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Key Takeaways MTG's NIW rose 8.5% to $17.8 billion, the highest quarterly level since the third quarter of 2022. MTG's IIF increased 2.6% to $304.8 billion, expanding its premium-generating base for future growth. MTG had $2.7 billion of PMIERs excess, while reinsurance reduced PMIERs required assets by 52%. MGIC Investment Corporation (MTG - Free Report) appears well positioned to sustain attractive earnings and capital returns in the near term. However, the earnings mix could shift as mortgage-insurance credit conditions gradually normalize.

New insurance written (NIW) rose 8.5% year over year to $17.8 billion in the second quarter of 2026, the highest quarterly level since the third quarter of 2022, while insurance in force (IIF) increased 2.6% to $304.8 billion. The growth in NIW and IIF provides MTG with a larger premium-generating base and supports future revenue growth.

For MTG, credit normalization refers to a gradual increase in mortgage delinquencies and potential claims as the exceptionally favorable credit performance of recent years moves closer to historical norms. So far, the normalization appears manageable. MTG's primary delinquency rate increased to 2.37% from 2.21% a year earlier, but declined 7 basis points sequentially from 2.44% in the first quarter of 2026. Management expects some seasonal increase in delinquencies in the second half of the year, but current trends do not indicate a material deterioration in credit quality.

MTG also benefits from strong cure activity, favorable performance from newer policy vintages and substantial capital resources. The company had $2.7 billion of PMIERs excess as of June 30, 2026, while its reinsurance program reduced PMIERs required assets by approximately 52%. These factors provide a meaningful cushion against higher delinquencies and claims and help support capital flexibility.

Overall, MTG should be able to sustain attractive earnings and capital returns as long as credit normalization remains gradual rather than developing into a broader deterioration in mortgage credit quality. Improving NIW, a growing IIF portfolio, disciplined expenses, strong capitalization and reinsurance protection provide a solid foundation. However, investors should expect future earnings to rely increasingly on portfolio growth and recurring operating performance rather than exceptionally favorable loss development.

What About Its Peers?Radian Group’s (RDN - Free Report) mortgage-insurance portfolio is exposed to the same gradual normalization in borrower delinquencies and claims, although strong home equity provides an important buffer.

Essent Group's (ESNT - Free Report) significant portion of its portfolio is entering the period when mortgage-insurance claims are typically highest. Essent expects incurred losses and claims to increase as older books mature.

MTG’s Price PerformanceShares of MTG have gained 11.3% over the past year, outperforming the industry.

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MTG’s UndervaluationThe stock is undervalued compared with its industry. Its forward price-to-book value of 1.27X is lower than the industry average of 2.67X. It carries a Value Score of B.

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Estimate Movement for MTGThe Zacks Consensus Estimate for MTG’s full-year 2026 and 2027 EPS has moved up 6.2% and 4.8%, respectively, in the past 30 days.
The consensus estimate for MTG’s 2027 EPS and revenues indicates a year-over-year increase. 

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MTG stock currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Here are three stocks with buy rank and strong income characteristics for investors to consider today, August 26:

MGIC Investment Corporation (MTG - Free Report) : This mortgage insurance company has witnessed the Zacks Consensus Estimate for its current year earnings increasing 6.2% over the last 60 days.

This Zacks Rank #1 company has a dividend yield of 2.2%, compared with the industry average of 1.8%.

United Microelectronics Corporation (UMC - Free Report) : This semiconductor wafer foundry has witnessed the Zacks Consensus Estimate for its current year earnings increasing 75.7% over the last 60 days.

This Zacks Rank #1 company has a dividend yield of 1.6%, compared with the industry average of 0.0%.

Richardson Electronics, Ltd. (RELL - Free Report) : This company that engages in the power and microwave technologies, customized display solutions, and healthcare has witnessed the Zacks Consensus Estimate for its current year earnings increasing 30.8% over the last 60 days.

This Zacks Rank #1 company has a dividend yield of 1.4%, compared with the industry average of 0.6%.

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Find more top income stocks with some of our great premium screens.

Here are five stocks added to the Zacks Rank #1 (Strong Buy) List today:

BrightSpring Health Services, Inc. (BTSG - Free Report) : This home and community-based healthcare services platform has seen the Zacks Consensus Estimate for its current year earnings increasing nearly 9% over the last 60 days.

OptimumBank Holdings, Inc. (OPHC - Free Report) : This bank holding company for OptimumBank has seen the Zacks Consensus Estimate for its current year earnings increasing 16.5% over the last 60 days.

Heritage Insurance Holdings, Inc. (HRTG - Free Report) : This insurance and financial services company has seen the Zacks Consensus Estimate for its current year earnings increasing 27% over the last 60 days.

United Microelectronics Corporation (UMC - Free Report) : This semiconductor wafer foundry has seen the Zacks Consensus Estimate for its current year earnings increasing 75.7% over the last 60 days.

MGIC Investment Corporation (MTG - Free Report) : This mortgage insurance company has seen the Zacks Consensus Estimate for its current year earnings increasing 6.2% over the last 60 days.

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Teledyne Space Imaging, a leading supplier of space-qualified imaging sensors, focal plane arrays and integrated camera systems, has announced the successful launch of the Meteosat Third Generation Imager-2 (MTG-I2) satellite, which carries a Teledyne Space Imaging CIS111 detector within its Flexible Combined Imager (FCI) instrument. MTG-I2 launched on Ariane 6 at 21:11 BST on August 27 from Europe’s Spaceport in French Guiana.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260828172434/en/

CIS111 imaging sensor aboard MTG-I2

This marks another milestone for the Meteosat Third Generation (MTG) programme, one of the most advanced geostationary meteorological satellite systems ever developed. Operated by EUMETSAT, this new generation of geostationary satellites deliver greater meteorological capability, providing more detailed and more frequent observations from geostationary orbit. The system will help forecasters track the development of severe weather in near real time, improve numerical weather prediction models and, for the first time, support continuous lightning detection across Europe, Africa, the Middle East and surrounding waters. These capabilities will help meteorological services provide earlier and more accurate warnings of high impact weather events while contributing to long term climate monitoring.

MTG-I2 follows the successful launch of MTG-I1, now known as Meteosat-12, in December 2022, continuing Teledyne Space Imaging's contribution to the Meteosat Third Generation programme through its CIS111 detector technology.

"Developing detector technology for a mission such as MTG requires a careful balance of performance, reliability and resilience," said Jérôme Pratlong, designer of the CIS111 and Head of Strategy & Technology at Teledyne Space Imaging. "The CIS111 was specifically engineered to meet the demanding requirements of continuous Earth observation from geostationary orbit, incorporating a unique large pixel architecture and radiation hardened design. The launch of MTG-I2 marks another important milestone for the MTG programme and for the Teledyne Space Imaging team, and we look forward to supporting the delivery of critical meteorological and environmental data for years to come."

FCI is designed to deliver frequent, high-resolution observations of the Earth from geostationary orbit. At its heart is the CIS111, a five channel, large pixel, programmable, radiation hardened integrated sensor assembly developed by Teledyne Space Imaging. The detector features very large rhombus shaped pixels measuring up to 100 x 100 microns, rather than the conventional square pixel architecture commonly used in imaging sensors - which improves the imaging resolution for the particular application of MTG-I2. The device also incorporates a proprietary black coating process developed by Teledyne Space Imaging to minimise internal reflections and optimise image performance.

MTG-I2 is the second of four Meteosat Third Generation Imager (MTG-I) satellites planned for the constellation, with the remaining two satellites currently scheduled for launch in 2032 and 2036. As the constellation continues to expand, it will provide critical observations that support weather forecasting, climate science, disaster response, aviation safety and a wide range of environmental services worldwide.

About Teledyne Space Imaging

Teledyne Space Imaging of Teledyne Technologies Incorporated NYSE:TDY has a distinguished legacy in developing space-qualified imaging sensors, focal plane arrays, and integrated camera systems for leading space agencies and observatories including NASA, ESA, JAXA, and KASA. Its heritage spans more than 250 space projects, along with a wide range of commercial space applications. Teledyne Space Imaging designs, tests and manufactures a range of CCD, CMOS, and IR detectors with optical filters and package options to meet every performance requirement.

About Teledyne

Teledyne is a leading provider of sophisticated digital imaging products and software, instrumentation, aerospace and defense electronics, and engineered systems. Teledyne's operations are primarily located in the United States, Canada, the United Kingdom, and Western and Northern Europe. For more information, visit Teledyne's website at www.teledyne.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20260828172434/en/

Disclosures I/we have no positions in any stocks mentioned, and have no plans to buy any new positions in the stocks mentioned within the next 72 hours.

Click for the complete disclosure

Bank of America Corp DE increased its position in shares of MGIC Investment Corporation (NYSE: MTG) by 15.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,415,378 shares of the insurance provider's stock after buying an additional 188,519 shares during the

2 Real-Estate Related Stocks Showing Signs Of Being UndervaluedMGIC Investment NYSE: MTG reported second-quarter 2026 net income of $182 million, or $0.86 per diluted share, as favorable reserve development and lower operating expenses supported results. The mortgage insurer recorded an annualized return on equity of 14.5% and said book value per share rose 10% from a year earlier to $24.27.

Chief Executive Officer Tim Mattke said the company wrote $18 billion in new insurance written during the quarter, up 8.5% from the second quarter of 2025 and its highest quarterly level since the third quarter of 2022. He attributed the increase to a slightly larger mortgage-origination market, supported by seasonal growth in purchase activity.

