MGIC Investment (MTG)

Market Price (10/10/2026): $27.43 | Market Cap: $5.8 BilSector: Financials | Industry: Reinsurance

MGIC Investment (MTG)

Market Price (10/10/2026): $27.43
Market Cap: $5.8 Bil
Sector: Financials
Industry: Reinsurance

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 15%, Dividend Yield is 2.3%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 11%, FCF Yield is 12%

Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -91%

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 59%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 59%

Stock buyback support
Stock Buyback 3Y Total is 1.9 Bil

Low stock price volatility
Vol 12M is 25%

Megatrend and thematic drivers
Megatrends include Future of Housing & Real Estate. Themes include Affordable Homeownership, and Real Estate Risk Management.

Weak multi-year price returns
2Y Excs Rtn is -24%, 3Y Excs Rtn is -8.8%

Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -1.9%, Rev Chg QQuarterly Revenue Change % is -2.9%

Key risks
MTG key risks include [1] housing market downturns driving higher claim payouts, Show more.

0	Attractive yield Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 15%, Dividend Yield is 2.3%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 11%, FCF Yield is 12%
1	Cash is significant % of market cap Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -91%
2	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 59%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 59%
3	Stock buyback support Stock Buyback 3Y Total is 1.9 Bil
4	Low stock price volatility Vol 12M is 25%
5	Megatrend and thematic drivers Megatrends include Future of Housing & Real Estate. Themes include Affordable Homeownership, and Real Estate Risk Management.
6	Weak multi-year price returns 2Y Excs Rtn is -24%, 3Y Excs Rtn is -8.8%
7	Weak revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -1.9%, Rev Chg QQuarterly Revenue Change % is -2.9%
8	Key risks MTG key risks include [1] housing market downturns driving higher claim payouts, Show more.

MTG in ETFs

Weight = MTG's share of each fund

VTI0.01%

ITOT0.01%

IWB0.01%

IJH0.16%

VYM0.03%

VB0.08%

AVUV0.46%

IVOO0.18%

+20 more covered ETFs

Valuation & Metrics

FYE: 12/31	Forward FYE		Now	Historical (CYE & TTM)
	2027	2026	10/10/26	2025	2024	2023	2022
Share Price			$27.43	$29.22	$23.71	$19.29	$13.00
Mkt Cap ($ Bil)			5.8	6.5	6.0	5.3	3.8
+ Debt ($ Bil)			0.6	0.6	0.6	0.6	0.7
- Cash ($ Bil)			5.9	6.2	6.1	6.1	5.7
TEV ($ Bil)			0.5	7.1	6.6	5.9	4.5
Valuation Ratios
P/S	4.8	4.8	4.8	5.4	5.0	4.6	3.3
P/EBIT	5.8	6.2	6.3	6.7	6.0	5.7	3.4
P/E	7.3	7.8	8.1	8.8	7.8	7.5	4.4
P/FCF	—	—	8.2	7.6	8.3	7.5	6.0
Sector Ratios (* = sector average)
P/S *			3.1	3.1	3.0	2.7	2.6
P/EBIT *			6.7	7.5	8.6	7.9	7.7
P/E *			11.2	11.0	11.4	10.0	9.0
P/FCF *			8.5	9.0	9.0	7.9	6.2

FYE: 12/31	Forward FYE		Now
	2027	2026	10/10/26
Share Price			$27.43
Mkt Cap ($ Bil)			5.8
+ Debt ($ Bil)			0.6
- Cash ($ Bil)			5.9
TEV ($ Bil)			0.5
Valuation Ratios
P/S	4.8	4.8	4.8
P/EBIT	5.8	6.2	6.3
P/E	7.3	7.8	8.1
P/FCF	—	—	8.2
Sector Ratios (* = sector average)
P/S *			3.1
P/EBIT *			6.7
P/E *			11.2
P/FCF *			8.5

