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MGIC’s Revenue and Income Rose in 3Q15

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Oct. 21 2015, Updated 9:06 a.m. ET

MGIC’s price movement

MGIC Investment (MTG) has a market cap of $3.4 billion. MGIC’s YTD (year-to-date) price movement fell from July 2015. After the earnings report in 3Q15, MGIC rose by 4% to close at $10 per share as of October 15, 2015. The revenue rose by 10.9% in 3Q15. The price movement on a weekly, monthly, and YTD basis is 1.7%, -3.6%, and 7%, respectively.

Technically, it has broken all of the support since August 2015. Currently, it’s trading at 4% above the 20-day moving average, -1.5% below the 50-day moving average, and -1.5% below the 200-day moving average.

The PowerShares DWA Financial Momentum Portfolio (PFI) invests 3.9% of its holdings in MGIC. PFI tracks an index of US financial firms selected and weighted by price momentum. The KBE Bank Fund (KBE) invests 1.6% of its holdings in MGIC.

MGIC’s competitors and their market caps are:

  • Old Republic International (ORI) – $4.4 billion
  • Radian Group (RDN) – $3.5 billion
  • Essent Group (ESNT) – $2.4 billion
  • Arch Capital Group (ACGL) – $9.3 billion
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MGIC’s performance in 3Q15

The company reported net revenue of $269.5 million in 3Q15—a rise of 10.9% compared to the net revenue of $243.1 million in 2Q15. The net premiums earned and investment income rose by 12.0% and 0.71% in 3Q15. The net income and EPS (earnings per share) rose to $822.9 million and $1.78 per share in 3Q15—compared to the net income and EPS of $113.7 million and $0.28 per share in 2Q15. The investments and cash and cash equivalents rose by 0.91% and 78.2% in 3Q15.

About MGIC Investment

MGIC Investment offers mortgage insurance and risk management products and services to mortgage lenders. It offers structured finance services to investors.

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