Track market-moving stories before they get noisy

Resources Investor Relations Journalists Agencies Client Login Send a Release News Products Contact , /PRNewswire/ -- MGIC Investment Corporation (NYSE: MTG) announced that its Board of Directors declared a quarterly cash dividend of $0.17 per share, an increase of 13% from the last quarterly dividend paid of $0.15 per share. This quarter's dividend will be payable on August 20, 2026, to shareholders of record as of August 5, 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

Key Takeaways MTG generates recurring premium revenues from its mortgage insurance portfolio, supporting stable cash flow. Growth in insurance-in-force and purchase originations drives underwriting profitability. Investment income, prudent capital management, and reinsurance programs boost financial performance. MGIC Investment Corporation (MTG - Free Report) is one of the largest private mortgage insurance providers in the United States. Through its principal operating subsidiary, Mortgage Guaranty Insurance Corporation (“MGIC”), MTG provides private mortgage insurance on residential mortgage loans with high loan-to-value ratios, helping lenders and investors mitigate losses if borrowers default while expanding access to affordable homeownership.

Mortgage insurance is MGIC Investment's core business and primary source of revenues and earnings. The company generates recurring premium income from its large insurance-in-force (IIF) portfolio, with policies typically remaining in force until borrowers refinance, sell their homes or accumulate sufficient equity. This creates a stable, long-duration stream of premium revenues and predictable cash flow.

MGIC's mortgage insurance business benefits from growth in purchase mortgage originations, expanding insurance-in-force and sustained demand for private mortgage insurance as an alternative to government-backed mortgage programs. Strong underwriting discipline, high-quality new insurance written, favorable home price appreciation and healthy employment conditions generally contribute to low claim frequencies and strong underwriting profitability.

The mortgage insurer also earns investment income by investing premium collections before claims are paid, providing an additional source of earnings. Combined with prudent capital management, reinsurance programs and disciplined risk management help MGIC maintains a resilient balance sheet while optimizing capital efficiency.

Overall, mortgage insurance provides MGIC Investment with a scalable, capital-light business model that generates recurring premium revenues, consistent earnings and strong cash flow across housing cycles. Its focus on high-quality underwriting, effective risk management and capital discipline positions the company to deliver sustainable profitability and long-term shareholder value.

What About Its Peers?NMI Holdings, Inc. (NMIH - Free Report) is a pure-play private mortgage insurer whose core business is providing mortgage insurance on residential loans with high loan-to-value (LTV) ratios. NMIH generates recurring premium income by protecting lenders against losses if borrowers default, creating a stable and predictable revenue stream over the life of the insured mortgages. NMI's mortgage insurance business benefits from growth in purchase mortgage originations, expanding insurance-in-force, disciplined underwriting and strong credit performance, enabling the company to produce consistent underwriting profits and generate solid cash flow.

Radian Group Inc. (RDN - Free Report) is a leading provider of private mortgage insurance in the United States. The company insures low-down-payment residential mortgages, protecting lenders against credit losses from borrower defaults while helping borrowers achieve homeownership with smaller upfront payments. Its mortgage insurance business generates recurring premium revenues and is supported by disciplined underwriting, advanced risk analytics and capital-efficient risk management.

MTG’s Price PerformanceShares of MTG have gained 1.1% over the past year, underperforming the industry.

Image Source: Zacks Investment Research

MTG’s UndervaluationThe stock is undervalued compared with its industry. Its forward price-to-book value of 1.18X is lower than the industry average of 2.83X. It carries a Value Score of B.

Image Source: Zacks Investment Research

Estimate Movement for MTGThe Zacks Consensus Estimate for MTG’s second-quarter and third-quarter 2026 EPS has moved down 1.3% and 1.2%, respectively, over the past 30 days. The same for the full-year 2026 and 2027 EPS has moved down 0.3% and 0.6%, respectively, in the past 30 days.
The consensus estimate for MTG’s 2027 EPS and revenues indicates a year-over-year increase.

