MGIC Investment
Protects mortgage lenders from defaults on low-down-payment home loans.
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Profile
Provides private mortgage insurance that protects lenders and mortgage investors from losses on low-down-payment home loans, plus coverage for Fannie Mae and Freddie Mac credit-risk-transfer programs. Premium income and claims depend on mortgage originations, borrower defaults, GSE eligibility standards, and state insurance capital rules.
Provides private mortgage insurance on low-down-payment residential loans through Mortgage Guaranty Insurance Corporation. Primary coverage protects lenders and mortgage investors against part of the principal, interest, and foreclosure-related costs when borrowers default. Insurance subsidiaries also assume portions of mortgage credit risk transferred by Fannie Mae and Freddie Mac, all within a single Mortgage Insurance segment.
Serves mortgage originators nationwide, as well as in Puerto Rico and Guam, using risk-based underwriting and MiQ pricing to match premiums with borrower and loan characteristics. Revenue comes mainly from recurring insurance premiums, while losses move with borrower defaults and claim severity. The business depends on housing and mortgage-origination conditions, continued approval under Fannie Mae and Freddie Mac eligibility rules, and compliance with state insurance capital requirements.
Company facts
Key statistics
Year to date +6.4% · Average volume (30d) 1.6M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Jul 30, 2026 | Roth Capital | Reiterate | Buy | $35 | ||
| May 22, 2026 | RBC Capital | Target | $16 | $28 | ||
| Jan 6, 2026 | Barclays | Reiterate | Equal Weight | $28 | $30 | |
| Oct 6, 2025 | Barclays | Reiterate | Equal Weight | $21 | $28 | |
| Feb 5, 2025 | Compass Point | Downgrade | Buy | Neutral |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 29, 2026Q2 FY26 | $0.76 | $0.87 | +14.0% | $297.5M | $295.4M | −0.7% | −0.43% |
| Apr 29, 2026Q1 FY26 | $0.73 | $0.76 | +4.1% | $303.1M | $297.1M | −2.0% | −9.10% |
| Feb 2, 2026Q4 FY25 | $0.73 | $0.75 | +2.7% | $308.3M | $298.7M | −3.1% | −5.19% |
| Oct 29, 2025Q3 FY25 | $0.72 | $0.83 | +15.3% | $308.2M | $304.5M | −1.2% | +4.32% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $306.2M | $304.2M | $304.5M | $298.7M | $297.1M | $295.4M | |
| Gross profit | $295.0M | $305.3M | $291.7M | $267.4M | $262.6M | $283.1M | |
| Operating income | $234.7M | $246.1M | $235.1M | $212.7M | $214.5M | $238.8M | |
| Net income | $185.5M | $192.5M | $191.1M | $169.3M | $165.3M | $182.1M | |
| Diluted EPS | $0.75 | $0.81 | $0.83 | $0.75 | $0.76 | $0.86 | |
| Gross margin | 96.3% | 100.4% | 95.8% | 89.5% | 88.4% | 95.8% | |
| Operating margin | 76.6% | 80.9% | 77.2% | 71.2% | 72.2% | 80.9% |
Fiscal years (4-quarter sums)FY21 $1.19B · FY22 $1.17B · FY23 $1.16B · FY24 $1.21B · FY25 $1.21B
Balance sheet, Jun 30, 2026Cash & short-term investments $5.91B · Total debt $646.9M · Total assets $6.53B · Shareholders' equity $5.01B
Dividends
Raised for 6 straight years — most recently to $0.17 from $0.15 in Aug 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Aug 5, 2026 | Aug 5 | Aug 20 | $0.17 | raised from $0.15 |
| May 6, 2026 | May 6 | May 21 | $0.15 | |
| Feb 17, 2026 | Feb 17 | Mar 6 | $0.15 | |
| Nov 6, 2025 | Nov 6 | Nov 20 | $0.15 | |
| Aug 7, 2025 | Aug 7 | Aug 21 | $0.15 | raised from $0.13 |
| May 8, 2025 | May 8 | May 21 | $0.13 | |
| Feb 18, 2025 | Feb 18 | Mar 5 | $0.13 | |
| Nov 7, 2024 | Nov 7 | Nov 21 | $0.13 |
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 205.13M · Float 201.93M · 98.4% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 21.93M | 10.69% | 13F | Aug 7, 2026 |
| Vanguard Portfolio Management LLC | 17.43M | 8.50% | 13F | Aug 13, 2026 |
| Dimensional Fund Advisors LP | 13.80M | 6.73% | 13F | Aug 11, 2026 |
| AQR Capital Management LLC | 11.27M | 5.49% | 13F | Aug 14, 2026 |
| JPMorgan Chase & Co | 11.08M | 5.40% | 13F | Aug 12, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 7, 2026 | Paula C. Maggio | officer: EVP and General Counsel | −20,000 | $30.30 |
| Aug 5, 2026 | Timothy J. Mattke | director, officer: Chief Executive Officer | −137,113 | $30.52 |
| Aug 3, 2026 | Salvatore A. Miosi | officer: President & COO | −30,000 | $29.70 |
| Jul 1, 2026 | Salvatore A. Miosi | officer: President & COO | −30,000 | $28.23 |
| Jun 25, 2026 | Nathaniel H. Colson | officer: Officer EVP, CFO & CRO | −20,000 | $27.10 |
Peers
- Radian Group
U.S. private mortgage insurance and real-estate risk solutions
- Enact
U.S. private mortgage insurance for residential lenders
- Essent Group
Private mortgage insurance and related housing-finance services
- Arch Capital Group
Diversified insurer with a U.S. primary mortgage-insurance business
- National MI
U.S. private mortgage insurance and lender loan-review services
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| MGIC Investment | $30.99 | −0.06% | $6.36B | 9.7 | 9.6 | 5.3 | −2.9% |
| Radian Group | $36.41 | 0.00% | $4.84B | 9.3 | 7.3 | 2.9 | +80.9% |
| Enact | $49.07 | +0.03% | $6.85B | 10.3 | 9.9 | 5.5 | +4.2% |
| Essent Group | $69.30 | +0.57% | $6.35B | 9.6 | 9.1 | 4.8 | +13.6% |
| Arch Capital Group | $97.15 | −1.71% | $34.53B | 7.7 | 10.5 | 1.8 | −22.3% |
| National MI | $40.84 | −8.87% | $3.40B | 8.8 | 8.4 | 4.7 | −9.4% |
| Median | 9.3 | 9.1 | 4.7 | +4.2% |