Wednesday, June 24, 2020 12:31:51 AM
MOSTLY LIKELY, no big shareholder would sell a few million to them now. However, they could take advantage of open market prices and buy a few million to cost average down on their repurchase program.
Im sure they wouldn't have bought at $12.46 per share if, they would have known, that they could have bought at today's prices.
They could have bought 4.4 million more shares at today's price.
Well endowed investors are salivating at prospects of getting a homeowners house due the coronavirsus pandemic but, so far foreclosures continue to hit record lows. So, although, we may see a tick higher in reserves due to delinquencies increasing, it may not result in substantially higher claims activity.
No material increase in claims, no outflow of cash. Thus, MGIC INVESTMENT maintains it capital base. Although, it's prudent to establish a reserve for a delinquency, the probability of it resulting in an out of pocket expense is a component of the calculation of the reserve.
Recent MTG News
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