Image Source: Zacks Investment Research

Assenagon Asset Management S.A. bought a new stake in shares of MGIC Investment Corporation (NYSE:MTG – Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 135,914 shares of the insurance provider’s stock, valued at approximately $3,971,000. Assenagon Asset Management S.A. owned 0.06% of MGIC Investment as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Norges Bank bought a new position in shares of MGIC Investment during the second quarter valued at approximately $95,857,000. AQR Capital Management LLC raised its stake in MGIC Investment by 92.4% in the second quarter. AQR Capital Management LLC now owns 6,333,091 shares of the insurance provider’s stock worth $176,313,000 after buying an additional 3,041,446 shares in the last quarter. First Trust Advisors LP raised its stake in MGIC Investment by 48.1% in the second quarter. First Trust Advisors LP now owns 7,302,263 shares of the insurance provider’s stock worth $203,295,000 after buying an additional 2,370,403 shares in the last quarter. Assetmark Inc. lifted its holdings in MGIC Investment by 1,208.1% during the third quarter. Assetmark Inc. now owns 1,674,152 shares of the insurance provider’s stock worth $47,496,000 after buying an additional 1,546,173 shares during the period. Finally, Caisse de depot et placement du Quebec boosted its position in MGIC Investment by 20.4% during the 3rd quarter. Caisse de depot et placement du Quebec now owns 3,943,965 shares of the insurance provider’s stock valued at $111,890,000 after acquiring an additional 667,876 shares in the last quarter. Institutional investors own 95.58% of the company’s stock.

Wall Street Analysts Forecast Growth MTG has been the subject of several recent research reports. UBS Group reduced their price target on MGIC Investment from $29.50 to $28.00 and set a “neutral” rating for the company in a research report on Thursday, March 12th. Weiss Ratings downgraded shares of MGIC Investment from a “buy (a-)” rating to a “buy (b+)” rating in a report on Thursday, February 5th. Keefe, Bruyette & Woods raised 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. Finally, Barclays reduced their price objective 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. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, MGIC Investment presently has a consensus rating of “Hold” and a consensus price target of $28.00.

Read Our Latest Analysis on MGIC Investment

MGIC Investment Stock Down 0.1% NYSE:MTG opened at $25.71 on Monday. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.13. MGIC Investment Corporation has a twelve month low of $21.94 and a twelve month high of $29.97. The company has a market cap of $5.53 billion, a PE ratio of 8.19, a P/E/G ratio of 2.04 and a beta of 0.83. The company’s 50 day moving average is $26.49 and its two-hundred day moving average is $27.55.

MGIC Investment (NYSE:MTG – Get Free Report) last posted its quarterly earnings data 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%. The firm’s revenue was down .9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.72 earnings per share. Analysts anticipate that MGIC Investment Corporation will post 2.71 EPS for the current year.

MGIC Investment Dividend Announcement The company also recently disclosed a quarterly dividend, which was paid on Friday, March 6th. Stockholders of record on Tuesday, February 17th were paid a $0.15 dividend. 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 dividend payout ratio (DPR) is presently 19.11%.

Insider Transactions at MGIC Investment In related news, CEO Timothy J. Mattke sold 139,203 shares of MGIC Investment 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 sale, the chief executive officer owned 822,588 shares of the company’s stock, valued at $21,806,807.88. The trade was a 14.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Salvatore A. Miosi sold 30,000 shares of the company’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $27.27, for a total transaction of $818,100.00. Following the completion of the sale, the chief operating officer directly owned 454,245 shares in the company, valued at $12,387,261.15. This trade represents a 6.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 189,203 shares of company stock worth $5,058,572 over the last three months. 1.34% of the stock is currently owned by insiders.

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.

Read More 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).

Receive News & Ratings for MGIC Investment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MGIC Investment and related companies with MarketBeat.com's FREE daily email newsletter.

, /PRNewswire/ -- MGIC Investment Corporation (NYSE: MTG) has announced plans to release its first quarter 2026 financial results after the market closes on Wednesday, April 29, 2026. A conference call/webcast has been scheduled for 10:00 a.m. Eastern Time on Thursday, April 30, 2026, to discuss the Company's results for the quarter ended March 31, 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 May 30, 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 8th, 2026