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Insurance in force ended the quarter at $305 billion, rising slightly sequentially and 2.6% year over year. Annual persistency was 83%, compared with 84% in the first quarter, in line with management's previous expectations.

Credit Trends and Reserve Development Chief Financial Officer Nathan Colson said the company recognized $43 million in favorable loss reserve development during the quarter, primarily reflecting better-than-expected cure activity among delinquency notices received in 2025.

MGIC maintained its initial claim-rate assumption of 7.5% for new delinquency notices received in the second quarter. Its count-based delinquency rate declined seven basis points from the prior quarter, which Colson said was expected to reflect seasonal trends. The delinquency rate was nevertheless 16 basis points higher than a year earlier at 2.37%.

Management expects seasonal patterns to contribute to higher delinquencies in the second half of 2026, but said credit performance remains consistent with the “credit normalization” the company has experienced over the past three years. The delinquency rate remained 43 basis points below the level reported in the second quarter of 2019.

In response to questions about the composition of new delinquencies, Colson said the company has not seen meaningful changes by geography, key credit variables or home-price performance. He said the trends appeared broad-based rather than indicative of deterioration in a particular segment.

Colson said fully developed claim rates for delinquency notices from two or three years ago have generally been in the 2% to 3% range, while more recent notices may trend modestly higher. Management currently sees fully developed notice quarters at roughly 3% to 4% ultimate claim rates, still below the 7.5% assumption used for newly reported notices. If current credit conditions continue, the company expects it could have further reserve redundancy available for release through favorable development.

Premiums, Expenses and Housing Market Outlook MGIC’s in-force premium yield was 38 basis points in the quarter, down by less than one basis point over the past three years. Colson said that with persistency expected to remain high in 2026 and mortgage-insurance origination trends resembling last year’s levels, the yield is expected to continue along a similar trajectory.

Mattke described the mortgage insurance market as competitive, with six active participants. He said gross premium rates declined slightly during the quarter, continuing a gradual multiyear trend, but added that the company did not see a material change in competitive conditions or a steepening in the rate decline.

Management said affordability remains strained by mortgage rates and home prices, while the refinance market is likely to remain limited at current interest-rate levels. Mattke said the purchase market showed positive signs during the quarter, but that the company does not expect a major change in the broader market in the foreseeable future.

MGIC has not made meaningful changes to its underwriting guidelines, Colson said. The mix of business has remained broadly consistent, although the amount of business with debt-to-income ratios above 45% has declined modestly over the past two years. He said management is comfortable with the current mix and does not see a need for significant underwriting changes.

Investment income totaled $59 million, with the investment portfolio’s book yield remaining near 4%. Reinvestment rates on fixed-income securities continued to exceed the book yield, although capital-return activity has limited investment portfolio growth. Underwriting and other expenses declined to $46 million from $52 million a year earlier. The company now expects full-year operating expenses to fall toward the low end of its previously stated $190 million to $200 million range.

Capital Returns and Reinsurance MGIC paid a quarterly common dividend of $0.15 per share and repurchased 6.6 million shares for $177 million during the second quarter. Over the past four quarters, the company repurchased $746 million of shares and paid $135 million in dividends, representing 124% of net income over that period.

The board approved an increase in the quarterly common dividend to $0.17 per share. Colson said the increase marked the company’s sixth consecutive year of dividend growth, representing a 19% compound annual growth rate over that period.

Management said share repurchases are being targeted at approximately the level of net income while insurance in force has limited growth and credit performance remains strong. Mattke said the company’s new repurchase authorization should be viewed as a continuation of its existing capital-return approach rather than an acceleration.

The company ended the quarter with $6 billion of balance-sheet capital. Its reinsurance program reduced PMIERs required assets by $3.1 billion, or about 52%, at quarter-end. During the quarter, MGIC completed a traditional excess-of-loss reinsurance transaction that provides up to $168 million of protection on eligible 2027 new insurance written.

Colson said MGIC intends to remain active in quota-share, excess-of-loss and insurance-linked note markets. The company generally seeks to allocate risk-sharing across those three channels, while using differing structures based on the timing and characteristics of the underlying insured loans.

About MGIC Investment (NYSE:MTG)MGIC Investment Corporation NYSE: MTG is a leading provider of private mortgage insurance in the United States. Established in 1957 as the nation's first private mortgage insurer, MGIC helps lenders manage credit risk and facilitates homeownership by protecting mortgage loans against default. Headquartered in Milwaukee, Wisconsin, the company operates through its principal subsidiary, Mortgage Guaranty Insurance Corporation, and maintains relationships with a broad network of originators and servicers nationwide.

The company's primary business activity involves issuing mortgage insurance policies that enable borrowers to purchase homes with down payments below traditional lending thresholds.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

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For the quarter ended June 2026, MGIC Investment (MTG - Free Report) reported revenue of $297.61 million, down 2.6% over the same period last year. EPS came in at $0.87, compared to $0.82 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $298.54 million, representing a surprise of -0.31%. The company delivered an EPS surprise of +17.57%, with the consensus EPS estimate being $0.74.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how MGIC performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

GAAP loss ratio (insurance operations only): 4.6% versus 16.6% estimated by two analysts on average.Combined Ratio - Insurance Segment (Net of underwriting expense ratio and Loss ratio): 24.4% versus 38.4% estimated by two analysts on average.GAAP underwriting expense ratio (insurance operations only): 19.8% versus the two-analyst average estimate of 21.9%.Revenues- Net investment income: $59.47 million compared to the $60.69 million average estimate based on two analysts. The reported number represents a change of -2.5% year over year.Revenues- Net premiums earned: $238.06 million compared to the $237.53 million average estimate based on two analysts. The reported number represents a change of -2.6% year over year.Revenues- Other revenue: $0.09 million versus $0.41 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -74% change.View all Key Company Metrics for MGIC here>>>

Shares of MGIC have returned +8.4% over the past month versus the Zacks S&P 500 composite's +1.9% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.

Second Quarter 2026 Net Income of $182.1 million or $0.86 per Diluted Share

Second Quarter 2026 Adjusted Net Operating Income (Non-GAAP) of $183.7 million or $0.87 per Diluted Share

,  /PRNewswire/ -- MGIC Investment Corporation (NYSE: MTG) today reported operating and financial results for the second quarter of 2026.

Tim Mattke, CEO of MTG and Mortgage Guaranty Insurance Corporation ("MGIC") said, "Our strong second quarter results, highlighted by a 14.5% return on equity, reflect the continued success of our disciplined execution. We've delivered consistent performance, generated meaningful returns for shareholders, and strengthened our position for the future. Our deep industry expertise, strong balance sheet, and customer-focused approach continue to drive sustainable value."

SUMMARY FINANCIAL METRICS

Quarter ended

 ($ in millions, except where otherwise noted)

Q2 2026

Q1 2026

Q2 2025

Net income

$              182.1

$              165.3

$              192.5

Net income per diluted share

$                0.86

$                0.76

$                0.81

Adjusted net operating income

$              183.7

$              165.1

$              194.0

Adjusted net operating income per diluted share

$                0.87

$                0.76

$                0.82

New insurance written (NIW) (billions)

$                17.8

$                14.4

$                16.4

Net premiums earned

$              238.1

$              235.4

$              244.3

Insurance in force (billions)

$              304.8

$              302.7

$              297.0

Annual persistency

83.3 %

84.0 %

84.7 %

Losses incurred, net

$                11.0

$                33.2

$                (2.8)

Primary delinquency inventory

26,152

27,006

24,444

Primary IIF delinquency rate (count based)

2.37 %

2.44 %

2.21 %

Loss ratio

4.6 %

14.1 %

(1.2 %)

Underwriting expense ratio

19.8 %

20.5 %

21.9 %

In force portfolio yield (bps)

37.8

38.0

38.3

Net premium yield (bps)

31.3

31.1

33.0

Annualized return on equity

14.5 %

13.0 %

15.0 %

Book value per common share outstanding

$              24.27

$              23.63

$              22.11

Adjust for AOCI

$                0.81

$                0.79

$                0.88

Tangible book value per share

$              25.08

$              24.41

$              22.99

CAPITAL AND LIQUIDITY

As of

($ in billions, except where otherwise noted)

June 30, 2026

March 31, 2026

June 30, 2025

PMIERs available assets

$                    5.6

$                    5.8

$                    5.7

PMIERs excess

$                    2.7

$                    2.9

$                    2.4

Holding company liquidity (millions)

$                   930

$                    709

$                 1,046

SECOND QUARTER 2026 HIGHLIGHTS

We repurchased 6.6 million shares of common stock for $176.6 million. We paid a dividend of $0.15 per common share to shareholders. MGIC paid a $400 million dividend to our holding company. Our board of directors approved a share repurchase program, authorizing us to purchase an additional $750 million of common stock prior to December 31, 2028. THIRD QUARTER 2026 HIGHLIGHTS

Through July 24, 2026 we repurchased an additional 1.5 million shares of our common stock for $42.4 million. We declared a dividend of $0.17 per common share to shareholders payable on August 20, 2026, to shareholders of record at the close of business on August 5, 2026. We executed a traditional excess-of-loss reinsurance transaction which provides up to $168 million of reinsurance coverage on eligible NIW in 2027. Conference Call and Webcast Details

MGIC Investment Corporation will hold a conference call July 30, 2026, at 10:00 a.m. ET to allow securities analysts and shareholders the opportunity to hear management discuss the company's quarterly results. Individuals interested in joining by telephone should register for the call at https://edge.media-server.com/mmc/p/m2vjy8nq/ to receive the dial-in number and unique PIN to access the call. It is recommended that you join the call at least 10 minutes before the conference call begins. The call is also being webcast and can be accessed at the company's website at http://mtg.mgic.com/ under "Newsroom." A replay of the webcast will be available on the company's website through August 31, 2026.