FYE: 12/31	MTG [1]	S&P 500 [2]
REVENUE GROWTH
LTM Revenue [3]	$1.2 Bil	—
FY 2026 Sales	$1.2 Bil	—
FY 2027 Sales	$1.2 Bil	—
FY 2026 Sales Growth	-0.4%	—
FY 2027 Sales Growth	1.0%	13.1%
EARNINGS
LTM Net Income (GAAP) [3]	$707.9 Mil	—
FY 2026 Net Income (Non-GAAP)	$734.3 Mil	—
FY 2027 Net Income (Non-GAAP)	$790.4 Mil	—
FY 2027 Net Income Growth	7.6%	18.9%
FY 2026 EPS (Non-GAAP)	$3.25	—
FY 2027 EPS (Non-GAAP)	$3.44	—
FY 2027 EPS Growth	5.6%	—
VALUATION
FY 2026 P/S	4.8	1.7
FY 2027 P/S	4.8	—
FY 2026 P/E	7.8	7.9
FY 2027 P/E	7.3	—

[1] MTG forward figures are analyst consensus for the next two fiscal years (fiscal year end 12/31). Net Income and EPS are non-GAAP (adjusted) consensus. P/S and P/E divide the current market cap by the consensus figure.
[2] S&P 500 figures are the SPY ETF's holdings-weighted forward aggregate. P/S and P/E reflect FY1/FY2 consensus blended to the 12-month window ending 10/31/27 (~one year forward), shown when ≥90% of index weight has estimates. Growth is the aggregate next-fiscal-year vs current-fiscal-year (FY1→FY2) change. Index-level dollar Sales, Net Income and EPS are not applicable.
[3] LTM = reported trailing-twelve-month actuals (GAAP).

	MTG	S&P 500
REVENUE GROWTH	VERY POOR
Rev LTM ($ Bil)	1.2
Rev Chg Q	-2.9%	9.3%
Rev Chg LTM	-1.9%	8.3%
Rev Chg 3Y Avg	1.0%	5.9%
PROFITABILITY	VERY GOOD
Op Inc LTM ($ Bil)	�
CFO LTM ($ Bil)	0.7
Net Inc LTM ($ Bil)	0.7
CFO/Rev LTM	59.2%	21.9%
Net Inc Mgn	59.2%	13.3%
VALUATION	LOW
P/S	4.8	3.1
P/CFO	8.1	14.4
P/FCF	8.2	18.9
P/E	8.1	22.2

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Metric	Value	Date	Source
New insurance written	$16.5 billion	9302025	Link
Insurance in force	$300.8 billion	9302025	Link
Annual persistency	85.0%	9302025	Link
Primary delinquency inventory	25747	9302025	Link
Number of mortgages covered	1.1 million	9302025	Link

Price Chart

No Events

Why The Stock Moved

Qualitative Assessment

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Updated on 10/8/2026

MGIC Investment (MTG) stock has remained largely at the same level since 6/30/2026 because of the following key factors:

1. Mixed Fiscal Q2 2026 Financial Results.MGIC Investment reported diluted earnings per share (EPS) of $0.87 for fiscal Q2 2026, surpassing analyst consensus estimates of $0.76 by $0.11. This positive earnings beat provided fundamental support for the stock. However, this was tempered by a 2.9% year-over-year decline in revenue, totaling $295.39 million, which also missed analysts' expectations. This combination of strong profitability but declining revenue likely resulted in a balanced market reaction, contributing to the stock's relatively stable trend during the period.

2. Increased Shareholder Returns and Affirmation of Financial Strength.In July 2026, the company demonstrated a commitment to shareholder returns by increasing its quarterly cash dividend by 13%, raising it to $0.17 per share from $0.15 per share. This marked the sixth consecutive year of dividend increases. Further reinforcing investor confidence, AM Best affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of "a" (Excellent) for MGIC's operating subsidiaries in October 2026, citing strongest balance sheet strength and strong operating performance with a stable outlook. These actions and ratings provided a strong floor for the stock's valuation.

3. Neutral U.S. Housing Market Conditions.The broader U.S. housing market presented a mixed picture, characterized by persistent high mortgage rates, generally in the mid-6% area for 30-year fixed rates during fiscal Q3 2026. This led to affordability challenges and slowed existing home sales, with Zillow forecasting a 3.5% year-over-year decline in existing home sales for fiscal Q4 2026. While these conditions suggest headwinds for the mortgage sector, the market avoided a broad crash, and MGIC's new insurance written reached a multi-year high in fiscal Q2 2026, maintaining strong credit performance, indicating a degree of resilience within the mortgage insurance segment.

