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 Corporation reports developments in private mortgage insurance through its principal subsidiary, Mortgage Guaranty Insurance Corporation. MGIC serves mortgage lenders across the United States with insurance solutions that support mortgage credit risk management and low-down-payment lending.
Recurring MTG news includes quarterly operating results, portfolio statistics, new insurance written, reinsurance arrangements, and capital management actions such as dividends and share repurchases. Company updates also cover board and governance changes, lender-facing technology integrations, and product-service enhancements tied to MGIC's mortgage insurance operations.
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.
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.