About MGIC

Mortgage Guaranty Insurance Corporation (MGIC) (www.mgic.com), the principal subsidiary of MGIC Investment Corporation, provides mortgage insurance solutions that support responsible credit risk management for mortgage lenders and investors and enable borrowers to qualify for mortgages with lower down payments. As the founder and longstanding leader of today's private mortgage insurance industry, MGIC continues to guide the industry's evolution while serving as a trusted partner to lenders across the country.

This press release, which includes certain additional statistical and other information, including non-GAAP financial information and a supplement that contains various portfolio statistics, are all available on the Company's website at https://mtg.mgic.com/ under "Newsroom."

From time to time MGIC Investment Corporation releases important information via postings on its corporate website, and via postings on MGIC's website for information related to underwriting and pricing, and intends to continue to do so in the future. Such postings include corrections of previous disclosures and may be made without any other disclosure. Investors and other interested parties are encouraged to enroll to receive automatic email alerts and Really Simple Syndication (RSS) feeds regarding new postings. Enrollment information for MGIC Investment Corporation alerts can be found at https://mtg.mgic.com/shareholder-services/email-alerts. For information about our underwriting and rates, see https://www.mgic.com/underwriting. 

Use of Non-GAAP financial measures

We believe that use of the Non-GAAP financial measures of adjusted pre-tax operating income (loss), adjusted net operating income (loss) and adjusted net operating income (loss) per diluted share facilitate the evaluation of the company's core financial performance thereby providing relevant information to investors. These measures are not recognized in accordance with accounting principles generally accepted in the United States of America (GAAP) and should not be viewed as alternatives to GAAP measures of performance.

Adjusted pre-tax operating income (loss) is defined as GAAP income (loss) before tax, excluding the effects of net realized investment gains (losses), gain and losses on debt extinguishment and infrequent or unusual non-operating items where applicable.

Adjusted net operating income (loss) is defined as GAAP net income (loss) excluding the after-tax effects of net realized investment gains (losses), gain and losses on debt extinguishment and infrequent or unusual non-operating items where applicable. The amounts of adjustments to components of pre-tax operating income (loss) are tax effected using a federal statutory tax rate of 21%.

Adjusted net operating income (loss) per diluted share is calculated in a manner consistent with the accounting standard regarding earnings per share by dividing (i) adjusted net operating income (loss) by (ii) diluted weighted average common shares outstanding, which reflects share dilution from unvested restricted stock units.

Although adjusted pre-tax operating income (loss) and adjusted net operating income (loss) exclude certain items that have occurred in the past and are expected to occur in the future, the excluded items represent items that are: (1) not viewed as part of the operating performance of our primary activities; or (2) impacted by both discretionary and other economic or regulatory factors and are not necessarily indicative of operating trends, or both. These adjustments, along with the reasons for their treatment, are described below. Trends in the profitability of our fundamental operating activities can be more clearly identified without the fluctuations of these adjustments. Other companies may calculate these measures differently. Therefore, their measures may not be comparable to those used by us.

(1) Net realized investment gains (losses). The recognition of net realized investment gains or losses can vary significantly across periods as the timing of individual securities sales is highly discretionary and is influenced by such factors as market opportunities, our tax and capital profile, and overall market cycles.

(2) Gains and losses on debt extinguishment. Gains and losses on debt extinguishment result from discretionary activities that are undertaken to enhance our capital position, and/or improve our debt profile.

(3) Infrequent or unusual non-operating items. Items that are non-recurring in nature and are not part of our primary operating activities.

MGIC INVESTMENT CORPORATION AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)

Three Months Ended June 30,

Six Months Ended June 30,

(In thousands, except per share data)

2026

2025

2026

2025

Net premiums written

$    229,962

$    237,384

$    464,905

$    472,730

Revenues

Net premiums earned

$    238,057

$    244,322

$    473,420

$    488,041

Net investment income

59,465

60,995

121,207

122,438

Net gains (losses) on investments and other financial instruments

(2,226)

(1,426)

(2,395)

(685)

Other revenue

92

354

233

685

Total revenues

295,388

304,245

592,465

610,479

Losses and expenses

Losses incurred, net

10,986

(2,835)

44,228

6,756

Underwriting and other expenses, net

45,575

52,092

93,683

105,155

Interest expense

8,899

8,899

17,798

17,798

Total losses and expenses

65,460

58,156

155,709

129,709

Income before tax

229,928

246,089

436,756

480,770

Provision for income taxes

47,783

53,607

89,308

102,828

Net income

$    182,145

$    192,482

$    347,448

$    377,942

Net income per diluted share

$       0.86

$        0.81

$       1.62

$        1.56

MGIC INVESTMENT CORPORATION AND SUBSIDIARIES

EARNINGS PER SHARE (UNAUDITED)

Three Months Ended June 30,

Six Months Ended June 30,

(In thousands, except per share data)

2026

2025

2026

2025

Net income - basic and diluted

$      182,145

$       192,482

$      347,448

$       377,942

Basic weighted average common shares outstanding

209,923

236,333

213,012

240,218

Dilutive effect of unvested restricted stock units

1,022

1,638

1,536

1,991

Diluted weighted average common shares outstanding

210,945

237,971

214,548

242,209

Diluted earnings per share

$          0.86

$          0.81

$          1.62

$          1.56

NON-GAAP RECONCILIATIONS

Reconciliation of Income before tax / Net income to Adjusted pre-tax operating income / Adjusted net operating income

Three Months Ended June 30,

2026

2025

(In thousands, except per share amounts)

Pre-tax

Tax Effect

Net

(after-tax)

Pre-tax

Tax Effect

Net

(after-tax)

Income before tax / Net income

$ 229,928

$  47,783

$  182,145

$ 246,089

$  53,607

$   192,482

Adjustments:

Net realized investment (gains) losses

1,963

412

1,551

1,944

408

1,536

Adjusted pre-tax operating income / Adjusted

net operating income

$ 231,891

$  48,195

$  183,696

$ 248,033

$  54,015

$   194,018

Reconciliation of Net income per diluted share to Adjusted net operating income per diluted share

Weighted average shares - diluted

210,945

237,971

Net income per diluted share

$      0.86

$      0.81

Net realized investment (gains) losses

0.01

0.01

Adjusted net operating income per diluted share

$      0.87

$      0.82

Reconciliation of Income before tax / Net income to Adjusted pre-tax operating income / Adjusted net operating income

Six Months Ended June 30,

2026

2025

(In thousands, except per share amounts)

Pre-tax

Tax Effect

Net
(after-tax)

Pre-tax

Tax Effect

Net
(after-tax)

Income before tax / Net income

$ 436,756

$  89,308

$  347,448

$ 480,770

$ 102,828

$   377,942

Adjustments:

Net realized investment (gains) losses

1,763

370

1,393

1,625

341

1,284

Adjusted pre-tax operating income / Adjusted
net operating income

$ 438,519

$  89,678

$  348,841

$ 482,395

$ 103,169

$   379,226

Reconciliation of Net income per diluted share to Adjusted net operating income per diluted share

Weighted average shares - diluted

214,548

242,209

Net income per diluted share

$      1.62

$      1.56

Net realized investment (gains) losses

0.01

0.01

Adjusted net operating income per diluted share

$      1.63

$      1.57

MGIC INVESTMENT CORPORATION AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)

June 30,

December 31,

June 30,

(In thousands, except per share data)

2026

2025

2025

ASSETS

Investments (1)

$    5,717,441

$    5,807,662

$    5,818,478

Cash and cash equivalents

207,277

368,989

294,871

Restricted cash and cash equivalents

7,819

6,525

4,024

Reinsurance recoverable on loss reserves (2)

76,144

65,055

53,781

Home office and equipment, net

31,604

32,454

33,210

Deferred insurance policy acquisition costs

7,473

8,377

10,274

Deferred income taxes, net

131,243

18,512

41,818

Other assets

347,981

331,912

285,871

Total assets

$    6,526,982

$    6,639,486

$    6,542,327

LIABILITIES AND SHAREHOLDERS' EQUITY

Liabilities:

Loss reserves (2)

$      492,001

$      474,884

$      452,154

Unearned premiums

84,511

93,026

105,049

Senior notes

646,874

646,138

645,402

Other liabilities

290,237

277,887

184,778

Total liabilities

1,513,623

1,491,935

1,387,383

Shareholders' equity

5,013,359

5,147,551

5,154,944

Total liabilities and shareholders' equity

$    6,526,982

$    6,639,486

$    6,542,327

Book value per share (3)

$        24.27

$        23.47

$        22.11

(1) Investments include net unrealized gains (losses) on securities

$     (196,727)

$     (152,767)

$     (224,917)

(2) Loss reserves, net of reinsurance recoverable on loss reserves

$      415,857

$      409,829

$      398,373

(3) Shares outstanding

206,603

219,367

233,138

MGIC INVESTMENT CORPORATION AND SUBSIDIARIES

ADDITIONAL INFORMATION - NEW INSURANCE WRITTEN

2026

2025

Year-to-date

Q2

Q1

Q4

Q3

Q2

2026

2025

New primary insurance written (NIW) (billions)

