Breaking News
0

MGIC Investment Records Solid Insurance In Force In August

By Zacks Investment ResearchSep 10, 2019 10:54PM ET
www.investing.com/analysis/mgic-investment-records-solid-insurance-in-force-in-august-200463770
MGIC Investment Records Solid Insurance In Force In August
By Zacks Investment Research   |  Sep 10, 2019 10:54PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 

MGIC Investment Corp. (NYSE:MTG) recently announced its August 2019 operating business statistics. Insurance in force was $21 billion, up 6.2% year over year. Delinquency loans (loans that failed to pay back) at MGIC Investment declined on a year-over-year basis. Delinquent inventory decreased 10.3% year over year to 30,276.

New delinquency notices increased 6% year over year to 4,722 in the month.

The company’s performance, over the past several quarters, has been aided by improving housing market fundamentals such as household formation and home sales and capital status. MGIC Investment is one of the six private mortgage insurers operating in the competitive industry and currently holds 18% market share. It expects to have 19-20% of market share in the industry in which it operates.

Strengthening purchase mortgage market and mortgage insurer’s solid market share (measured by new insurance written) have been driving new business. Given the strong purchase market and potential share gain from FHA, the company anticipates strong writing in 2019 on the back of new business and strong persistency. Also, improving housing market fundamentals should support this Zacks Rank #3 (Hold) mortgage insurer’s performance.

Also, declining loss and claims should continue to strengthen the company’s balance sheet and improve its financial profile.

Shares of MGIC Investment have rallied 24.9% year to date outperforming the industry’s increase of 7.3%. Improving housing market, solid insurance in force and fall in delinquency should help the stock retain the momentum.

Stocks to Consider

Some better-ranked stocks in the multiline industry include Assurant (NYSE:AIZ) , MetLife (NYSE:MET) and Radian Group (NYSE:RDN) , each carrying Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Assurant provides risk management solutions for housing and lifestyle markets in North America, Latin America, Europe and the Asia Pacific. The company delivered positive surprise of 9.86% in the last reported quarter.

MetLife engages in the insurance, annuities, employee benefits, and asset management businesses. The company delivered positive surprise of 5.34% in the last reported quarter.

Radian Group provides mortgage and real estate products and services in the United States. The company delivered positive surprise of 14.29% in the last reported quarter. The stock carries a Zacks Rank #2.

Looking for Stocks with Skyrocketing Upside?

Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.

Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.

See the pot trades we're targeting>>



Radian Group Inc. (RDN): Free Stock Analysis Report

MGIC Investment Corporation (MTG): Free Stock Analysis Report

MetLife, Inc. (MET): Free Stock Analysis Report

Assurant, Inc. (AIZ): Free Stock Analysis Report

Original post

Zacks Investment Research
MGIC Investment Records Solid Insurance In Force In August
 
MGIC Investment Records Solid Insurance In Force In August

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email