:15 a.m. Eastern Time. The event will be held virtually and accessible via live webcast on the company's website. Related presentation slides will also be available prior to the event. A replay will be accessible for 30 days after the presentation.
The company provides mortgage insurance services, helping families achieve homeownership with affordable low-down-payment options.
Mortgage Guaranty Insurance Corporation (MGIC), a subsidiary of MGIC Investment Corporation (NYSE: MTG), has promoted Michael "Mike" E. Jacobson to Senior Vice President – Product Strategy. Jacobson has been with MGIC since 2018, previously serving as VP, Corporate Development, and VP, Product Strategy. His expertise will enhance MGIC's pricing strategies, credit enhancement solutions, and mortgage credit risk distribution. Sal Miosi, President and COO, emphasized Jacobson's contributions as vital for the company's ongoing success.
MGIC Investment Corporation (NYSE: MTG) reported a strong second quarter for 2021, with net income of $153.1 million ($0.44 per diluted share) compared to $14.0 million ($0.04 per diluted share) in Q2 2020. Adjusted net operating income was $151.5 million, up from $9.9 million a year earlier. The company declared a $150 million dividend and increased its quarterly dividend by 33%. New insurance written reached $33.6 billion, with insurance in force rising 4.1% to $262.0 billion. Primary delinquency inventory decreased significantly, indicating improving credit quality.
The Board of Directors of MGIC Investment Corporation (NYSE:MTG) has declared a quarterly cash dividend of $0.08 per share. This dividend is scheduled for payment on August 26, 2021, to shareholders of record by August 12, 2021. MGIC, through its principal subsidiary, Mortgage Guaranty Insurance Corporation, aids lenders in the U.S. and beyond by offering private mortgage insurance, enabling affordable low-down-payment mortgages for families seeking homeownership.
MGIC Investment Corporation (MTG) announced plans to release its second quarter 2021 financial results on August 4, 2021, followed by a conference call on August 5, 2021. The release will include key metrics related to mortgage insurance. In June 2021, the beginning primary delinquent inventory was 45,101 loans, and new delinquency notices rose to 3,229, while cures stood at 5,207. The data reflects ongoing impacts from the COVID-19 pandemic, with a substantial percentage of delinquent loans in forbearance.
MGIC Investment Corporation (NYSE: MTG) released its operational summary for May 2021, reporting a decrease in primary delinquent inventory to 45,101 loans from 47,825 in April. New delinquency notices for May totaled 3,016, while cures amounted to 5,638. The study shows 37% of new delinquency notices were in forbearance, and 58% of the primary delinquent inventory was also in forbearance. These figures reflect ongoing influences from the COVID-19 pandemic on the mortgage insurance landscape.
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.