$  17.8

$  14.4

$  17.1

$  16.5

$  16.4

$  32.2

$ 26.6

Monthly (including split premium plans) and

annual premium plans

17.2

13.9

16.6

16.1

16.0

31.1

25.9

Single premium plans

0.6

0.5

0.5

0.4

0.4

1.1

0.7

Product mix as a % of primary NIW

Credit score < 680

5 %

5 %

5 %

4 %

4 %

5 %

4 %

>95% LTVs

15 %

14 %

15 %

17 %

13 %

14 %

13 %

>45% DTI

25 %

25 %

26 %

27 %

26 %

25 %

28 %

Singles

3 %

4 %

3 %

2 %

2 %

3 %

2 %

Refinances

10 %

21 %

17 %

6 %

6 %

15 %

6 %

New primary risk written (billions)

$   4.6

$    3.8

$    4.4

$    4.4

$    4.3

$   8.4

$  6.9

MGIC INVESTMENT CORPORATION AND SUBSIDIARIES

ADDITIONAL INFORMATION - INSURANCE IN FORCE and RISK IN FORCE

2026

2025

Q2

Q1

Q4

Q3

Q2

Primary Insurance In Force (IIF) (billions)

$       304.8

$       302.7

$       303.1

$       300.8

$       297.0

Total # of loans

1,105,114

1,106,958

1,112,727

1,111,855

1,107,526

Premium Yield

In force portfolio yield (1)

37.8

38.0

38.0

38.3

38.3

Premium refunds (2)

(0.2)

(0.3)

(0.4)

(0.3)

(0.1)

Accelerated earnings on single premium

0.2

0.2

0.3

0.2

0.2

Total direct premium yield

37.8

37.9

37.9

38.2

38.4

Ceded premiums earned, net of profit

commission and assumed premiums (3)

(6.5)

(6.8)

(6.7)

(5.9)

(5.4)

Net premium yield

31.3

31.1

31.2

32.3

33.0

Average Loan Size of IIF (thousands)

$       275.8

$       273.4

$       272.4

$       270.6

$       268.2

Annual Persistency

83.3 %

84.0 %

84.8 %

85.0 %

84.7 %

Primary Risk In Force (RIF) (billions)

$        81.8

$         81.2

$         81.2

$         80.6

$        79.5

By credit score (%) (4)

760 & >

45 %

45 %

45 %

45 %

44 %

740-759

18 %

18 %

18 %

18 %

18 %

720-739

14 %

14 %

14 %

14 %

14 %

700-719

10 %

10 %

10 %

10 %

10 %

680-699

7 %

7 %

7 %

7 %

7 %

660-679

3 %

3 %

3 %

3 %

3 %

640-659

2 %

2 %

2 %

2 %

2 %

639 & <

1 %

1 %

1 %

1 %

2 %

Average Coverage Ratio (RIF/IIF)

26.8 %

26.8 %

26.8 %

26.8 %

26.8 %

(1)

Total direct premiums earned, excluding premium refunds and accelerated premiums from single premium policy cancellations divided by average primary insurance in force.

(2)

Premium refunds and our estimate of refundable premium on our delinquency inventory divided by average primary insurance in force.

(3)

Ceded premiums earned, net of profit commissions and assumed premiums. Assumed premiums include our participation in GSE Credit Risk Transfer programs, of which the impact on the net premium yield was 0.3 bps in the second quarter of 2026.

(4)

The credit score at the time of origination for a loan with multiple borrowers is the lowest of the borrowers' "decision credit scores." A borrower's "decision credit score" is determined as follows: if there are three credit scores available, the middle credit score is used; if two credit scores are available, the lower of the two is used; if only one credit score is available, it is used.

MGIC INVESTMENT CORPORATION AND SUBSIDIARIES

ADDITIONAL INFORMATION - DELINQUENCY STATISTICS

2026

2025

Q2

Q1

Q4

Q3

Q2

Primary IIF - Delinquent Roll Forward - # of

Loans

Beginning Delinquent Inventory

27,006

27,072

25,747

24,444

25,438

New Notices

12,433

13,791

14,489

13,582

11,970

Cures

(12,814)

(13,393)

(12,632)

(11,814)

(12,588)

Paid claims

(455)

(457)

(359)

(359)

(341)

Rescissions and denials

(18)

(7)

(13)

(18)

(35)

Other items removed from inventory (1)

—

—

(160)

(88)

—

Ending Delinquent Inventory

26,152

27,006

27,072

25,747

24,444

Primary IIF Delinquency Rate (count based)

2.37 %

2.44 %

2.43 %

2.32 %

2.21 %

Primary claim received inventory included in ending delinquent inventory

355

383

398

333

295

Composition of Cures

Reported delinquent and cured

intraquarter

3,031

3,973

3,917

3,606

3,268

Number of payments delinquent prior to

cure

3 payments or less

6,391

6,262

5,734

5,141

5,708

4-11 payments

2,834

2,702

2,466

2,500

2,887

12 payments or more

558

456

515

567

725

Total Cures in Quarter

12,814

13,393

12,632

11,814

12,588

Composition of Paids

Number of payments delinquent at time

of claim payment

3 payments or less

—

1

—

1

—

4-11 payments

48

57

32

32

32

12 payments or more

407

399

327

326

309

Total Paids in Quarter

455

457

359

359

341

Aging of Primary Delinquent Inventory

Consecutive months delinquent

      3 months or less

9,268

35 %

9,655

36 %

10,389

38 %

9,817

38 %

8,552

35 %

      4-11 months

9,682

37 %

10,289

38 %

9,559

35 %

8,858

34 %

8,868

36 %

      12 months or more

7,202

28 %

7,062

26 %

7,124

27 %

7,072

28 %

7,024

29 %

Number of payments delinquent

      3 payments or less

12,874

49 %

13,376

49 %

14,121

52 %

13,406

52 %

12,260

50 %

      4-11 payments

8,905

34 %

9,364

35 %

8,747

32 %

8,122

32 %

7,963

33 %

      12 payments or more

4,373

17 %

4,266

16 %

4,204

16 %

4,219

16 %

4,221

17 %

(1)  Items removed from inventory are associated with commutations of coverage on non-performing policies.

MGIC INVESTMENT CORPORATION AND SUBSIDIARIES

ADDITIONAL INFORMATION - RESERVES and CLAIMS PAID

2026

2025

Year-to-date

Q2

Q1

Q4

Q3

Q2

2026

2025

Reserves (millions)

Primary Direct Loss Reserves

$      490

$       497

$       472

$       450

$       450

Other Gross Loss Reserves

2

2

3

2

2

Total Gross Loss Reserves

$      492

$       499

$       475

$       452

$       452

Primary Average Direct Reserve

Per Delinquency

$   18,732

$    18,398

$    17,449

$    17,462

$    18,395

Net Paid Claims (millions) (1)

$        21

$        17

$        16

$        14

$        12

$        38

$        24

Total primary (excluding settlements)

24

20

16

14

13

44

25

Rescission and NPL settlements

—

—

3

1

—

—

—

Reinsurance

(5)

(4)

(3)

(2)

(2)

(9)

(4)

LAE and other

2

1

1

1

1

3

3

Reinsurance Terminations (1)

—

—

(1)

—

—

—

—

Primary Average Claim Payment

(thousands) (2)

$      54.7

$      42.7

$      46.1

$      39.7

$      36.5

$      48.6

$      37.6

  (1)  Net paid claims, as presented, does not include amounts received in conjunction with terminations or commutations of reinsurance agreements.

  (2)  Excludes amounts paid in settlement disputes for claims paying practices and/or commutations of policies.

MGIC INVESTMENT CORPORATION AND SUBSIDIARIES

ADDITIONAL INFORMATION - REINSURANCE AND MI RATIOS

2026

2025

Year-to-date

Q2

Q1

Q4

Q3

Q2

2026

2025

Quota Share Reinsurance

% NIW subject to reinsurance

87.6 %

86.4 %

86.2 %

88.2 %

87.7 %

87.1 %

87.4 %

Ceded premiums written and earned (millions)

$  35.6

$  37.8

$  38.9

$  32.0

$  28.1

$  73.4

$  58.0

Ceded losses incurred (millions)

$   8.4

$  12.0

$  11.9

$   6.1

$   4.0

$  20.4

$  10.4

Ceding commissions (millions) (included in

underwriting and other expenses)

$  14.1

$  13.4

$  13.4

$  12.9

$  12.1

$  27.5

$  23.8

Profit commission (millions) (included in ceded

premiums)

$  35.1

$  29.1

$  28.3

$  32.6

$  32.3

$  64.2

$  61.0

Excess-of-Loss Reinsurance

Ceded premiums earned (millions)

$  16.3

$  17.8

$  14.8

$  16.2

$  15.4

$  34.1

$  30.1

GAAP loss ratio

4.6 %

14.1 %

13.2 %

4.5 %

(1.2 %)

9.3 %

1.4 %

GAAP underwriting expense ratio

19.8 %

20.5 %

19.9 %

21.1 %

21.9 %

20.2 %

22.2 %

Mortgage Guaranty Insurance Corporation - Risk to

Capital

9.9:1

9.6:1

10.0:1

9.7:1

10.0:1

Combined Insurance Companies - Risk to Capital

9.9:1

9.6:1

10.0:1

9.7:1

10.0:1

Safe Harbor Statement

Forward Looking Statements and Risk Factors:

