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MGIC Investment Corp Stock Research

MTG

12.76USD+0.38(+3.07%)Market Closed

Market Summary

USD12.76+0.38
Market Closed
3.07%

MTG Alerts

MTG Stock Price

MTG RSI Chart

MTG Valuation

Market Cap

3.8B

Price/Earnings (Trailing)

4.42

Price/Sales (Trailing)

3.26

EV/EBITDA

3.49

Price/Free Cashflow

5.91

MTG Price/Sales (Trailing)

MTG Profitability

EBT Margin

92.94%

Return on Equity

18.64%

Return on Assets

13.93%

Free Cashflow Yield

16.92%

MTG Fundamentals

MTG Revenue

Revenue (TTM)

1.2B

Revenue Y/Y

-0.63%

Revenue Q/Q

-0.19%

MTG Earnings

Earnings (TTM)

865.3M

Earnings Y/Y

10.07%

Earnings Q/Q

-23.31%

Price Action

52 Week Range

11.2115.64
(Low)(High)

Last 7 days

-0.4%

Last 30 days

-6.4%

Last 90 days

-1.3%

Trailing 12 Months

-7.4%

MTG Financial Health

Debt/Equity

0.14

Debt/Cashflow

0.98

MTG Investor Care

Buy Backs (1Y)

10.85%

Diluted EPS (TTM)

2.79

Peers (Alternatives to MGIC Investment)

View All Peers In Detail
NameMkt Capsorted ascendingRevenuePrice %, 1MReturns, 1YP/EP/SRev 1-YrInc 1-Yr
LARGE-CAP
369.9B
128.7B
-9.85% -8.96%
9.82
2.87
5.79% -22.05%
217.0B
95.0B
-20.85% -35.83%
7.88
2.29
6.55% -13.92%
137.5B
54.0B
-21.26% -28.08%
10.43
2.55
36.10% -38.82%
52.4B
17.9B
-26.59% -35.86%
8.99
2.92
33.05% -26.85%
50.9B
21.1B
-20.57% -33.97%
8.33
2.41
9.94% 6.78%
MID-CAP
6.1B
2.1B
-1.00% -12.77%
9.38
2.91
23.86% 9.06%
4.2B
1.0B
-8.26% -7.33%
5.05
4.19
-2.69% 21.94%
3.8B
1.2B
-6.45% -7.36%
4.42
3.26
-1.09% 36.28%
3.5B
456.2M
-11.62% -21.53%
43.92
7.76
20.21% 11.74%
3.4B
1.2B
-0.63% -3.01%
4.54
2.83
-10.47% 23.68%
2.0B
309.7M
-10.81% -15.23%
23.37
6.5
14.63% -6.38%
SMALL-CAP
1.8B
523.3M
-6.03% 1.36%
6.18
3.46
7.89% 26.73%
1.5B
466.2M
-16.04% -14.13%
8.36
3.15
84.75% 4.60%
1.2B
305.1M
-17.27% -21.00%
8.2
3.79
0.26% -29.77%
756.0M
277.7M
-14.22% -28.48%
7.4
2.72
14.01% -18.93%

Financials for MGIC Investment

Income Statement (Last 12 Months)
(In Millions)
* denotes actual numbers (not divided by Millions)
Description(%) Q/Q2022Q42022Q32022Q22022Q12021Q4
Revenue-0.2%1,1731,1751,1781,1821,186
EBITDA0.8%1,1921,1831,080964-
EBITDA Margin0.9%1.02*1.01*0.92*0.82*-
Earnings Before Taxes2.0%1,0901,068954832802
EBT Margin2.2%0.93*0.91*0.81*0.70*-
Interest Expenses-14.3%48.0056.0064.0068.0071.00
Net Income2.1%865848756660635
Net Income Margin2.2%0.74*0.72*0.64*0.56*-
Free Cahsflow-2.5%647664704722-
Balance Sheet
(In Millions)
Description(%) Q/Q2022Q42022Q32022Q22022Q12021Q4
Assets1.0%6,2146,1546,6006,8457,325
    Cash Equivalents35.3%327242410477285
  Net PPE-6.3%41.0044.0045.0045.0046.00
Liabilities-2.7%1,5711,6142,0272,2342,464
  Long Term Debt-27.8%6639189351,147-
Shareholder's Equity2.3%4,6434,5404,5734,6104,861
  Retained Earnings4.2%4,0043,8433,6243,4003,251
  Additional Paid-In Capital0.4%1,7991,7921,7911,7841,795
Accumulated Depreciation-55.00----
Shares Outstanding-2.0%299305313320-
Cashflow (Last 12 Months)
(In Millions)
Description(%) Q/Q2022Q42022Q32022Q22022Q12021Q4
Cashflow From Operations-2.6%650668709726696
  Share Based Compensation23.1%25.0020.0017.00--
Cashflow From Investing-33.6%410618536463-160
Cashflow From Financing15.5%-1,032-1,222-1,016-892-527
  Dividend Payments3.5%11110710410094.00
  Buy Backs-13.1%386444510414291

Risks for MTG

What is the probability of a big loss on MTG?

