MGIC Investment (MTG) PT Raised to $13 at Deutsche Bank

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MGIC Investment Corporation Reports First Quarter 2017 Results

April 20, 2017 6:45 AM EDT

MILWAUKEE, April 20, 2017 /PRNewswire/ -- MGIC Investment Corporation (NYSE: MTG) today reported operating and financial results for the quarter ended March 31, 2017. Net income for the quarter ended March 31, 2017 was $89.8 million, or $0.24 per diluted share. Net income for the quarter ended March 31, 2016 was $69.2 million, or $0.17 per diluted share.

Net income in the first quarter of 2017 includes an additional $27.2 million tax provision that was recorded for the anticipated settlement of the previously disclosed IRS litigation and net income in the first quarter of 2016 includes a pre-tax loss on debt extinguishment of $13.4 million... More