SG Americas Securities LLC raised its holdings in shares of MGIC Investment Corporation (NYSE:MTG – Free Report) by 103.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 46,708 shares of the insurance provider’s stock after acquiring an additional 23,704 shares during the quarter. SG Americas Securities LLC’s holdings in MGIC Investment were worth $1,365,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Alps Advisors Inc. boosted its position in shares of MGIC Investment by 60.6% during the 3rd quarter. Alps Advisors Inc. now owns 701,943 shares of the insurance provider’s stock worth $19,914,000 after acquiring an additional 264,968 shares in the last quarter. Lingohr Asset Management GmbH boosted its position in shares of MGIC Investment by 1,625.5% during the 3rd quarter. Lingohr Asset Management GmbH now owns 233,534 shares of the insurance provider’s stock worth $6,625,000 after acquiring an additional 220,000 shares in the last quarter. Thrivent Financial for Lutherans boosted its position in shares of MGIC Investment by 17.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 472,083 shares of the insurance provider’s stock worth $13,393,000 after acquiring an additional 71,474 shares in the last quarter. Tudor Investment Corp ET AL boosted its position in shares of MGIC Investment by 106.1% during the 3rd quarter. Tudor Investment Corp ET AL now owns 687,445 shares of the insurance provider’s stock worth $19,503,000 after acquiring an additional 353,935 shares in the last quarter. Finally, Moody Aldrich Partners LLC acquired a new position in shares of MGIC Investment during the 3rd quarter worth about $4,648,000. 95.58% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes MTG has been the subject of several analyst reports. Barclays upped their price objective on MGIC Investment from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Monday. Weiss Ratings downgraded MGIC Investment from a “buy (a-)” rating to a “buy (b+)” rating in a report on Thursday, February 5th. Keefe, Bruyette & Woods boosted their target price on MGIC Investment from $27.00 to $28.00 and gave the company a “market perform” rating in a report on Thursday, December 18th. Finally, UBS Group reduced their target price on MGIC Investment from $29.50 to $28.00 and set a “neutral” rating for the company in a report on Thursday, March 12th. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, MGIC Investment has an average rating of “Hold” and an average target price of $28.25.

Check Out Our Latest Report on MGIC Investment

MGIC Investment Stock Performance NYSE MTG opened at $27.03 on Wednesday. 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 business’s 50 day moving average is $26.49 and its two-hundred day moving average is $27.47. MGIC Investment Corporation has a 12-month low of $21.94 and a 12-month high of $29.97. The stock has a market capitalization of $5.81 billion, a price-to-earnings ratio of 8.61, a PEG ratio of 2.11 and a beta of 0.79.

MGIC Investment (NYSE:MTG – Get Free Report) last released its earnings results on Monday, February 2nd. The insurance provider reported $0.75 earnings per share (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%.During the same quarter in the previous year, the business posted $0.72 EPS. MGIC Investment’s revenue was down .9% on a year-over-year basis. Research analysts expect that MGIC Investment Corporation will post 2.71 EPS for the current year.

MGIC Investment Dividend Announcement The firm also recently announced a quarterly dividend, which was paid on Friday, March 6th. Shareholders of record on Tuesday, February 17th were given a dividend of $0.15 per share. The ex-dividend date was Tuesday, February 17th. This represents a $0.60 annualized dividend and a yield of 2.2%. MGIC Investment’s payout ratio is presently 19.11%.

Insiders Place Their Bets In other MGIC Investment news, COO Salvatore A. Miosi sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $27.27, for a total transaction of $818,100.00. Following the transaction, the chief operating officer owned 454,245 shares in the company, valued at approximately $12,387,261.15. The trade was a 6.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Paula C. Maggio sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $27.51, for a total value of $550,200.00. Following the transaction, the executive vice president owned 114,689 shares in the company, valued at $3,155,094.39. The trade was a 14.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 339,336 shares of company stock worth $9,032,971. Company insiders own 1.05% 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.

Featured Stories Five stocks we like better than MGIC Investment

Receive News & Ratings for MGIC Investment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MGIC Investment and related companies with MarketBeat.com's FREE daily email newsletter.

« PREVIOUS HEADLINESG Americas Securities LLC Purchases 10,139 Shares of UL Solutions Inc. $ULS

NEXT HEADLINE »SG Americas Securities LLC Acquires 63,731 Shares of Freshworks Inc. $FRSH

MGIC Investment Corporation remains rated Hold due to persistent headwinds in the US housing market and lack of competitive differentiation. MTG's EPS growth is primarily driven by aggressive share buybacks, with a 31.9% share reduction over five years, masking declines in net income. Despite a five-year streak of dividend increases and robust capital returns, MTG faces rising net losses and uneven home buying activity in key states.

