MGIC Investment Corp (N:MTG)
Business Focus: Property Insurance
| Sector: Financials | Industry: Property & Casualty Insurance |
| See Regulatory Filings on SEC | |
| Company Contact | |
| Address: | 250 E Kilbourn Ave MILWAUKEE WI 53202-3102 |
| Tel: | 1-800-5589900 |
| Website: | https://www.mgic.com |
| IR: | See website |
| Key People | ||
| Salvatore A. Miosi President and Chief Operating Officer of MGIC Investment Corporation and MGIC | Timothy J. Mattke Chief Executive Officer and Director of MGIC Investment Corporation and MGIC | Nathaniel H. Colson Executive Vice President, Chief Financial Officer of MGIC Investment Corporation and MGIC |
| Paula C. Maggio Executive Vice President, General Counsel and Secretary of MGIC Investment Corporation and MGIC | Robert J. Candelmo Senior Vice President, Chief Information Officer of MGIC | Steven M. Thompson Executive Vice President and Chief Risk Officer of MGIC |
| Business Overview |
| MGIC Investment Corporation is a holding company. The Company, through its wholly owned subsidiaries, provides private mortgage insurance, other mortgage credit risk management solutions, and ancillary services. The Company's mortgage insurance product offers Primary Insurance and Pool and Other Insurance. Primary insurance provides mortgage default protection on individual loans and covers a percentage of the unpaid loan principal, delinquent interest and certain expenses associated with the default and subsequent foreclosure on the mortgage or sale of the underlying property. Pool insurance is generally used as an additional credit enhancement for certain secondary market mortgage transactions. Pool insurance generally covers the amount of the loss on a defaulted mortgage loan that exceeds the claim payment under the primary coverage. |
| Financial Overview |
| For the fiscal year ended 31 December 2023, MGIC Investment Corp revenues decreased 2% to $1.16B. Net income decreased 18% to $712.9M. Revenues reflect Investment Expense - Insurance decrease of 5% to -$4.6M. Dividend per share increased from $0.36 to $0.43. Basic Earnings per Share excluding Extraordinary Items decreased from $2.83 to $2.51. |
| Employees: | 627 as of Dec 31, 2023 |
| Reporting Currency: | U.S. Dollars |
| Enterprise value: | $5,538M as of Dec 31, 2023 |
| Annual revenue (TTM): | $1,155M as of Dec 31, 2023 |
| EBITDA (TTM): | $985.18M as of Dec 31, 2023 |
| Net annual income (TTM): | $712.95M as of Dec 31, 2023 |
| Free cash flow (TTM): | $588.00M as of Dec 31, 2023 |
| Net Debt Last Fiscal Year: | $279.53M as of Dec 31, 2023 |
| Shares outstanding: | 269,669,667 as of Feb 16, 2024 |
| Index Membership: | S&P 400 Mid Cap |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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