Mgic Investment Q1 Net Income Falls Year: over-year

MGIC Investment

29/04/2026 21:53

Overview

U.S. mortgage insurer's Q1 net income and adjusted operating income declined yr/yr

Company repurchased 7.2 mln shares for $192.6 mln in Q1

Board authorized new $750 mln share repurchase program through 2028

Outlook

Company did not provide specific financial guidance for the current or future periods

Result Drivers

HIGHER LOSSES INCURRED - Co's net losses incurred rose to $33.2 mln from $9.6 mln a yr ago, contributing to a higher loss ratio

CAPITAL MANAGEMENT - Co highlighted share repurchases and dividend payments as part of its capital allocation strategy

REINSURANCE AGREEMENT - Co executed a $324 mln excess of loss reinsurance agreement covering certain policies written between Jan 2022 and Mar 2025

Company press release: ID:nPn1NMsB8a

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Net Income
$165.30 mln
Q1 Adjusted Operating Income
$165.10 mln
Q1 Dividend
$0.15


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 3 "hold" and 1 "sell" or "strong sell"

The average consensus recommendation for the property & casualty insurance peer group is "buy."

Wall Street's median 12-month price target for MGIC Investment Corp is $29.00, about 0.1% above its April 28 closing price of $28.98

The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 9 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)