MGIC Investment (NYSE: MTG) reported Q4 EPS of $0.42, $0.03 better than the analyst estimate of $0.39. Revenue for the quarter came in at $285.63 million versus the consensus estimate of $285.97 million.

Patrick Sinks, CEO of MTG and Mortgage Guaranty Insurance Corporation ("MGIC") said, "I am pleased to report that 2018 produced strong financial results. Specifically compared to 2017, our insurance in force increased more than 7%, persistency continued to increase, investment income increased, and we wrote nearly 3% more new insurance. The credit performance for the new business written since 2008 remains outstanding, the legacy book continued to decrease in size and contribute fewer delinquencies, and we maintained a low expense ratio." Sinks continued, "In 2018 we repurchased more than 4% of our common stock outstanding, executed an insurance linked note transaction that reduces potential future earnings volatility from credit losses, decreased our debt ratios, received an A- rating from A.M. Best for the main operating subsidiaries, and increased dividends to our holding company to $220 million."

Sinks added, "As we enter 2019, we are well positioned in the marketplace to provide credit enhancement and low down payment solutions to lenders, GSEs and borrowers, now, and in the future. We expect that our insurance in force will continue to increase as a result of strong annual persistency and new business writings. Further we anticipate that the number of new mortgage delinquency notices, claims paid and delinquency inventory will continue to decline. We will continue to focus on capital management activities and maintaining our low expense ratio."

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