WELL, MGIC IS FIRING ON ALL CYCLINDERS BEATING ALL ESTIMATES IN Q4 2019
"Feb 4, 2020
Fourth Quarter 2019 Net Income of $177.1 million or $0.49 per Diluted Share
Fourth Quarter 2019 Adjusted Net Operating Income (Non-GAAP) of $176.1 million or $0.49 per Diluted Share
Full Year 2019.
Earnings of $673.8 million or $1.85 per Diluted Share
Full Year 2019 Adjusted Net Operating Income (Non-GAAP) of $669.7 million or $1.84 per Diluted Share"
Seeking Alpha"
"GIC Investment reports Q4 beat, $300M buyback program
Feb. 04, 2020 7:23 AM ETMGIC Investment Corporation (MTG)By: Liz Kiesche, SA News Editor
MGIC Investment (NYSE:MTG) Q4 adjusted operating EPS of 49 cents beats the average analyst estimate of 43 cents and increased from 42 cents in the year-ago quarter.
In Q1, MTG gets authorization to buy back $300M of common stock through the end of 2021.
MGIC received approval to pay the holding company a special dividend of $320M and a quarterly dividend of $70M.
"We expect that our insurance in force will grow modestly, and that the number of new mortgage delinquency notices received and the amount of claims paid will continue to decline in 2020," said CEO Tim Mattke.
Q4 total revenue of $311.6M exceeds the $307.1M consensus and rose from $285.6M a year ago.
Q4 new insurance written of $19.3B vs. $12.2B in Q4 2018.
Insurance in force of $222.3B at Dec. 31, 2019 increased by 2% during the quarter and 6% vs. Dec. 31, 2018.
Primary delinquency inventory of 30,028 loans at Dec. 31, 2019 decreased from 32,898 loans at Dec. 31, 2018. Primary delinquency inventory declined 9% Y/Y.
Conference call at 10:00 AM ET.
Previously: MGIC Investment EPS beats by $0.06, beats on revenue (Feb. 4)"