4. Market Anticipation for Fiscal Q3 2026 Earnings Amidst Insider Selling.The stock's largely stable trajectory can also be attributed to investors awaiting fresh financial data from the company. MGIC Investment scheduled the release of its fiscal Q3 2026 financial results for November 4, 2026, which served as the next major catalyst for market re-evaluation. Simultaneously, insider selling activities, including a COO selling 30,000 shares and total insider sales reaching $5.9 million in the last quarter prior to October 5, 2026, may have acted as a counterbalancing force, limiting significant upward momentum despite a "Moderate Buy" consensus rating from analysts.

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Stock Movement Drivers

Fundamental Drivers

The -2.2% change in MTG stock from 6/30/2026 to 10/9/2026 was primarily driven by a -3.6% change in the company's P/E Multiple.

(LTM values as of)	6302026	10092026	Change
Stock Price ($)	28.05	27.43	-2.2%
Change Contribution By:
Total Revenues ($ Mil)	1,204	1,196	-0.7%
Net Income Margin (%)	59.6%	59.2%	-0.7%
P/E Multiple	8.4	8.1	-3.6%
Shares Outstanding (Mil)	216	210	3.0%
Cumulative Contribution			-2.2%

LTM = Last Twelve Months as of date shown

Market Drivers

6/30/2026 to 10/9/2026

	Return	Correlation
MTG	-2.2%
Market (SPY)	4.3%	10.6%
Sector (XLF)	2.1%	38.1%

Fundamental Drivers

The 5.7% change in MTG stock from 3/31/2026 to 10/9/2026 was primarily driven by a 5.9% change in the company's Shares Outstanding (Mil).

(LTM values as of)	3312026	10092026	Change
Stock Price ($)	25.96	27.43	5.7%
Change Contribution By:
Total Revenues ($ Mil)	1,214	1,196	-1.5%
Net Income Margin (%)	60.8%	59.2%	-2.7%
P/E Multiple	7.8	8.1	4.1%
Shares Outstanding (Mil)	222	210	5.9%
Cumulative Contribution			5.7%

LTM = Last Twelve Months as of date shown

Market Drivers

3/31/2026 to 10/9/2026

	Return	Correlation
MTG	5.7%
Market (SPY)	20.0%	-0.3%
Sector (XLF)	11.2%	33.9%

Fundamental Drivers

The -1.1% change in MTG stock from 9/30/2025 to 10/9/2026 was primarily driven by a -5.4% change in the company's Net Income Margin (%).

(LTM values as of)	9302025	10092026	Change
Stock Price ($)	27.75	27.43	-1.1%
Change Contribution By:
Total Revenues ($ Mil)	1,219	1,196	-1.9%
Net Income Margin (%)	62.6%	59.2%	-5.4%
P/E Multiple	8.6	8.1	-5.4%
Shares Outstanding (Mil)	236	210	12.6%
Cumulative Contribution			-1.1%

LTM = Last Twelve Months as of date shown

Market Drivers

9/30/2025 to 10/9/2026

	Return	Correlation
MTG	-1.1%
Market (SPY)	17.8%	7.4%
Sector (XLF)	2.8%	41.0%

Fundamental Drivers

The 75.7% change in MTG stock from 9/30/2023 to 10/9/2026 was primarily driven by a 43.4% change in the company's P/E Multiple.