73.5%


Probability that MGIC Investment stock will be more than 20% underwater in next one year

38.5%


Probability that MGIC Investment stock will be more than 30% underwater in next one year.

19.6%


Probability that MGIC Investment stock will be more than 40% underwater in next one year.
*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does MTG drawdown profile look like?

Y-axis is the maximum loss one would have experienced if MGIC Investment was unfortunately bought at previous high price.

Drawdowns

Returns for MTG

Cumulative Returns on MTG

12.0%


10-Year Cumulative Returns

9.4%


7-Year Cumulative Returns

2.4%


5-Year Cumulative Returns

31.8%


3-Year Cumulative Returns

What are the long-term rolling returns for MTG?

FIve years rolling returns for MGIC Investment.

Annualized Returns

Which funds bought or sold MTG recently?

View All Details
Datesorted ascendingFund NameType% Chg$ Change$ Held% Portfolio
2023-03-10
VICTORY CAPITAL MANAGEMENT INC
added
4.17
1,933,780
36,286,800
0.04%
2023-03-06
Rockefeller Capital Management L.P.
unchanged
-
1,000
15,000
-%
2023-03-01
Lakewood Asset Management LLC
new
-
34,000
34,000
0.03%
2023-02-28
Voya Investment Management LLC
reduced
-31.33
-2,047,090
4,694,910
0.01%
2023-02-24
NATIXIS
reduced
-86.22
-102,263,000
16,562,000
0.09%
2023-02-22
TEACHERS RETIREMENT SYSTEM OF THE STATE OF KENTUCKY
reduced
-2.39
-25,000
2,557,000
0.03%
2023-02-21
DGS Capital Management, LLC
added
45.68
114,238
353,626
0.23%
2023-02-21
MACQUARIE GROUP LTD
reduced
-5.39
-134,000
1,394,000
-%
2023-02-21
NORTHWESTERN MUTUAL INVESTMENT MANAGEMENT COMPANY, LLC
reduced
-37.27
-204,656
357,344
0.01%
2023-02-21
NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO
reduced
-62.49
-88,361
54,639
-%

1–10 of 45

Latest Funds Activity

Are funds buying MTG calls or puts?
Calls
Puts
Are funds bullish or bearish(Calls - Puts)?
Net Call Options
No. of funds that own MTG
No. of Funds

MGIC Investment News

Nasdaq

Guru Fundamental Report for MTG.

Nasdaq,
5 hours ago

Investor's Business Daily

Schedule 13G FIlings of MGIC Investment

Date FiledName of FilerPercent of ClassNo. of SharesForm Type
Feb 09, 2023
fmr llc
-
0
SC 13G/A
Feb 09, 2023
vanguard group inc
13.53%
40,192,185
SC 13G/A
Feb 06, 2023
wellington management group llp
5.12%
15,208,741
SC 13G/A
Jan 24, 2023
blackrock inc.
9.6%
28,494,884
SC 13G/A
Mar 09, 2022
vanguard group inc
10.49%
33,120,155
SC 13G/A
Feb 10, 2022
vanguard group inc
9.79%
31,859,674
SC 13G/A
Feb 09, 2022
fmr llc
-
0
SC 13G/A
Feb 04, 2022
wellington management group llp
6.90%
22,466,040
SC 13G/A
Feb 01, 2022
blackrock inc.
8.5%
27,745,345
SC 13G/A
Jan 31, 2022
goldman sachs group inc
0.6%
1,945,570
SC 13G/A

MTG Fair Value

MGIC Investment fair value in different scenarios

The table shows the Fair Value estimates for MGIC Investment for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.
Fair ValueVery PessimisticPessimisticBase CaseOptimisticVery Optimistic
Very Low Inflation

-

-

-

-

-

-

-

-

-

-
Current Inflation

17.92

40.44%

20.88

63.64%

25.15

97.10%

33.27

160.74%

38.32

200.31%
Very High Inflation

-

-

-

-

-

-

-

-

-

-

Historical MGIC Investment Fair Value Estimates


Very Pessimistic Case
Pessimistic Case
Fair Value
Optimistic Case
Very Optimistic Case
Closing Stock Price

