Mortgage Guaranty Insurance Corporation 'MGIC', the principal subsidiary of MGIC Investment Corporation, serves lenders throughout the United States, Puerto Rico, and other locations helping families achieve homeownership sooner by making affordable low-down-payment mortgages a reality through the use of private mortgage insurance.

Company profile
Ticker
MTG
Exchange
Website
CEO
Timothy Mattke
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
AMBAC Financial • Assured Guaranty • Old Republic International • MBIA • Radian • Essent • NMI • Syncora ...
SEC CIK
Corporate docs
Subsidiaries
MGIC Assurance Corporation • MGIC Credit Assurance Corporation • MGIC Indemnity Corporation • MGIC Insurance Services Corporation • MGIC Investor Services Corporation • MGIC Mortgage Services, LLC • MGIC Reinsurance Corporation • Mortgage Guaranty Insurance Corporation ...
IRS number
391486475
MTG stock data
News

Benzinga's Top Ratings Upgrades, Downgrades For August 18, 2022
18 Aug 22
B of A Securities Upgrades MGIC Investment to Buy, Announces $18 Price Target
18 Aug 22
Recap: MGIC Investment Q2 Earnings
3 Aug 22
MGIC Investment Q2 EPS $0.80 Beats $0.50 Estimate, Sales $293.10M Beat $293.05M Estimate
3 Aug 22
Earnings Scheduled For August 3, 2022
3 Aug 22
Press releases
Shreyans Jain and Richard Chang Join MGIC; Officer Promotions Announced
8 Aug 22
MGIC Investment Corporation Reports Second Quarter 2022 Results
3 Aug 22
MGIC Investment Announces Quarterly Dividend of $0.10 Per Share
28 Jul 22
MGIC Investment Corporation Schedules 2nd Quarter 2022 Earnings Call
8 Jul 22
MGIC Investment Corporation Announces Redemption of Outstanding 5.750% Senior Notes due 2023
14 Jun 22
Analyst ratings and price targets
Current price
Average target
$17.00
Low target
$16.00
High target
$18.00
B of A Securities
Upgraded
$18.00
RBC Capital
Upgraded
$16.00
Calendar
2 Aug 22
18 Aug 22
31 Dec 22
Financial summary
Quarter (USD) | Jun 22 | Mar 22 | Dec 21 | Sep 21 | |
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Diluted EPS |
Annual (USD) | Dec 21 | Dec 20 | Dec 19 | Dec 18 | |
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Diluted EPS |
Cash burn rate (est.) | Burn method: Change in cash | Burn method: Operating income | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
---|---|---|---|---|---|---|
Cash on hand (at last report) | 419.26M | 419.26M | 419.26M | 419.26M | 419.26M | 419.26M |
Cash burn (monthly) | 23.55M | (no burn) | (no burn) | (no burn) | (no burn) | (no burn) |
Cash used (since last report) | 38.8M | n/a | n/a | n/a | n/a | n/a |
Cash remaining | 380.46M | n/a | n/a | n/a | n/a | n/a |
Runway (months of cash) | 16.2 | n/a | n/a | n/a | n/a | n/a |
Recent insider trades
Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
---|---|---|---|---|---|---|---|---|---|---|
25 Jul 22 | Nathaniel H Colson | Common Stock | Payment of exercise | Dispose F | No | No | 13.57 | 9,400 | 127.56K | 127,092 |
25 Jul 22 | Timothy J. Mattke | Common Stock | Payment of exercise | Dispose F | No | No | 13.57 | 35,251 | 478.36K | 791,425 |
25 Jul 22 | Salvatore A Miosi | Common Stock | Payment of exercise | Dispose F | No | No | 13.57 | 28,200 | 382.67K | 508,757 |
25 Jul 22 | James J. Hughes | Common Stock | Other | Acquire J | Yes | No | 0 | 19,875 | 0 | 227,938 |
25 Jul 22 | James J. Hughes | Common Stock | Other | Dispose J | No | No | 0 | 19,875 | 0 | 108,000 |
25 Jul 22 | James J. Hughes | Common Stock | Payment of exercise | Dispose F | No | No | 13.57 | 17,625 | 239.17K | 127,875 |
26 May 22 | Analisa M Allen | Common Stock | Grant | Acquire A | No | No | 0 | 48.762 | 0 | 8,178.783 |
26 May 22 | Analisa M Allen | Share Units Common Stock | Grant | Acquire A | No | No | 0 | 24.636 | 0 | 4,132.294 |
28 Mar 22 | James J. Hughes | Common Stock | Other | Acquire J | Yes | No | 0 | 54,060 | 0 | 208,063 |
28 Mar 22 | James J. Hughes | Common Stock | Other | Dispose J | No | No | 0 | 54,060 | 0 | 145,500 |
Institutional ownership, Q2 2022
13F holders | Current |
---|---|
Total holders | 332 |
Opened positions | 34 |
Closed positions | 52 |
Increased positions | 104 |
Reduced positions | 141 |
13F shares | Current |
---|---|
Total value | 3.94B |
Total shares | 312.44M |
Total puts | 1.14M |
Total calls | 98.5K |
Total put/call ratio | 11.6 |
Largest owners | Shares | Value |
---|---|---|
Vanguard | 35.84M | $451.62M |
BLK Blackrock | 27.15M | $342.15M |
GS Goldman Sachs | 20.23M | $254.86M |
Goldman Sachs & Co | 19.45M | $244.05M |
FMR | 17.73M | $223.46M |
Wellington Management | 16.57M | $208.79M |
Dimensional Fund Advisors | 10.53M | $132.65M |
STT State Street | 10.47M | $131.92M |
JPM JPMorgan Chase & Co. | 10.43M | $131.42M |
