MGIC Investment Corporation (MTG)

In the past six months, MGIC Investment Corp. reported fourth-quarter 2025 operating net income per share of 75 cents, surpassing estimates. However, total operating revenues for Q4 2025 declined by 0.9% year-over-year, leading to a stock price drop. The company demonstrated a strengthening financial position with an increase in book value per share. New insurance written increased year-over-year, indicating robust demand. Insurance in force grew. MGIC Investment Corporation also announced a quarterly cash dividend of $0.15 per share and has a history of increasing its dividends for six consecutive years.

Demand for MGIC Investment Corp.'s products and services is closely tied to the broader residential mortgage market, which exhibits some seasonality. The company's delinquency rate experienced a sequential increase in the fourth quarter of 2025, which was attributed in part to "normal seasonality." Broader economic factors like interest rates and refinance volumes are significant drivers of demand for MGIC's offerings.

MGIC Investment Corp. is a leading provider of private mortgage insurance, mortgage credit risk management solutions, and related services in the United States. The company protects lenders from financial losses on low-down-payment mortgage loans, enabling homeownership for individuals. Its primary product is Primary Insurance, offering mortgage default protection, and it also provides Pool and Other Insurance for secondary market mortgage transactions. MGIC offers services for the mortgage finance industry through its non-insurance subsidiaries, including contract underwriting and mortgage lead generation.

MGIC Investment Corp. provides services across all states in the United States, as well as in Puerto Rico and Guam. The company's most significant exposure is concentrated in key states including California, Florida, Texas, Pennsylvania, Ohio, Illinois, Virginia, North Carolina, Georgia, and New York.

MGIC Investment Corp. has maintained its reputation as a leading provider of private mortgage insurance in the U.S. The company is recognized for its role in establishing modern private mortgage insurance and for facilitating homeownership. The company's consistent financial performance, disciplined risk management, and stable credit quality contribute to a solid industry standing.

Institutional investors are the dominant force in MGIC Investment Corp.'s ownership. Major institutional holders include The Vanguard Group, Inc., BlackRock, Inc., and JP Morgan Asset Management. Top mutual fund holders include iShares Trust - iShares Core S&P Mid-Cap ETF and Vanguard Index Funds - Vanguard Total Stock Market ETF. Individual ownership stakes are modest.