(LTM values as of)	9302023	10092026	Change
Stock Price ($)	15.61	27.43	75.7%
Change Contribution By:
Total Revenues ($ Mil)	1,160	1,196	3.1%
Net Income Margin (%)	67.8%	59.2%	-12.7%
P/E Multiple	5.7	8.1	43.4%
Shares Outstanding (Mil)	286	210	36.2%
Cumulative Contribution			75.7%

LTM = Last Twelve Months as of date shown

Market Drivers

9/30/2023 to 10/9/2026

	Return	Correlation
MTG	75.7%
Market (SPY)	88.4%	38.9%
Sector (XLF)	72.2%	59.5%

Return vs. Risk

Price Returns Compared

	2021	2022	2023	2024	2025	2026	Total [1]
Returns
MTG Return	17%	-7%	52%	26%	26%	-3%	154%
Peers Return	4%	6%	36%	27%	13%	14%	147%
S&P 500 Return	27%	-19%	24%	23%	16%	13%	107%
Monthly Win Rates [3]
MTG Win Rate	58%	58%	75%	75%	75%	50%
Peers Win Rate	53%	53%	65%	60%	60%	64%
S&P 500 Win Rate	75%	42%	67%	75%	67%	50%
Max Drawdowns [4]
MTG Max Drawdown	-19%	-30%	-13%	-13%	-12%	-18%
Peers Max Drawdown	-23%	-29%	-16%	-14%	-18%	-14%
S&P 500 Max Drawdown	-5%	-25%	-10%	-8%	-19%	-9%

[1] Cumulative total returns since the beginning of 2021
[2] Peers: RGA, RNR, EG, MTG, SPNT.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 10/9/2026 (YTD)

Event	MTG	S&P 500
2023 SVB Regional Banking Crisis
% Loss	-11.6%	-6.7%
% Gain to Breakeven	13.2%	7.1%
Time to Breakeven	20 days	31 days
2022 Inflation Shock & Fed Tightening
% Loss	-20.6%	-24.5%
% Gain to Breakeven	26.0%	32.4%
Time to Breakeven	49 days	427 days
2020 COVID-19 Crash
% Loss	-62.6%	-33.7%
% Gain to Breakeven	167.2%	50.9%
Time to Breakeven	279 days	140 days
Q4 2018 Fed Policy Error / Growth Scare
% Loss	-28.5%	-19.2%
% Gain to Breakeven	40.0%	23.8%
Time to Breakeven	57 days	105 days
2015-2016 China Devaluation / Global Growth Scare
% Loss	-48.2%	-12.2%
% Gain to Breakeven	92.9%	13.9%
Time to Breakeven	373 days	62 days
2014-2016 Oil Price Collapse
% Loss	-32.9%	-6.8%
% Gain to Breakeven	48.9%	7.3%
Time to Breakeven	267 days	15 days

Compare to RGA, RNR, EG, MTG, SPNT

In The Past

MGIC Investment's stock fell -8.6% during the 2025 US Tariff Shock. Such a loss loss requires a 9.5% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

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Event	MTG	S&P 500
2022 Inflation Shock & Fed Tightening
% Loss	-20.6%	-24.5%
% Gain to Breakeven	26.0%	32.4%
Time to Breakeven	49 days	427 days
2020 COVID-19 Crash
% Loss	-62.6%	-33.7%
% Gain to Breakeven	167.2%	50.9%
Time to Breakeven	279 days	140 days
Q4 2018 Fed Policy Error / Growth Scare
% Loss	-28.5%	-19.2%
% Gain to Breakeven	40.0%	23.8%
Time to Breakeven	57 days	105 days
2015-2016 China Devaluation / Global Growth Scare
% Loss	-48.2%	-12.2%
% Gain to Breakeven	92.9%	13.9%
Time to Breakeven	373 days	62 days
2014-2016 Oil Price Collapse
% Loss	-32.9%	-6.8%
% Gain to Breakeven	48.9%	7.3%
Time to Breakeven	267 days	15 days
2011 US Debt Ceiling Crisis & European Contagion
% Loss	-60.9%	-17.9%
% Gain to Breakeven	155.8%	21.8%
Time to Breakeven	99 days	123 days
2010 Eurozone Sovereign Debt Crisis / Flash Crash
% Loss	-39.9%	-15.4%
% Gain to Breakeven	66.3%	18.2%
Time to Breakeven	191 days	125 days
2008-2009 Global Financial Crisis
% Loss	-96.4%	-53.4%
% Gain to Breakeven	2678.6%	114.4%
Time to Breakeven	5487 days	1085 days

Compare to RGA, RNR, EG, MTG, SPNT

In The Past

MGIC Investment's stock fell -8.6% during the 2025 US Tariff Shock. Such a loss loss requires a 9.5% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About MGIC Investment (MTG)

Business Description Analogies Products Customers Suppliers Management Key Risks Emerging Threats Market Size Revenue Drivers Capital Allocation

MGIC Investment Corporation (MTG) is a financial services company primarily focused on providing private mortgage insurance and other mortgage credit risk management solutions. Operating across the United States, Puerto Rico, and Guam, MGIC helps mitigate the financial risks associated with residential mortgage lending for its clients.