This release contains forward looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These statements are based on current assumptions, expectations, and projections and are subject to risks and uncertainties that could cause actual results to differ materially. Forward-looking statements consist of statements which relate to matters other than historical fact, including matters that inherently refer to future events. Among others, statements that include words such as "believe," "anticipate," "will" or "expect," or words of similar import, are forward-looking statements. Our actual results may differ, possibly materially, from those expressed or implied in such forward-looking statements. Factors and uncertainties that could cause actual results to differ can be found in the "Risk Factors" and "Forward-Looking Statements" sections included in MGIC Investment Corporation's Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q. Such factors and uncertainties include, without limitation:

Our results are dependent on U.S. economic and housing market conditions; adverse conditions may cause a decrease in new insurance written and/or an increase in delinquencies, claim frequency, and claim severity. Additionally, if the volume of low down payment home mortgage originations declines, the amount of new insurance that we write could decline. The substantial majority of MGIC's new insurance written is for loans purchased by Fannie Mae and Freddie Mac ("the GSEs"); therefore, changes to their business practices or legislative, regulatory or administrative reforms could materially affect our business and financial results. Failure to comply with the GSEs' Private Mortgage Insurance Eligibility Requirements ("PMIERs") could limit our operations, or at the extreme, lead to suspension or termination of eligibility to insure loans purchased by the GSEs. Loss reserve estimates are subject to uncertainties; actual losses may differ materially from estimates.  Additionally, because reserves are established only upon delinquency, losses may disproportionately impact earnings in certain periods. We operate in a highly regulated environment at both the federal and state levels; regulatory changes or enforcement actions may adversely affect our operations and/or financial results. If we fail to meet the State Capital Requirements of Wisconsin, we could be prevented from writing new business in all jurisdictions; we could be prevented from writing new business in a particular jurisdiction if we fail to meet the state capital requirements of that jurisdiction. Pandemics, severe weather events, and climate related developments may negatively affect home prices and affordability, potentially leading to an increase in delinquencies, claim frequency, and claim severity. Actions by government authorities, including FHFA and the GSEs, to address climate related issues could similarly affect our results.  The availability, cost, and capital credit for reinsurance may change due to market conditions or GSE actions, potentially requiring us to retain more risk and maintain additional capital. Our financial results may be impacted if lenders and investors seek alternatives to private mortgage insurance. In addition, changes in GSE programs, growth in government market share, or changes to regulatory capital rules to limit capital relief for mortgage insurance could affect our business in similar ways. The premium rates we charge may prove inadequate due to unknown future economic conditions, modelling limitations or errors, or other unexpected events. The length of time our insurance policies remain in force ("persistency") affects our results. Among other things, persistency can be influenced by interest rates, borrower equity, refinancing activity, and mortgage insurance cancellation requirements. Instability in financial markets or counterparty failures, including by reinsurers or mortgage servicers, could increase our credit risk and losses. Ineffective risk management programs, inaccurate data or model errors could impair our ability to identify and respond to risks, and materially adversely affect our business, results of operations, and financial condition. Technology system failures, cybersecurity breaches, or data privacy incidents could materially disrupt operations and cause financial and reputational damage. Changes in our underwriting practices and mix of business have the potential to increase risk and negatively affect our financial results. Our business depends on hiring and retaining experienced management and key personnel; the failure to do so could disrupt operations and negatively impact our financial condition. The mortgage insurance market is highly competitive. Competition from private mortgage insurers, government programs, and potential new market entrants —combined with pricing pressure and shifting customer preferences and relationships—could lead to a reduction in our new insurance written. Adverse rating agency actions could affect our competitiveness, GSE eligibility, and access to capital. Litigation and regulatory proceedings could result in fines, settlements, operational restrictions, or reputational harm. Our investment portfolio is exposed to risks that could adversely impact our operations and financial results.  Future capital needs could require issuance of debt or equity, potentially diluting shareholders. Our stock price may fluctuate due to economic, industry, regulatory, or company specific developments. Regulatory limits on dividends from our insurance subsidiaries have the potential to constrain holding company liquidity and our ability to pay shareholder dividends or repurchase stock in the future. We are not undertaking any obligation to update any forward-looking statements or other statements we may make even though these statements may be affected by events or circumstances occurring after the forward looking statements or other statements were made. No investor should rely on the fact that such statements are current at any time other than the time at which this press release was delivered for dissemination to the public.

While we communicate with security analysts from time to time, it is against our policy to disclose to them any material non-public information or other confidential information. Accordingly, investors should not assume that we agree with any statement or report issued by any analyst irrespective of the content of the statement or report, and such reports are not our responsibility.

SOURCE MGIC Investment Corporation

Posted by Defense World Staff on Jul 27th, 2026

Caxton Associates LLP purchased a new stake in shares of MGIC Investment Corporation (NYSE:MTG – Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 28,214 shares of the insurance provider’s stock, valued at approximately $741,000.

Other large investors have also recently modified their holdings of the company. Sei Investments Co. grew its holdings in shares of MGIC Investment by 65.1% during the first quarter. Sei Investments Co. now owns 519,236 shares of the insurance provider’s stock valued at $13,631,000 after buying an additional 204,745 shares during the last quarter. Lido Advisors LLC increased its position in shares of MGIC Investment by 2.4% during the first quarter. Lido Advisors LLC now owns 24,373 shares of the insurance provider’s stock valued at $640,000 after acquiring an additional 574 shares in the last quarter. State of Wyoming raised its holdings in MGIC Investment by 103.6% in the 1st quarter. State of Wyoming now owns 9,712 shares of the insurance provider’s stock worth $255,000 after acquiring an additional 4,941 shares during the last quarter. Militia Capital Management LLC purchased a new position in MGIC Investment in the 1st quarter worth approximately $262,000. Finally, NewEdge Wealth LLC lifted its position in MGIC Investment by 12.3% in the 1st quarter. NewEdge Wealth LLC now owns 2,452,355 shares of the insurance provider’s stock valued at $64,374,000 after acquiring an additional 268,753 shares in the last quarter. Hedge funds and other institutional investors own 95.58% of the company’s stock.

Insider Buying and Selling at MGIC Investment In other MGIC Investment news, COO Salvatore A. Miosi sold 30,000 shares of the firm’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $25.38, for a total transaction of $761,400.00. Following the sale, the chief operating officer directly owned 560,951 shares of the company’s stock, valued at $14,236,936.38. This trade represents a 5.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Paula C. Maggio sold 20,937 shares of MGIC Investment stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $25.55, for a total transaction of $534,940.35. Following the sale, the executive vice president owned 169,620 shares in the company, valued at approximately $4,333,791. The trade was a 10.99% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.34% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth A number of research analysts have recently issued reports on the company. Barclays lowered their price target on MGIC Investment from $29.00 to $28.00 and set an “equal weight” rating on the stock in a report on Friday, May 1st. Keefe, Bruyette & Woods lifted their price objective on MGIC Investment from $28.00 to $29.00 and gave the stock a “market perform” rating in a report on Friday, April 10th. Royal Bank Of Canada started coverage on MGIC Investment in a research report on Friday, May 22nd. They issued a “sector perform” rating and a $28.00 target price for the company. Finally, Weiss Ratings upgraded shares of MGIC Investment from a “buy (b)” rating to a “buy (b+)” rating in a research note on Tuesday, July 7th. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $28.25.

View Our Latest Analysis on MTG

MGIC Investment Trading Down 0.0% MGIC Investment stock opened at $29.65 on Monday. MGIC Investment Corporation has a 52-week low of $24.69 and a 52-week high of $29.97. The company has a market cap of $6.27 billion, a P/E ratio of 9.41, a P/E/G ratio of 2.04 and a beta of 0.67. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.13. The business has a 50-day simple moving average of $27.01 and a two-hundred day simple moving average of $26.90.

MGIC Investment (NYSE:MTG – Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.03. The firm had revenue of $297.08 million for the quarter, compared to analysts’ expectations of $303.12 million. MGIC Investment had a net margin of 59.63% and a return on equity of 14.01%. The business’s quarterly revenue was down 3.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.75 EPS. Analysts predict that MGIC Investment Corporation will post 3.05 EPS for the current year.

MGIC Investment declared that its board has approved a stock buyback plan on Thursday, April 23rd that allows the company to buyback $750.00 million in shares. This buyback authorization allows the insurance provider to reacquire up to 12.4% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.

MGIC Investment Increases Dividend The business also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Wednesday, August 5th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Wednesday, August 5th. This represents a $0.68 dividend on an annualized basis and a yield of 2.3%. This is an increase from MGIC Investment’s previous quarterly dividend of $0.15. MGIC Investment’s payout ratio is 19.05%.

MGIC Investment Company Profile (Free Report)

MGIC Investment Corporation (NYSE: MTG) is a leading provider of private mortgage insurance in the United States. Established in 1957 as the nation’s first private mortgage insurer, MGIC helps lenders manage credit risk and facilitates homeownership by protecting mortgage loans against default. Headquartered in Milwaukee, Wisconsin, the company operates through its principal subsidiary, Mortgage Guaranty Insurance Corporation, and maintains relationships with a broad network of originators and servicers nationwide.

The company’s primary business activity involves issuing mortgage insurance policies that enable borrowers to purchase homes with down payments below traditional lending thresholds.