Posted by Defense World Staff on Apr 25th, 2026

Caprock Group LLC boosted its position in MGIC Investment Corporation (NYSE:MTG – Free Report) by 86.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 97,651 shares of the insurance provider’s stock after purchasing an additional 45,335 shares during the period. Caprock Group LLC’s holdings in MGIC Investment were worth $2,853,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Alpine Bank Wealth Management acquired a new position in MGIC Investment in the 3rd quarter worth about $28,000. Newbridge Financial Services Group Inc. acquired a new position in MGIC Investment in the 3rd quarter worth about $28,000. SBI Securities Co. Ltd. increased 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 worth $30,000 after purchasing an additional 395 shares in the last quarter. V Square Quantitative Management LLC acquired a new position in MGIC Investment in the 4th quarter worth about $36,000. Finally, Root Financial Partners LLC acquired a new position in MGIC Investment in the 3rd quarter worth about $38,000. Institutional investors and hedge funds own 95.58% of the company’s stock.

Insider Buying and Selling at MGIC Investment In other MGIC Investment news, CEO Timothy J. Mattke sold 139,202 shares of the company’s stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $26.49, for a total value of $3,687,460.98. Following the sale, the chief executive officer owned 1,118,005 shares in the company, valued at approximately $29,615,952.45. The trade was a 11.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Paula C. Maggio sold 20,000 shares of the company’s stock in a transaction dated 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 sale, the executive vice president owned 114,689 shares in the company, valued at $3,155,094.39. This trade represents a 14.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 200,133 shares of company stock worth $5,342,700. Insiders own 1.34% of the company’s stock.

MGIC Investment Trading Down 0.4% NYSE MTG opened at $28.66 on Friday. The business’s 50-day moving average price is $26.71 and its two-hundred day moving average price is $27.44. MGIC Investment Corporation has a 12 month low of $24.14 and a 12 month high of $29.97. The firm has a market capitalization of $6.16 billion, a PE ratio of 9.13, a price-to-earnings-growth ratio of 2.29 and a beta of 0.79. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.13.

MGIC Investment (NYSE:MTG – Get Free Report) last released 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%.During the same period last year, the firm posted $0.72 EPS. MGIC Investment’s quarterly revenue was down .9% on a year-over-year basis. On average, analysts expect that MGIC Investment Corporation will post 3.08 EPS for the current year.

MGIC Investment announced that its Board of Directors has approved a stock repurchase plan on Thursday, April 23rd that allows the company to buyback $750.00 million in outstanding 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 often an indication that the company’s board of directors believes its shares are undervalued.

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

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

View Our Latest Stock Report on MTG

About MGIC Investment (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).

Receive News & Ratings for MGIC Investment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MGIC Investment and related companies with MarketBeat.com's FREE daily email newsletter.

« PREVIOUS HEADLINECwm LLC Sells 159,627 Shares of The Mosaic Company $MOS

NEXT HEADLINE »Cwm LLC Has $2.31 Million Stock Holdings in GlobalFoundries Inc. $GFS

First Quarter 2026 Net Income of $165.3 million or $0.76 per Diluted Share

First Quarter 2026 Adjusted Net Operating Income (Non-GAAP) of $165.1 million or $0.76 per Diluted Share

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

Tim Mattke, CEO of MTG and Mortgage Guaranty Insurance Corporation ("MGIC") said, "We had a strong start to the year, successfully executing on our business strategies and generating solid first quarter results. We achieved a return on equity of 13% while continuing to return meaningful capital to our shareholders.

"We are well-positioned to navigate dynamic environments, supported by our deep industry expertise, strong balance sheet, and disciplined approach to capital allocation. Our continued focus and commitment to meet our customers' evolving needs has allowed us to drive long-term shareholder value," concluded Mattke.

SUMMARY FINANCIAL METRICS

Quarter ended

 ($ in millions, except where otherwise noted)

Q1 2026

Q4 2025

Q1 2025

Net income

$              165.3

$              169.3

$              185.5

Net income per diluted share

$                0.76

$                0.75

$                0.75

Adjusted net operating income

$              165.1

$              168.4

$              185.2

Adjusted net operating income per diluted share

$                0.76

$                0.75

$                0.75

New insurance written (NIW) (billions)

$                14.4

$                17.1

$                10.2

Net premiums earned

$              235.4

$              236.0

$              243.7

Insurance in force (billions)

$              302.7

$              303.1

$              293.8

Annual persistency

84.0 %

84.8 %

84.7 %

Losses incurred, net

$                33.2

$                31.2

$                  9.6

Primary delinquency inventory

27,006

27,072

25,438

Primary IIF delinquency rate (count based)

2.44 %

2.43 %

2.30 %

Loss ratio

14.1 %

13.2 %

3.9 %

Underwriting expense ratio

20.5 %

19.9 %

22.5 %

In force portfolio yield (bps)