LSV Asset Management | 8.52M | $107.31M |
Financial report summary
?Risks
- We may not continue to meet the GSEs’ private mortgage insurer eligibility requirements and our returns may decrease if we are required to maintain more capital in order to maintain our eligibility.
- Because we establish loss reserves only upon a loan delinquency rather than based on estimates of our ultimate losses on risk in force, losses may have a disproportionate adverse effect on our earnings in certain periods.
- Because loss reserve estimates are subject to uncertainties, paid claims may be substantially different than our loss reserves.
- The amount of insurance we write could be adversely affected if lenders and investors select alternatives to private mortgage insurance.
- Changes in the business practices of the GSEs, federal legislation that changes their charters or a restructuring of the GSEs could reduce our revenues or increase our losses.
- Reinsurance may not always be available or affordable.
- We are subject to comprehensive regulation and other requirements, which we may fail to satisfy.
- If the volume of low down payment home mortgage originations declines, the amount of insurance that we write could decline.
- State capital requirements may prevent us from continuing to write new insurance on an uninterrupted basis.
- We are susceptible to disruptions in the servicing of mortgage loans that we insure and we rely on third-party reporting for information regarding the mortgage loans we insure.
- Changes in interest rates, house prices or mortgage insurance cancellation requirements may change the length of time that our policies remain in force.
- Pandemics, hurricanes and other natural disasters may impact our incurred losses, the amount and timing of paid claims, our inventory of notices of default and our Minimum Required Assets under PMIERs.
- The premiums we charge may not be adequate to compensate us for our liabilities for losses and as a result any inadequacy could materially affect our financial condition and results of operations.
- Competition or changes in our relationships with our customers could reduce our revenues, reduce our premium yields and / or increase our losses.
- We are involved in legal proceedings and are subject to the risk of additional legal proceedings in the future.
- If our risk management programs are not effective in identifying, or adequate in controlling or mitigating, the risks we face, or if the models used in our businesses are inaccurate, it could have a material adverse impact on our business, results of operations and financial condition.
- We rely on our management team and our business could be harmed if we are unable to retain qualified personnel or successfully develop and/or recruit their replacements.
- The mix of business we write affects our Minimum Required Assets under the PMIERs, our premium yields and the likelihood of losses occurring.
- Our holding company debt obligations materially exceed our holding company cash and investments.
- Your ownership in our company may be diluted by additional capital that we raise or if the holders of our outstanding convertible debt convert that debt into shares of our common stock.
- The price of our common stock may fluctuate significantly, which may make it difficult for holders to resell common stock when they want or at a price they find attractive.
- We could be adversely affected if personal information on consumers that we maintain is improperly disclosed, our information technology systems are damaged or their operations are interrupted, or our automated processes do not operate as expected.
- Our success depends, in part, on our ability to manage risks in our investment portfolio.
- The Company may be adversely impacted by the transition from LIBOR as a reference rate.
Management Discussion
- Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations
- As discussed under “Forward Looking Statements and Risk Factors” below, actual results may differ materially from the results contemplated by forward looking statements. These forward looking statements speak only as of the date of this filing and are subject to change without notice. We are not undertaking any obligation to update any forward looking statements or other statements we may make in the following discussion or elsewhere in this document even though these statements may be affected by events or circumstances occurring after the forward looking statements or other statements were made. Therefore, no reader of this document should rely on these statements being current as of any time other than the time at which this document was filed with the Securities and Exchange Commission.