Read More Five stocks we like better than MGIC Investment RTX and Lockheed Earnings: Can Strong Guidance Reset the Defense Trade? These 4 Earnings Reports Expose the Market’s Growing Economic Divide Broadcom May Be the Biggest Winner From Alphabet’s Earnings Volatility Is Back and These 3 Market Tollbooths Are Best Positioned to Profit Want to see what other hedge funds are holding MTG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MGIC Investment Corporation (NYSE:MTG – Free Report).

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, /PRNewswire/ -- MGIC Investment Corporation (NYSE: MTG) has announced plans to release its second quarter 2026 financial results after the market closes on Wednesday, July 29, 2026. A conference call/webcast has been scheduled for 10:00 a.m. Eastern Time on Thursday, July 30, 2026, to discuss the Company's results for the quarter ended June 30, 2026.

Individuals interested in joining by telephone should register for the call "here" to receive the dial-in number and unique PIN to access the call. It is recommended that you join the call at least 10 minutes before the conference call begins. The call is also being webcast and can be accessed via the Company's Investor website found at http://mtg.mgic.com under Newsroom. A replay of the webcast will be available on the Company's website through August 31, 2026.

About MGIC
Mortgage Guaranty Insurance Corporation (MGIC) (mgic.com), the principal subsidiary of MGIC Investment Corporation, provides mortgage insurance solutions that support responsible credit risk management for mortgage lenders and investors and enable borrowers to qualify for mortgages with lower down payments. As the founder and longstanding leader of today's private mortgage insurance industry, MGIC continues to guide the industry's evolution while serving as a trusted partner to lenders across the country.

From time-to-time MGIC Investment Corporation releases important information via postings on its corporate website, and via postings on MGIC's website, and it intends to continue to do so in the future. Such postings include corrections of previous disclosures and may be made without any other disclosure. Investors and other interested parties are encouraged to enroll to receive automatic email alerts and Really Simple Syndication (RSS) feeds regarding new postings. Enrollment information for MGIC Investment Corporation alerts can be found at https://mtg.mgic.com/shareholder-services/email-alerts. For information about our underwriting and rates, see https://www.mgic.com/underwriting.

SOURCE MGIC Investment Corporation

Swiss Re (OTCMKTS:SSREY - Get Free Report) and MGIC Investment (NYSE: MTG - Get Free Report) are both finance companies, but which is the superior investment? We will compare the two companies based on the strength of their profitability, valuation, analyst recommendations, dividends, institutional ownership, risk and earnings. Earnings and Valuation This table compares Swiss Re

Posted by Defense World Staff on Apr 1st, 2026

Burns Matteson Capital Management LLC purchased a new stake in shares of MGIC Investment Corporation (NYSE:MTG – Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 20,064 shares of the insurance provider’s stock, valued at approximately $586,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Compound Planning Inc. lifted its position in shares of MGIC Investment by 5.3% during the 3rd quarter. Compound Planning Inc. now owns 7,788 shares of the insurance provider’s stock worth $221,000 after purchasing an additional 389 shares during the last quarter. SBI Securities Co. Ltd. grew its holdings in MGIC Investment by 61.1% in the 3rd quarter. SBI Securities Co. Ltd. now owns 1,041 shares of the insurance provider’s stock valued at $30,000 after buying an additional 395 shares during the last quarter. Waddell & Associates LLC increased its position in MGIC Investment by 5.3% in the 3rd quarter. Waddell & Associates LLC now owns 8,090 shares of the insurance provider’s stock worth $230,000 after buying an additional 410 shares during the period. Clearstead Advisors LLC lifted its holdings in shares of MGIC Investment by 24.7% during the third quarter. Clearstead Advisors LLC now owns 2,209 shares of the insurance provider’s stock worth $63,000 after buying an additional 438 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of MGIC Investment by 58.0% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,365 shares of the insurance provider’s stock worth $38,000 after buying an additional 501 shares during the last quarter. 95.58% of the stock is owned by institutional investors and hedge funds.

MGIC Investment Stock Performance MTG opened at $26.24 on Wednesday. The stock’s 50 day simple moving average is $26.48 and its 200-day simple moving average is $27.52. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.13. The stock has a market cap of $5.64 billion, a PE ratio of 8.36, a P/E/G ratio of 2.07 and a beta of 0.83. MGIC Investment Corporation has a 1 year low of $21.94 and a 1 year high of $29.97.

MGIC Investment (NYSE:MTG – Get Free Report) last issued its earnings results on Monday, February 2nd. The insurance provider reported $0.75 EPS for the quarter, topping the consensus estimate of $0.73 by $0.02. MGIC Investment had a return on equity of 14.33% and a net margin of 60.84%.The business’s revenue for the quarter was down .9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.72 earnings per share. Sell-side analysts forecast that MGIC Investment Corporation will post 2.71 EPS for the current year.

MGIC Investment Announces Dividend The firm also recently announced a quarterly dividend, which was paid on Friday, March 6th. Stockholders of record on Tuesday, February 17th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Tuesday, February 17th. MGIC Investment’s payout ratio is 19.11%.

Analyst Upgrades and Downgrades Several brokerages have recently issued reports on MTG. Keefe, Bruyette & Woods raised their price objective on shares of MGIC Investment from $27.00 to $28.00 and gave the stock a “market perform” rating in a research note on Thursday, December 18th. Barclays cut their target price on shares of MGIC Investment from $30.00 to $28.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 4th. Weiss Ratings downgraded shares of MGIC Investment from a “buy (a-)” rating to a “buy (b+)” rating in a report on Thursday, February 5th. Finally, UBS Group decreased their price target on shares of MGIC Investment from $29.50 to $28.00 and set a “neutral” rating on the stock in a research report on Thursday, March 12th. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, MGIC Investment presently has a consensus rating of “Hold” and a consensus price target of $28.00.

Read Our Latest Report on MTG

Insider Activity In related news, COO Salvatore A. Miosi sold 30,000 shares of the company’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $27.27, for a total value of $818,100.00. Following the sale, the chief operating officer owned 454,245 shares of the company’s stock, valued at $12,387,261.15. The trade was a 6.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Timothy J. Mattke sold 139,203 shares of the stock in a transaction dated Tuesday, January 13th. The stock was sold at an average price of $26.51, for a total transaction of $3,690,271.53. Following the completion of the transaction, the chief executive officer directly owned 822,588 shares of the company’s stock, valued at $21,806,807.88. This trade represents a 14.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 189,203 shares of company stock worth $5,058,572. Corporate insiders own 1.34% of the company’s stock.

MGIC Investment Profile (Free Report)

MGIC Investment Corporation (NYSE: MTG) is a leading provider of private mortgage insurance in the United States. Established in 1957 as the nation’s first private mortgage insurer, MGIC helps lenders manage credit risk and facilitates homeownership by protecting mortgage loans against default. Headquartered in Milwaukee, Wisconsin, the company operates through its principal subsidiary, Mortgage Guaranty Insurance Corporation, and maintains relationships with a broad network of originators and servicers nationwide.

The company’s primary business activity involves issuing mortgage insurance policies that enable borrowers to purchase homes with down payments below traditional lending thresholds.

See Also Five stocks we like better than MGIC Investment Want to see what other hedge funds are holding MTG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MGIC Investment Corporation (NYSE:MTG – Free Report).

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Posted by Defense World Staff on Apr 5th, 2026

MGIC Investment Corporation (NYSE:MTG – Get Free Report) CEO Timothy Mattke sold 139,202 shares of MGIC Investment stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $26.49, for a total transaction of $3,687,460.98. Following the transaction, the chief executive officer owned 1,118,005 shares in the company, valued at approximately $29,615,952.45. This trade represents a 11.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

MGIC Investment Trading Down 0.1% Shares of MGIC Investment stock opened at $26.50 on Friday. MGIC Investment Corporation has a fifty-two week low of $21.94 and a fifty-two week high of $29.97. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.52 and a current ratio of 1.52. The company has a market capitalization of $5.70 billion, a P/E ratio of 8.44, a P/E/G ratio of 2.11 and a beta of 0.79. The company has a fifty day moving average of $26.47 and a 200 day moving average of $27.49.

MGIC Investment (NYSE:MTG – Get Free Report) last posted its quarterly earnings results on Monday, February 2nd. The insurance provider reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.02. MGIC Investment had a return on equity of 14.33% and a net margin of 60.84%.The company’s revenue was down .9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.72 EPS. On average, sell-side analysts anticipate that MGIC Investment Corporation will post 2.71 earnings per share for the current fiscal year.

MGIC Investment Dividend Announcement The firm also recently declared a quarterly dividend, which was paid on Friday, March 6th. Investors of record on Tuesday, February 17th were issued a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, February 17th. This represents a $0.60 dividend on an annualized basis and a yield of 2.3%. MGIC Investment’s payout ratio is currently 19.11%.

Hedge Funds Weigh In On MGIC Investment Institutional investors have recently added to or reduced their stakes in the company. Alpine Bank Wealth Management bought a new position in shares of MGIC Investment during the 3rd quarter valued at approximately $28,000. Newbridge Financial Services Group Inc. bought a new stake in MGIC Investment in the third quarter worth $28,000. SBI Securities Co. Ltd. raised its stake in MGIC Investment by 61.1% during the third quarter. SBI Securities Co. Ltd. now owns 1,041 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 395 shares in the last quarter. V Square Quantitative Management LLC purchased a new stake in MGIC Investment during the fourth quarter valued at $36,000. Finally, Root Financial Partners LLC bought a new position in MGIC Investment during the third quarter valued at $38,000. Hedge funds and other institutional investors own 95.58% of the company’s stock.