38.0

38.0

38.4

Net premium yield (bps)

31.1

31.2

33.0

Annualized return on equity

13.0 %

13.1 %

14.3 %

Book value per common share outstanding

$              23.63

$              23.47

$              21.40

Adjust for AOCI

$                0.79

$                0.61

$                0.98

Tangible book value per share

$              24.41

$              24.08

$              22.38

CAPITAL AND LIQUIDITY

As of

($ in billions, except where otherwise noted)

March 31, 2026

December 31, 2025

March 31, 2025

PMIERs available assets

$                     5.8

$                     5.7

$                     5.9

PMIERs excess

$                     2.9

$                     2.5

$                     2.6

Holding company liquidity (millions)

$                    709

$                 1,074

$                    824

FIRST QUARTER 2026 HIGHLIGHTS

Through an insurance linked note transaction, we executed a $324 million excess of loss reinsurance agreement that covers certain policies written between January 1, 2022 and March 31, 2025. We repurchased 7.2 million shares of common stock for $192.6 million. We paid a dividend of $0.15 per common share to shareholders. SECOND QUARTER 2026 HIGHLIGHTS

Through April 24, 2026 we repurchased an additional 1.7 million shares of our common stock for $47.4 million. We declared a dividend of $0.15 per common share to shareholders payable on May 21, 2026, to shareholders of record at the close of business on May 6, 2026. 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. Conference Call and Webcast Details

MGIC Investment Corporation will hold a conference call April 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://register-conf.media-server.com/register/BIeb1b95ef583c49419a8d6b744e509dce 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 May 30, 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 March 31,

(In thousands, except per share data)

2026

2025

Net premiums written

$                 234,943

$                 235,346

Revenues

Net premiums earned

$                 235,363

$                 243,719

Net investment income

61,742

61,443

Net gains (losses) on investments and other financial instruments

(169)

741

Other revenue

141

331

Total revenues

297,077

306,234

Losses and expenses

Losses incurred, net

33,242

9,591

Underwriting and other expenses, net

48,108

53,063

Interest expense

8,899

8,899

Total losses and expenses

90,249

71,553

Income before tax

206,828

234,681

Provision for income taxes

41,525

49,221

Net income

$                 165,303

$                 185,460

Net income per diluted share

$                       0.76

$                       0.75

MGIC INVESTMENT CORPORATION AND SUBSIDIARIES

EARNINGS PER SHARE (UNAUDITED)

Three Months Ended March 31,

(In thousands, except per share data)

2026

2025

Net income - basic and diluted

$                  165,303

$                   185,460

Basic weighted average common shares outstanding

216,135

244,147

Dilutive effect of unvested restricted stock units

2,051

2,343

Diluted weighted average common shares outstanding

218,186

246,490

Diluted earnings per share

$                        0.76

$                         0.75

NON-GAAP RECONCILIATIONS

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

Three Months Ended March 31,

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

$ 206,828

$  41,525

$   165,303

$ 234,681

$   49,221

$   185,460

Adjustments:

Net realized investment (gains) losses

(200)

(42)

(158)

(319)

(67)

(252)

Adjusted pre-tax operating income / Adjusted

net operating income

$ 206,628

$  41,483

$   165,145

$ 234,362

$   49,154

$   185,208

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

Weighted average shares - diluted

218,186

246,490

Net income per diluted share

$        0.76

$         0.75

Net realized investment (gains) losses

0.00

0.00

Adjusted net operating income per diluted share

$        0.76

$         0.75

MGIC INVESTMENT CORPORATION AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)

March 31,

December 31,

March 31,

(In thousands, except per share data)

2026

2025

2025

ASSETS

Investments (1)

$    5,719,421

$     5,807,662

$     5,901,057

Cash and cash equivalents

235,090

368,989

206,988

Restricted cash and cash equivalents

14,405

6,525

5,705

Reinsurance recoverable on loss reserves (2)

73,184

65,055

51,864

Home office and equipment, net

31,947

32,454

34,468

Deferred insurance policy acquisition costs

7,955

8,377

11,114

Deferred income taxes, net

15,494

18,512

46,196

Other assets

319,253

331,912

277,744

Total assets

$    6,416,749

$     6,639,486

$     6,535,136

LIABILITIES AND SHAREHOLDERS' EQUITY

Liabilities:

Loss reserves (2)

