MGIC Investment Corp stock hits 52-week high at $28.29

MGIC Investment (NYSE:MTG) Corp stock reached a new 52-week high, hitting $28.29, reflecting a significant milestone for the $6.7 billion market cap company. According to InvestingPro data, the company maintains a strong financial health score of 3.24 out of 5, labeled as "GREAT." This peak comes as the stock has delivered a 31.5% total return over the past year. The company’s performance has been buoyed by strong financial results, including an attractive P/E ratio of 9.2x and a dividend yield of 1.87%, while management has been actively buying back shares. InvestingPro analysis indicates the stock appears slightly undervalued based on its Fair Value calculations. Investors have shown increased confidence in MGIC Investment Corp, pushing the stock to its highest level in a year, as it continues to capitalize on favorable industry conditions and strategic initiatives. For deeper insights, InvestingPro offers 8 additional key tips and a comprehensive Pro Research Report, part of its coverage of 1,400+ US stocks.

In other recent news, MGIC Investment Corp reported its Q1 2025 earnings, surpassing expectations with an earnings per share (EPS) of $0.75, compared to the forecasted $0.69. Despite slightly missing revenue expectations at $306.23 million versus the anticipated $306.52 million, the company demonstrated robust financial performance. MGIC maintained strong underwriting standards, writing $10 billion in new insurance, and reduced operating expenses to $53 million from $61 million last year. The company’s net income reached $186 million, with an annualized return on equity of 14.3%, while book value per share increased by 13% year-over-year to $21.40. MGIC’s strategic focus on capital management included a share repurchase program totaling 9.2 million shares for $224 million in the first quarter. Looking ahead, MGIC anticipates constrained growth in insurance in force but continues to focus on share repurchases as a primary method of capital return. The company also remains engaged with key stakeholders, including a recent meeting with the new FHFA Director, to strengthen industry relationships.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.