Analyst Ratings Changes A number of equities research analysts have issued reports on the stock. UBS Group cut their price objective on shares of MGIC Investment from $29.50 to $28.00 and set a “neutral” rating for the company in a report on Thursday, March 12th. Barclays lowered their target price on shares of MGIC Investment from $30.00 to $28.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 4th. Weiss Ratings cut shares of MGIC Investment from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Thursday, February 5th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of MGIC Investment from $27.00 to $28.00 and gave the company a “market perform” rating in a report on Thursday, December 18th. One analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $28.00.

Check Out Our Latest Stock Report on MGIC Investment

MGIC Investment Company Profile (Get Free Report)

MGIC Investment Corporation (NYSE: MTG) is a leading provider of private mortgage insurance in the United States. Established in 1957 as the nation’s first private mortgage insurer, MGIC helps lenders manage credit risk and facilitates homeownership by protecting mortgage loans against default. Headquartered in Milwaukee, Wisconsin, the company operates through its principal subsidiary, Mortgage Guaranty Insurance Corporation, and maintains relationships with a broad network of originators and servicers nationwide.

The company’s primary business activity involves issuing mortgage insurance policies that enable borrowers to purchase homes with down payments below traditional lending thresholds.

Featured Stories Five stocks we like better than MGIC Investment

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Posted by Defense World Staff on Apr 12th, 2026

International General Insurance (NASDAQ:IGIC – Get Free Report) and MGIC Investment (NYSE:MTG – Get Free Report) are both finance companies, but which is the better investment? We will compare the two companies based on the strength of their institutional ownership, analyst recommendations, valuation, profitability, risk, dividends and earnings.

Earnings and Valuation This table compares International General Insurance and MGIC Investment”s revenue, earnings per share and valuation.

Gross Revenue Price/Sales Ratio Net Income Earnings Per Share Price/Earnings Ratio International General Insurance $516.90 million 2.23 $127.20 million $2.87 9.00 MGIC Investment $1.21 billion 4.82 $738.35 million $3.14 8.67 MGIC Investment has higher revenue and earnings than International General Insurance. MGIC Investment is trading at a lower price-to-earnings ratio than International General Insurance, indicating that it is currently the more affordable of the two stocks.

Profitability This table compares International General Insurance and MGIC Investment’s net margins, return on equity and return on assets.

Net Margins Return on Equity Return on Assets International General Insurance 24.61% 16.98% 5.45% MGIC Investment 60.84% 14.33% 11.21% Volatility & Risk International General Insurance has a beta of 0.15, meaning that its stock price is 85% less volatile than the S&P 500. Comparatively, MGIC Investment has a beta of 0.79, meaning that its stock price is 21% less volatile than the S&P 500.

Analyst Ratings This is a summary of recent recommendations for International General Insurance and MGIC Investment, as provided by MarketBeat.

Sell Ratings Hold Ratings Buy Ratings Strong Buy Ratings Rating Score International General Insurance 0 0 2 0 3.00 MGIC Investment 0 4 1 0 2.20 International General Insurance currently has a consensus target price of $28.00, suggesting a potential upside of 8.40%. MGIC Investment has a consensus target price of $28.50, suggesting a potential upside of 4.72%. Given International General Insurance’s stronger consensus rating and higher probable upside, research analysts plainly believe International General Insurance is more favorable than MGIC Investment.

Dividends International General Insurance pays an annual dividend of $0.20 per share and has a dividend yield of 0.8%. MGIC Investment pays an annual dividend of $0.60 per share and has a dividend yield of 2.2%. International General Insurance pays out 7.0% of its earnings in the form of a dividend. MGIC Investment pays out 19.1% of its earnings in the form of a dividend. Both companies have healthy payout ratios and should be able to cover their dividend payments with earnings for the next several years. International General Insurance has raised its dividend for 2 consecutive years and MGIC Investment has raised its dividend for 6 consecutive years. MGIC Investment is clearly the better dividend stock, given its higher yield and longer track record of dividend growth.

Institutional and Insider Ownership 54.2% of International General Insurance shares are held by institutional investors. Comparatively, 95.6% of MGIC Investment shares are held by institutional investors. 20.1% of International General Insurance shares are held by company insiders. Comparatively, 1.3% of MGIC Investment shares are held by company insiders. Strong institutional ownership is an indication that hedge funds, endowments and large money managers believe a company is poised for long-term growth.

Summary MGIC Investment beats International General Insurance on 10 of the 17 factors compared between the two stocks.

About International General Insurance (Get Free Report)

International General Insurance Holdings Ltd. engages in the provision of specialty insurance and reinsurance solutions worldwide. The company operates through three segments: Specialty Long-tail, Specialty Short-tail, and Reinsurance. It is involved in underwriting a portfolio of specialty risks, including energy, property, construction and engineering, ports and terminals, general aviation, political violence, professional lines, financial institutions, motor, marine liability, contingency, marine, treaty, and casualty insurance and reinsurance. The company was founded in 2001 and is based in Amman, Jordan.

About MGIC Investment (Get Free Report)

MGIC Investment Corporation, through its subsidiaries, provides private mortgage insurance, other mortgage credit risk management solutions, and ancillary services to lenders and government sponsored entities in the United States, the District of Columbia, Puerto Rico, and Guam. The company offers primary mortgage insurance that provides mortgage default protection on individual loans, as well as covers unpaid loan principal, delinquent interest, and various expenses associated with the default and subsequent foreclosure. It also provides pool insurance for secondary market mortgage transactions; and contract underwriting services, as well as reinsurance. The company serves originators of residential mortgage loans, including savings institutions, commercial banks, mortgage brokers, credit unions, mortgage bankers, and other lenders. MGIC Investment Corporation was founded in 1957 and is headquartered in Milwaukee, Wisconsin.

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, /PRNewswire/ -- MGIC Investment Corporation (NYSE: MTG) announced its board of directors has approved an additional share repurchase program with authorization to purchase up to $750 million of its common stock.

The company is authorized to repurchase shares of its common stock from time to time through privately negotiated, open market or other transactions (including through the use of trading plans intended to qualify under Rule 10b5-1 under the Securities Exchange Act of 1934, as amended) at any time prior to December 31, 2028. The share repurchase program may be suspended or discontinued at any time and does not require the company to acquire any amount of common stock. 

The company also announced that its board of directors declared a quarterly cash dividend of $0.15 per share payable on May 21, 2026, to shareholders of record as of May 6, 2026. 

As previously announced, the company will hold a conference call/webcast on Thursday, April 30, 2026, to discuss the results for the quarter ended March 31, 2026.

About MGIC

Mortgage Guaranty Insurance Corporation (MGIC) (mgic.com), the principal subsidiary of MGIC Investment Corporation, provides mortgage insurance solutions that support responsible credit risk management for mortgage lenders and investors and enable borrowers to qualify for mortgages with lower down payments. As the founder and longstanding leader of today's private mortgage insurance industry, MGIC continues to guide the industry's evolution while serving as a trusted partner to lenders across the country.

From time-to-time MGIC Investment Corporation releases important information via postings on its corporate website, and via postings on MGIC's website, and it intends to continue to do so in the future. Such postings include corrections of previous disclosures and may be made without any other disclosure. Investors and other interested parties are encouraged to enroll to receive automatic email alerts and Really Simple Syndication (RSS) feeds regarding new postings. Enrollment information for MGIC Investment Corporation alerts can be found at https://mtg.mgic.com/shareholder-services/email-alerts. For information about our underwriting and rates, see https://www.mgic.com/underwriting.

SOURCE MGIC Investment Corporation

Posted by Defense World Staff on Apr 27th, 2026

MGIC Investment (NYSE:MTG – Get Free Report) will likely be posting its Q1 2026 results after the market closes on Wednesday, April 29th. Analysts expect MGIC Investment to post earnings of $0.73 per share and revenue of $303.0740 million for the quarter. Individuals may visit the the company’s upcoming Q1 2026 earning results page for the latest details on the call scheduled for Thursday, April 30, 2026 at 10:00 AM ET.

MGIC Investment (NYSE:MTG – Get Free Report) last issued its quarterly earnings results on Monday, February 2nd. The insurance provider reported $0.75 EPS for the quarter, topping the consensus estimate of $0.73 by $0.02. MGIC Investment had a net margin of 60.84% and a return on equity of 14.33%. During the same quarter in the previous year, the business earned $0.72 EPS. The firm’s quarterly revenue was down .9% on a year-over-year basis. On average, analysts expect MGIC Investment to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

MGIC Investment Stock Performance Shares of MTG stock opened at $28.66 on Monday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.52 and a current ratio of 1.52. MGIC Investment has a one year low of $24.14 and a one year high of $29.97. The company’s 50-day simple moving average is $26.71 and its 200-day simple moving average is $27.45. The stock has a market capitalization of $6.16 billion, a price-to-earnings ratio of 9.13, a PEG ratio of 2.28 and a beta of 0.79.

MGIC Investment declared that its Board of Directors has approved a stock repurchase program on Thursday, April 23rd that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the insurance provider to reacquire up to 12.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

MGIC Investment Announces Dividend The business also recently declared a quarterly dividend, which will be paid on Thursday, May 21st. Stockholders of record on Wednesday, May 6th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, May 6th. This represents a $0.60 annualized dividend and a dividend yield of 2.1%. MGIC Investment’s dividend payout ratio (DPR) is presently 19.11%.