$       499,120

$        474,884

$        465,033

Unearned premiums

92,606

93,026

111,987

Senior notes

646,506

646,138

645,035

Other liabilities

141,230

277,887

173,197

Total liabilities

1,379,462

1,491,935

1,395,252

Shareholders' equity

5,037,287

5,147,551

5,139,884

Total liabilities and shareholders' equity

$    6,416,749

$     6,639,486

$     6,535,136

Book value per share (3)

$           23.63

$            23.47

$            21.40

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

$     (194,840)

$      (152,767)

$      (261,022)

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

$      425,936

$       409,829

$       413,169

(3) Shares outstanding

213,200

219,367

240,194

MGIC INVESTMENT CORPORATION AND SUBSIDIARIES

ADDITIONAL INFORMATION - NEW INSURANCE WRITTEN

2026

2025

Q1

Q4

Q3

Q2

Q1

New primary insurance written (NIW) (billions)

$       14.4

$       17.1

$       16.5

$       16.4

$       10.2

Monthly (including split premium plans) and

annual premium plans

13.9

16.6

16.1

16.0

9.9

Single premium plans

0.5

0.5

0.4

0.4

0.3

Product mix as a % of primary NIW

Credit score < 680

5 %

5 %

4 %

4 %

4 %

>95% LTVs

14 %

15 %

17 %

13 %

13 %

>45% DTI

25 %

26 %

27 %

26 %

31 %

Singles

4 %

3 %

2 %

2 %

2 %

Refinances

21 %

17 %

6 %

6 %

6 %

New primary risk written (billions)

$         3.8

$         4.4

$         4.4

$         4.3

$         2.6

MGIC INVESTMENT CORPORATION AND SUBSIDIARIES

ADDITIONAL INFORMATION - INSURANCE IN FORCE and RISK IN FORCE

2026

2025

Q1

Q4

Q3

Q2

Q1

Primary Insurance In Force (IIF) (billions)

$        302.7

$        303.1

$        300.8

$       297.0

$       293.8

Total # of loans

1,106,958

1,112,727

1,111,855

1,107,526

1,105,863

Premium Yield

In force portfolio yield (1)

38.0

38.0

38.3

38.3

38.4

Premium refunds (2)

(0.3)

(0.4)

(0.3)

(0.1)

0.0

Accelerated earnings on single premium

0.2

0.3

0.2

0.2

0.2

Total direct premium yield

37.9

37.9

38.2

38.4

38.6

Ceded premiums earned, net of profit

commission and assumed premiums (3)

(6.8)

(6.7)

(5.9)

(5.4)

(5.6)

Net premium yield

31.1

31.2

32.3

33.0

33.0

Average Loan Size of IIF (thousands)

$        273.4

$        272.4

$        270.6

$       268.2

$       265.7

Annual Persistency

84.0 %

84.8 %

85.0 %

84.7 %

84.7 %

Primary Risk In Force (RIF) (billions)

$          81.2

$          81.2

$          80.6

$         79.5

$         78.5

By credit score (%) (4)

760 & >

45 %

45 %

45 %

44 %

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 %

2 %

2 %

Average Coverage Ratio (RIF/IIF)

26.8 %

26.8 %

26.8 %

26.8 %

26.7 %

(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 0.5 bps in the first 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

Q1

Q4

Q3

Q2

Q1

Primary IIF - Delinquent Roll Forward - # of

Loans

Beginning Delinquent Inventory

27,072

25,747

24,444

25,438

26,791

New Notices

13,791

14,489

13,582

11,970

12,965

Cures

(13,393)

(12,632)

(11,814)

(12,588)

(13,981)

Paid claims

(457)

(359)

(359)

(341)

(312)

Rescissions and denials

(7)

(13)

(18)

(35)

(25)

Other items removed from inventory (1)

—

(160)

(88)

—

—

Ending Delinquent Inventory

27,006

27,072

25,747

24,444

25,438

Primary IIF Delinquency Rate (count based)