Recent SEC filings of MGIC Investment

View All Filings
Date Filed Form Type Document
Mar 24, 2023
ARS
ARS
Mar 24, 2023
DEF 14A
DEF 14A
Mar 10, 2023
4
Insider Trading
Mar 10, 2023
4
Insider Trading
Mar 02, 2023
4
Insider Trading
Mar 02, 2023
4
Insider Trading
Mar 02, 2023
4
Insider Trading
Mar 02, 2023
4
Insider Trading
Mar 02, 2023
4
Insider Trading
Mar 02, 2023
4
Insider Trading

Latest Insider Trading transactions for MTG

Filter Transactions
Datesorted ascendingNameBuy/Sell$ ValueAvg. Price# SharesTitle
2023-03-10
Candelmo Robert J
sold (taxes)
-114,118
13.33
-8,561
svp-cio of mort gty ins corp
2023-03-10
Sperber Julie K.
sold (taxes)
-24,473
13.33
-1,836
vp-chief accounting officer
2023-03-02
CHAPLIN C EDWARD
acquired
-
-
64.3003
-
2023-03-02
Allen Analisa M
acquired
-
-
124
-
2023-03-02
LEHMAN MICHAEL E
acquired
-
-
124
-
2023-03-02
Poliner Gary A.
acquired
-
-
64.3003
-
2023-03-02
Lowman Teresita M.
acquired
-
-
117
-
2023-03-02
Kozlak Jodee A
acquired
-
-
124
-
2023-03-02
Zandi Mark
acquired
-
-
64.3003
-
2023-03-02
Hartzell Jay C.
acquired
-
-
124
-

1–10 of 50

Timothy J. Mattke
710
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, 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 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.

MTG Income Statement

2022-12-31
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Premiums written:   
Direct$ 1,108,570$ 1,123,117$ 1,106,632
Assumed8,5358,92410,837
Ceded(156,373)(163,031)(188,727)
Net premiums written960,732969,010928,742
Decrease (increase) in unearned premiums46,40145,40993,201
Net premiums earned1,007,1331,014,4191,021,943
Investment income, net of expenses167,476156,438154,396
Net gains (losses) on investments and other financial instruments(7,463)5,86112,576
Other revenue5,6398,95710,231
Total revenues1,172,7851,185,6751,199,146
Losses and expenses:   
Losses incurred, net(254,565)64,577364,774
Amortization of deferred policy acquisition costs12,36612,60212,380
Other underwriting and operating expenses, net236,697198,445176,398
Loss on debt extinguishment40,19936,91426,736
Interest expense48,05471,36059,595
Total losses and expenses82,751383,898639,883
Income before tax1,090,034801,777559,263
Provision for income taxes224,685166,794113,170
Net income$ 865,349$ 634,983$ 446,093
Earnings per share:   
Basic (in dollars per share)$ 2.83$ 1.90$ 1.31
Diluted (in dollars per share)$ 2.79$ 1.85$ 1.29
Weighted average common shares outstanding - basic (in shares)305,847334,330339,953
Weighted average common shares outstanding - diluted (in shares)311,229351,308359,293

MTG Balance Sheet

2022-12-31
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
Investment portfolio:  
Fixed income, available-for-sale, at fair value (amortized cost, 2022 - $5,926,785; 2021 - $6,397,658)$ 5,409,698$ 6,587,581
Equity securities, at fair value (cost, 2022 - $15,924; 2021 - $15,838)14,14016,068
Other invested assets, at cost8503,100
Total investment portfolio5,424,6886,606,749
Cash and cash equivalents327,384284,690
Restricted cash and cash equivalents5,52920,268
Accrued investment income55,17851,902
Reinsurance recoverable on loss reserves28,24066,905
Reinsurance recoverable on paid losses18,08136,275
Premiums receivable58,00056,540
Home office and equipment, net41,41945,614
Deferred insurance policy acquisition costs19,06221,671
Deferred income taxes, net124,7690
Other assets111,443134,394
Total assets6,213,7937,325,008
Liabilities:  
Loss reserves557,988883,522
Unearned premiums195,289241,690
Federal Home Loan Bank Advance0155,000
Senior notes641,724881,508
Convertible junior subordinated debentures21,086110,204
Other liabilities154,966191,702
Total liabilities1,571,0532,463,626
Contingencies
Shareholders' equity:  
Common stock (one dollar par value, shares authorized 1,000,000; shares issued 2022 - 371,353; 2021 - 371,353; shares outstanding 2022 - 293,433; 2021 - 320,336)371,353371,353
Paid-in capital1,798,8421,794,906
Treasury stock at cost (shares 2022 - 77,920; 2021 - 51,017)(1,050,238)(675,265)
Accumulated other comprehensive (loss) income, net of tax(481,511)119,697
Retained earnings4,004,2943,250,691
Total shareholders' equity4,642,7404,861,382
Total liabilities and shareholders' equity$ 6,213,793$ 7,325,008