Wall Street Analysts Forecast Growth A number of brokerages have issued reports on MTG. Barclays raised their target price on shares of MGIC Investment from $28.00 to $29.00 and gave the stock an “equal weight” rating in a report on Monday, April 6th. UBS Group decreased their target price on MGIC Investment from $29.50 to $28.00 and set a “neutral” rating for the company in a research note on Thursday, March 12th. Weiss Ratings downgraded MGIC Investment from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Thursday, February 5th. Finally, Keefe, Bruyette & Woods lifted their target price on MGIC Investment from $28.00 to $29.00 and gave the company a “market perform” rating in a research note on Friday, April 10th. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, MGIC Investment has a consensus rating of “Hold” and an average target price of $28.50.

Check Out Our Latest Research Report on MGIC Investment

Insider Buying and Selling at MGIC Investment In other MGIC Investment news, COO Salvatore A. Miosi sold 30,000 shares of MGIC Investment stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $27.27, for a total value of $818,100.00. Following the completion of the transaction, the chief operating officer directly owned 454,245 shares in the company, valued at $12,387,261.15. The trade was a 6.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Paula C. Maggio sold 20,000 shares of MGIC Investment stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $27.51, for a total value of $550,200.00. Following the completion of the transaction, the executive vice president owned 114,689 shares of the company’s stock, valued at approximately $3,155,094.39. The trade was a 14.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 200,133 shares of company stock worth $5,342,700 over the last ninety days. Company insiders own 1.34% of the company’s stock.

Institutional Investors Weigh In On MGIC Investment Hedge funds have recently made changes to their positions in the business. Newbridge Financial Services Group Inc. bought a new stake in shares of MGIC Investment during the third quarter valued at approximately $28,000. Geneos Wealth Management Inc. raised its holdings in shares of MGIC Investment by 88.0% during the first quarter. Geneos Wealth Management Inc. now owns 1,745 shares of the insurance provider’s stock valued at $43,000 after buying an additional 817 shares during the last quarter. Kestra Advisory Services LLC bought a new stake in shares of MGIC Investment during the fourth quarter valued at approximately $79,000. Danske Bank A S bought a new stake in shares of MGIC Investment during the third quarter valued at approximately $82,000. Finally, iSAM Funds UK Ltd bought a new stake in shares of MGIC Investment during the third quarter valued at approximately $122,000. Institutional investors own 95.58% of the company’s stock.

About MGIC Investment (Get Free Report)

MGIC Investment Corporation (NYSE: MTG) is a leading provider of private mortgage insurance in the United States. Established in 1957 as the nation’s first private mortgage insurer, MGIC helps lenders manage credit risk and facilitates homeownership by protecting mortgage loans against default. Headquartered in Milwaukee, Wisconsin, the company operates through its principal subsidiary, Mortgage Guaranty Insurance Corporation, and maintains relationships with a broad network of originators and servicers nationwide.

The company’s primary business activity involves issuing mortgage insurance policies that enable borrowers to purchase homes with down payments below traditional lending thresholds.

Further Reading Five stocks we like better than MGIC Investment

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MGIC Investment (MTG - Free Report) came out with quarterly earnings of $0.76 per share, beating the Zacks Consensus Estimate of $0.73 per share. This compares to earnings of $0.75 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +3.64%. A quarter ago, it was expected that this mortgage insurance company would post earnings of $0.73 per share when it actually produced earnings of $0.75, delivering a surprise of +2.74%.

Over the last four quarters, the company has surpassed consensus EPS estimates four times.

MGIC, which belongs to the Zacks Insurance - Multi line industry, posted revenues of $297.25 million for the quarter ended March 2026, missing the Zacks Consensus Estimate by 1.41%. This compares to year-ago revenues of $305.49 million. The company has not been able to beat consensus revenue estimates over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

MGIC shares have lost about 0.8% since the beginning of the year versus the S&P 500's gain of 4.3%.

What's Next for MGIC?While MGIC has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for MGIC was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.76 on $304.88 million in revenues for the coming quarter and $3.08 on $1.22 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Insurance - Multi line is currently in the bottom 39% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Another stock from the same industry, Radian (RDN - Free Report) , has yet to report results for the quarter ended March 2026. The results are expected to be released on May 6.

This mortgage insurer is expected to post quarterly earnings of $1.22 per share in its upcoming report, which represents a year-over-year change of +23.2%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

Radian's revenues are expected to be $302.3 million, down 1.3% from the year-ago quarter.

MGIC Investment Corporation (MTG) Q1 2026 Earnings Call Transcript

Key Takeaways MTG wrote $14B of new insurance in Q1, up 41% on higher refinance and purchase activity.MGIC grew insurance in force 3% to $302.7B while claim filings continued to decline.MTG had $232.6M left for share repurchases despite housing and unemployment-related risks. Shares of MGIC Investment Corporation (MTG - Free Report) have lost 3.8% in the past year, underperforming the industry’s growth of 1.2%.

Weak housing conditions, slowing insurance growth, and rising unemployment are pressuring the insurer. However, strong capital levels, disciplined underwriting, and lower default rates could support recovery if housing activity and interest rates stabilize.

Meanwhile, some of its other peers include Enact Holdings, Inc. (ACT - Free Report) , Principal Financial Group, Inc.(PFG - Free Report) and Radian Group Inc. (RDN - Free Report) , which have gained 18.2%, 31.5% and 1.5%, respectively, in the past year. The S&P 500 Index has also gained 31.5% during this time.

1-Year Price Performance: MTG, ACT, RDN, PFG, Industry & S&P 500

Image Source: Zacks Investment Research

The insurer has a market capitalization of $36.40 billion. The average volume of shares traded in the last three months was 1.9 million.

MTG Shares Are AffordableMGIC Investment shares are trading at a price-to-book value of 1.07X, lower than the industry average of 2.56X, the Finance sector’s 4.37X, and the Zacks S&P 500 Composite’s 8.18X. Its pricing, at a discount to the industry average, gives a better entry point to investors. The stock has a Value Score of B. This style score helps find the most attractive value stocks

Image Source: Zacks Investment Research

MTG’s Favorable Return on CapitalThe return on invested capital (ROIC) has been increasing over the last few quarters, as the company has raised its capital investment during the same period. This reflects MTG’s efficiency in utilizing funds to generate income. ROIC was 10.4% in the trailing 12 months, better than the industry average of 2.2%.

MTG’s Growth Projection EncouragesThe consensus estimate for 2026 revenues is pegged at $1.22 billion, implying a year-over-year improvement of 0.4%. The Zacks Consensus Estimate for MGIC Investment's 2026 earnings per share(EPS)  indicates a year-over-year decrease of 2.5%.

The consensus estimate for 2027 EPS and revenues indicates an increase of 7.4% and 3.1%, respectively, from the corresponding 2025 estimates.

Earnings have increased 13.1% in the past five years, better than the industry average of 10.7%. The expected long-term earnings growth is pegged at 4.8%.

Factors Driving MTGThe private mortgage insurance (PMI) industry is performing well, supported by a resilient housing market despite elevated interest rates. MGIC investment wrote $14 billion of new insurance in the first quarter of 2026, an increase of 41% from last year. The increase was driven by higher refinance activity as well as a modestly larger purchase market. The company continues to grow its insurance in force, which stood at $302.7 billion at the end of the first quarter, up 3% from a year ago quarter.

New business and solid annual persistency should drive the insurance-in-force portfolio.  A higher level of new and existing home sales, an increased percentage of homes purchased for cash, and an improved level of refinance activity should help MGIC Investment grow.

MTG has been witnessing a declining pattern of claim filings. Lower losses and claims should strengthen the balance sheet and improve this mortgage insurer’s financial profile.

The company has been benefiting from improving housing market fundamentals, such as household formations and home sales and the current capital status. As a result, the company is well- positioned to offer credit enhancement and low-down payment solutions to lenders, borrowers and GSEs. MTG  remains optimistic about the opportunities in the housing market, which will enable the company to serve more people efficiently in the future.

The largest mortgage insurer in the United States is improving its capital position through capital contributions, reinsurance transactions and cash position. As of March 31, 2026, the company had $235 million of cash and cash equivalents, up 13.6% year over year Both leverage and times interest earned ratios have been improving.

A solid capital position supports MTG’s wealth distribution. As of March 31, 2026, MTG had authorization remaining to repurchase $232.6 million of common stock under the existing share repurchase program through Dec. 31, 2027.  Its share repurchase activity reflects continued strong mortgage credit performance.

Risks for MTGMTG’s core business, private mortgage insurance, is highly dependent on the overall health of the housing market. Following the post-pandemic housing surge, the pace of growth in MTG’s insurance in force has slowed. As mortgage originations and refinancing activity continue to decline, the company’s IIF expansion, and in turn its premium earned, could come under pressure.

High levels of unemployment may result in a higher number of loan delinquencies and insurance claims, and prevent borrowers from paying their mortgages, which can also adversely affect home prices

Wrapping UpHigher premiums, outstanding credit quality, effective capital deployment and new business will continue to induce growth for MGIC Investment. However, weakening housing market conditions and rising unemployment could negatively impact home prices and profitability.

Its strong mortgage insurance growth, solid capital position, attractive valuations and favorable ROIC are noteworthy. It is, therefore, wise to retain this Zacks Rank #3 (Hold) stock at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.