The core offering from MGIC is primary mortgage insurance, which safeguards lenders against potential losses if a borrower defaults on an individual home loan. This insurance covers the unpaid principal, delinquent interest, and various costs related to a default and subsequent foreclosure. Beyond this, the company also offers contract underwriting services and reinsurance, further supporting the mortgage industry's risk management needs.

MGIC serves a broad spectrum of residential mortgage loan originators. Its clientele includes savings institutions, commercial banks, mortgage brokers, credit unions, and mortgage bankers, among other lenders. By providing essential risk protection, MGIC enables these entities to offer home loans more securely, ultimately facilitating access to homeownership.

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Here are 1-3 brief analogies to describe MGIC Investment (MTG):

They're like Allstate for mortgage lenders, providing insurance to protect lenders specifically against homeowners defaulting on their loans.
They're like the Fannie Mae of mortgage insurance, specializing in providing the risk coverage that helps make loans acceptable to lenders and the secondary market.

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Private Mortgage Insurance: Provides mortgage default protection on individual loans, covering unpaid principal, delinquent interest, and various foreclosure-related expenses.
Contract Underwriting Services: Offers specialized services for evaluating and approving mortgage loan applications on behalf of lenders.
Reinsurance: Provides insurance to other insurance companies, allowing them to transfer a portion of their assumed risks.

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MGIC Investment (MTG) sells primarily to other companies, specifically financial institutions and government sponsored entities involved in originating residential mortgage loans.

Due to the nature of the private mortgage insurance business, MGIC Investment serves a broad base of lenders rather than having a few publicly identified "major customers" by name. Specific customer names are not typically disclosed. However, its customer base consists of the following categories of organizations:

Savings institutions
Commercial banks
Mortgage brokers
Credit unions
Mortgage bankers
Other lenders
Government sponsored entities

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Timothy J. Mattke Chief Executive Officer

Timothy J. Mattke is the chief executive officer of MGIC Investment Corporation, having joined the company in 2006. Prior to his appointment as CEO, he served as executive vice president and chief financial officer from 2014 to 2019, and as controller from 2009 to 2014. Before joining MGIC, Mr. Mattke was an audit manager with PricewaterhouseCoopers LLP. He holds a bachelor's in business administration and an MA in accountancy from the University of Wisconsin–Madison and is a CPA.

Nathan Colson Executive Vice President, Chief Financial Officer and Chief Risk Officer

Nathan Colson is an executive vice president, the chief financial officer, and the chief risk officer of MGIC Investment Corporation. He joined the company in 2014. Before becoming CFO, he served as vice president of finance from January 2019 through July 2019 and as assistant treasurer from 2016 to 2019. Mr. Colson also held positions within MGIC's Risk Management department. Prior to joining MGIC, he was a senior audit manager with PricewaterhouseCoopers LLP. He holds a BS in accounting from Marquette University and an MBA from the University of Chicago and is a CPA.

Sal Miosi President and Chief Operating Officer

Sal Miosi is the president and chief operating officer of MGIC Investment Corporation. He has been with the company since 1988. Before his current role, he served as executive vice president of business strategies and operations from 2017 to 2019, and as senior vice president of business strategies and operations from 2015 to 2017. Mr. Miosi also held positions as vice president of marketing from 2004 to 2015, and various leadership roles in technology, sales, and marketing. He earned a BBA from the University of Wisconsin–Milwaukee and an MBA from Marquette University.