2.44 %

2.43 %

2.32 %

2.21 %

2.30 %

Primary claim received inventory included in
ending delinquent inventory

383

398

333

295

304

Composition of Cures

Reported delinquent and cured

intraquarter

3,973

3,917

3,606

3,268

4,321

Number of payments delinquent prior to

cure

3 payments or less

6,262

5,734

5,141

5,708

6,379

4-11 payments

2,702

2,466

2,500

2,887

2,759

12 payments or more

456

515

567

725

522

Total Cures in Quarter

13,393

12,632

11,814

12,588

13,981

Composition of Paids

Number of payments delinquent at time

of claim payment

3 payments or less

1

—

1

—

1

4-11 payments

57

32

32

32

28

12 payments or more

399

327

326

309

283

Total Paids in Quarter

457

359

359

341

312

Aging of Primary Delinquent Inventory

Consecutive months delinquent

      3 months or less

9,655

36 %

10,389

38 %

9,817

38 %

8,552

35 %

8,497

33 %

      4-11 months

10,289

38 %

9,559

35 %

8,858

34 %

8,868

36 %

9,907

39 %

      12 months or more

7,062

26 %

7,124

27 %

7,072

28 %

7,024

29 %

7,034

28 %

Number of payments delinquent

      3 payments or less

13,376

49 %

14,121

52 %

13,406

52 %

12,260

50 %

12,319

48 %

      4-11 payments

9,364

35 %

8,747

32 %

8,122

32 %

7,963

33 %

8,788

35 %

      12 payments or more

4,266

16 %

4,204

16 %

4,219

16 %

4,221

17 %

4,331

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

Q1

Q4

Q3

Q2

Q1

Reserves (millions)

Primary Direct Loss Reserves

$             497

$             472

$             450

$             450

$             462

Other Gross Loss Reserves

2

3

2

2

3

Total Gross Loss Reserves

$             499

$             475

$             452

$             452

$             465

Primary Average Direct Reserve

Per Delinquency

$          18,398

$          17,449

$          17,462

$          18,395

$          18,167

Net Paid Claims (millions) (1)

$              17

$              16

$              14

$              12

$              12

Total primary (excluding settlements)

20

16

14

13

12

Rescission and NPL settlements

—

3

1

—

—

Reinsurance

(4)

(3)

(2)

(2)

(2)

LAE and other

1

1

1

1

2

Reinsurance Terminations (1)

—

(1)

—

—

—

Primary Average Claim Payment

(thousands) (2)

$            42.7

$            46.1

$            39.7

$            36.5

$            38.8

(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

Q1

Q4

Q3

Q2

Q1

Quota Share Reinsurance

% NIW subject to reinsurance

86.4 %

86.2 %

88.2 %

87.7 %

86.8 %

Ceded premiums written and earned (millions)

$       37.8

$       38.9

$       32.0

$       28.1

$       29.9

Ceded losses incurred (millions)

$       12.0

$       11.9

$         6.1

$         4.0

$         6.4

Ceding commissions (millions) (included in

underwriting and other expenses)

$       13.4

$       13.4

$       12.9

$       12.1

$       11.7

Profit commission (millions) (included in ceded

premiums)

$       29.1

$       28.3

$       32.6

$       32.3

$       28.7

Excess-of-Loss Reinsurance

Ceded premiums earned (millions)

$       17.8

$       14.8

$       16.2

$       15.4

$       14.7

GAAP loss ratio

14.1 %

13.2 %

4.5 %

(1.2 %)

3.9 %

GAAP underwriting expense ratio

20.5 %

19.9 %

21.1 %

21.9 %

22.5 %

Mortgage Guaranty Insurance Corporation - Risk to

Capital

9.6:1 

10.0:1 

9.7:1 

10.0:1 

9.8:1 

Combined Insurance Companies - Risk to Capital

9.6:1 

10.0:1 

9.7:1 

10.0:1 

9.7:1 

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

MGIC Investment (MTG - Free Report) reported $297.25 million in revenue for the quarter ended March 2026, representing a year-over-year decline of 2.7%. EPS of $0.76 for the same period compares to $0.75 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $301.51 million, representing a surprise of -1.41%. The company delivered an EPS surprise of +3.64%, with the consensus EPS estimate being $0.73.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

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): 14.1% versus the two-analyst average estimate of 17.7%.Combined Ratio - Insurance Segment (Net of underwriting expense ratio and Loss ratio): 34.6% versus 38.6% estimated by two analysts on average.GAAP underwriting expense ratio (insurance operations only): 20.5% compared to the 20.9% average estimate based on two analysts.Revenues- Net investment income: $61.74 million versus the two-analyst average estimate of $62.38 million. The reported number represents a year-over-year change of +0.5%.Revenues- Net premiums earned: $235.36 million versus $238.75 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -3.4% change.Revenues- Other revenue: $0.14 million versus the two-analyst average estimate of $0.39 million. The reported number represents a year-over-year change of -57.4%.View all Key Company Metrics for MGIC here>>>

Shares of MGIC have returned +10.4% over the past month versus the Zacks S&P 500 composite's +12.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

It has been about a month since the last earnings report for MGIC Investment (MTG - Free Report) . Shares have lost about 3.7% in that time frame, underperforming the S&P 500.