- (1) See “Explanation and reconciliation of our use of Non-GAAP financial measures.”
Content analysis
?Positive | ||
Negative | ||
Uncertain | ||
Constraining | ||
Legalese | ||
Litigous | ||
Readability |
H.S. sophomore Avg
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New words:
creation, defendant, exit, flat, inaccurate, military, panel, prudent, published, recommendation, redemption, retaliation, Shareholder, traditional, underserved, variation
Removed:
Administration, agreement, appraised, attributable, exceeding, extended, fewer, improperly, inforce, linked, preferenced, Presidential, restrictive, unobservable
Financial reports
Current reports
8-K
Results of Operations and Financial Condition
3 Aug 22
8-K
Results of Operations and Financial Condition
4 May 22
8-K
Submission of Matters to a Vote of Security Holders
2 May 22
8-K
Departure of Directors or Certain Officers
11 Feb 22
8-K
MGIC Investment Corporation Reports Fourth Quarter 2021 Results
2 Feb 22
8-K
MGIC Investment Corporation Reports Third Quarter 2021 Results
3 Nov 21
8-K
MGIC Investment Corporation Reports Second Quarter 2021 Results
4 Aug 21
8-K
Results of Operations and Financial Condition
5 May 21
8-K
Amendments to Articles of Incorporation or Bylaws
3 May 21
8-K
Fourth Quarter 2020 Net Income of $151.4 million or $0.44 per Diluted Share
23 Feb 21
Registration and prospectus
S-3ASR
Automatic shelf registration
6 May 22
25-NSE
Exchange delisting
7 Dec 20
424B5
Prospectus supplement for primary offering
10 Aug 20
FWP
Free writing prospectus
6 Aug 20
424B5
Prospectus supplement for primary offering
6 Aug 20
S-8
Registration of securities for employees
22 May 20
S-3ASR
Automatic shelf registration
8 May 19
8-A12B/A
Registration of securities on exchange (amended)
27 Apr 18
424B5
Prospectus supplement for primary offering
3 Aug 16
FWP
Free writing prospectus
1 Aug 16
Other
CT ORDER
Confidential treatment order
6 Dec 18
CT ORDER
Confidential treatment order
1 Apr 15
CT ORDER
Confidential treatment order
28 Sep 14
CT ORDER
Confidential treatment order
19 Jun 14
CT ORDER
Confidential treatment order
17 Mar 14
CT ORDER
Confidential treatment order
21 May 13
UPLOAD
Letter from SEC
11 Apr 11
CORRESP
Correspondence with SEC
15 Feb 11
CORRESP
Correspondence with SEC
6 Feb 11
UPLOAD
Letter from SEC
24 Jan 11
Ownership
4
MGIC INVESTMENT / James J. Hughes ownership change
27 Jul 22
4
MGIC INVESTMENT / Salvatore A Miosi ownership change
26 Jul 22
4
MGIC INVESTMENT / Timothy J. Mattke ownership change
26 Jul 22
4
MGIC INVESTMENT / Nathaniel H Colson ownership change
26 Jul 22
4
MGIC INVESTMENT / MICHAEL E LEHMAN ownership change
27 May 22
4
MGIC INVESTMENT / Mark Zandi ownership change
27 May 22
4
MGIC INVESTMENT / Gary A. Poliner ownership change
27 May 22
4
MGIC INVESTMENT / Jodee A Kozlak ownership change
27 May 22
4
MGIC INVESTMENT / TIMOTHY A HOLT ownership change
27 May 22
4
MGIC INVESTMENT / Teresita M. Lowman ownership change
27 May 22
Transcripts
2022 Q1
Earnings call transcript
5 May 22
2021 Q4
Earnings call transcript
3 Feb 22
2021 Q3
Earnings call transcript
4 Nov 21
2021 Q2
Earnings call transcript
5 Aug 21
2021 Q1
Earnings call transcript
6 May 21
2020 Q4
Earnings call transcript
24 Feb 21
2020 Q3
Earnings call transcript
6 Nov 20
2020 Q2
Earnings call transcript
5 Aug 20
2020 Q1
Earnings call transcript
8 May 20
2019 Q4
Earnings call transcript
4 Feb 20
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