MGIC Investment Corporation Reports First Quarter 2019 Results
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April 24, 2019 6:44 AM EDT
RBC Capital analyst Mark Dwelle raised the price target on MGIC Investment (NYSE: MTG) to $16.00 (from $14.00) while maintaining a Sector Perform rating following Q1 results.
'19 off to a strong start, growth outlook remains favorable...
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April 23, 2019 6:46 AM EDT
MGIC Investment (NYSE: MTG) reported Q1 EPS of $0.42, $0.03 better than the analyst estimate of $0.39. Revenue for the quarter came in at $291.7 million versus the consensus estimate of $285.95 million.
Patrick Sinks, CEO of MTG and Mortgage Guaranty Insurance Corporation ("MGIC") said, "In the first quarter our insurance in force increased primarily due to strong persistency and the addition of $10.1 billion of high quality new insurance writings. The current conditions of the employment and housing markets contributed to the continued decline in the primary delinquent inventory and low level of new delinquent notices received." Sinks... More