But investors have to be wondering, will the recent negative trend continue leading up to its next earnings release, or is MGIC due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its latest earnings report in order to get a better handle on the important drivers.

MGIC Q1 Earnings Beat, Revenues Miss Estimates, Premiums Down Y/Y

MGIC Investment Corporation reported first-quarter 2026 operating net income per share of 76 cents, which beat the Zacks Consensus Estimate by 4.1%. The bottom line also improved 1.3% year over year. Total operating revenues declined 3% year over year to $297 million, attributable to lower net premiums earned and other revenues. The top line missed the Zacks Consensus Estimate by 1.4%. The quarterly results reflected stable investment income, partially offset by lower net premiums earned and other revenues.

Operational UpdateInsurance in force increased 3% year over year to $302.7 billion, exceeding the Zacks Consensus Estimate of $293.7 billion as well as our estimate of $295.6 billion. Meanwhile, primary delinquency rose 6.2% to 27,006 loans during the quarter. Net premiums earned declined 3.4% year over year to $235.4 million, surpassing our estimate of $234.3 million. Meanwhile, net investment income increased 0.5% year over year to $61.7 million, but came in below our estimate of $61.8 million and the Zacks Consensus Estimate of $62.4 million.

Persistency, the percentage of insurance remaining in force, was 84% as of March 31, 2026, and declined 70 basis points from the year-ago quarter’s level. Meanwhile, new insurance written increased 41.5% year over year to $14.4 billion. Underwriting and other expenses, net, declined 9.4% year over year to $48.1 million. However, underwriting performance weakened materially, with the loss ratio surging to 14.1% from 3.9% in the prior-year quarter.

Total losses and expenses increased 26.1% year over year to $90.2 million, attributable to a sharp rise in losses incurred, net, which nearly doubled from the year-ago period.

Financial UpdateBook value per share, a measure of net worth, increased 10.4% year over year to $23.63 as of March 31, 2026. Shareholder equity was $5.3 billion as of March 31, 2026, down 2.1% from the 2025-end level. MGIC Investment's PMIERs Available Assets totaled $5.8 billion, or $2.9 billion above its Minimum Required Assets as of March 31, 2026. Total assets were $6.4 billion as of March 31, 2026, down 4.4% from the 2025-end level. Senior notes totaled $646.5 million as of March 31, 2026, reflecting a 0.1% increase from the 2025-end level.

Capital DeploymentThe company repurchased 7.2 million shares of common stock for $192.6 million and paid a dividend of $400 million to the holding company. MGIC also paid a dividend of 15 cents per common share to shareholders. In January, the company executed an insurance-linked note transaction, that covers certain policies written between Jan. 1, 2022, and March 31, 2025.

MTG  bought back shares worth $47.4 million in April 2026. The board approved a dividend of 15 cents per common share payable in May 21 to shareholders of record on May 3, 2026. Concurrently, the board of directors also approved a share repurchase program, authorizing MTG to repurchase an additional $750 million of common stock through Dec. 31, 2028.

How Have Estimates Been Moving Since Then?Analysts were quiet during the last two month period as none of them issued any earnings estimate revisions.

VGM ScoresAt this time, MGIC has a poor Growth Score of F, a grade with the same score on the momentum front. However, the stock was allocated a score of B on the value side, putting it in the second quintile for this investment strategy.

Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in.

Outlook MGIC has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.

Performance of an Industry PlayerMGIC is part of the Zacks Insurance - Multi line industry. Over the past month, Principal Financial (PFG - Free Report) , a stock from the same industry, has gained 2.4%. The company reported its results for the quarter ended March 2026 more than a month ago.

Principal Financial reported revenues of $3.52 billion in the last reported quarter, representing a year-over-year change of -12.4%. EPS of $2.07 for the same period compares with $1.81 a year ago.

For the current quarter, Principal Financial is expected to post earnings of $2.33 per share, indicating a change of +7.9% from the year-ago quarter. The Zacks Consensus Estimate has changed +0.4% over the last 30 days.

The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for Principal Financial. Also, the stock has a VGM Score of C.