Paula Maggio Executive Vice President, General Counsel and Secretary

Paula Maggio serves as an executive vice president, the general counsel, and secretary of MGIC Investment Corporation, having joined in 2018. Prior to MGIC, Ms. Maggio held the same role for two years at Retail Properties of America, Inc., and spent 15 years in various leadership positions at Strategic Hotels & Resorts, Inc. Earlier in her career, she was in private practice with the law firm Altheimer & Gray. Ms. Maggio holds a BA and JD from the University of Illinois at Urbana–Champaign.

Danny Garcia-Velez Senior Vice President of Sales and Business Development

Danny Garcia-Velez is MGIC's senior vice president of sales and business development. He joined the company in 2017 as a senior marketing program manager. Before being appointed SVP in 2023, he served as vice president of business development. Prior to his time at MGIC, Mr. Garcia-Velez was the vice president of programs and counseling for the Homeownership Preservation Foundation (HPF). He holds a BS in urban planning from Metropolitan State University.

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The key risks to MGIC Investment's business are primarily tied to the cyclical nature of the housing market and regulatory shifts.

Key Risks to MGIC Investment (MTG)

Economic and Housing Market Volatility: MGIC's business is highly dependent on the health of the U.S. housing market and broader economic conditions. Economic downturns, fluctuations in interest rates, and declines in home prices can directly reduce the demand for private mortgage insurance and lead to increased loan delinquencies and claims. For example, elevated or rapidly rising mortgage rates compress purchase and refinance volumes, thereby reducing the demand for new mortgage insurance. An increase in overall mortgage delinquencies directly expands the pool of loans at risk of default and claims.
Regulatory and Legislative Changes: The company faces significant risks from changes in government regulations and legislation, particularly those concerning government-sponsored entities (GSEs) like Fannie Mae and Freddie Mac, as well as updates to Private Mortgage Insurer Eligibility Requirements (PMIERs). Such changes could potentially decrease revenues, increase losses, or necessitate higher capital and reserve requirements, impacting MGIC's financial performance.
Intense Competition: The private mortgage insurance industry is highly competitive, with MGIC contending with both other private insurers and government agencies. This competitive environment can lead to pricing pressures, which may adversely affect MGIC's profitability and market share.

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The addressable market for MGIC Investment's primary product, private mortgage insurance, is substantial within the regions it serves, predominantly the United States, Puerto Rico, and Guam.

The global private mortgage insurance market was approximately $6.24 billion in 2024 and is projected to reach $9.71 billion by 2029, growing at a compound annual growth rate (CAGR) of 9.5%. Another projection estimates the global market size to grow from approximately $6.1 billion in 2023 to an estimated $12.4 billion by 2032, with a CAGR of 7.9%. North America holds the largest share of the private mortgage insurance market as of 2024, with the United States being a primary driver of this market's growth.

In terms of the volume of mortgages covered, the private mortgage insurance industry in the United States insured nearly $1.6 trillion in outstanding mortgages with active private mortgage insurance coverage by the end of 2023 and 2024. Furthermore, in 2024, the U.S. private mortgage insurance industry supported approximately $300 billion in mortgage originations. While specific market revenue figures for Puerto Rico and Guam are not separately identified in the available data, these regions are part of MGIC Investment's operational scope, contributing to the broader market for private mortgage insurance.

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For MGIC Investment (MTG), a provider of private mortgage insurance, expected drivers of future revenue growth over the next 2-3 years are primarily tied to the dynamics of the housing and mortgage markets, as well as the company's strategic management of its insurance portfolio and reinsurance programs.

Here are 3-5 expected drivers of future revenue growth:

Overall Mortgage Origination Volume and Market Size: MGIC's revenue growth is heavily dependent on the total volume of new residential mortgage loans originated, as this directly translates into opportunities for new private mortgage insurance policies. While consensus forecasts suggest the mortgage insurance market in 2026 will be similar in size to 2025 with elevated mortgage rates, any growth in the overall market would positively impact MGIC's new business opportunities.
Growth in New Insurance Written (NIW) and Maintenance of Insurance in Force (IIF): Sustained writing of new mortgage insurance business is crucial for revenue growth. MGIC reported an 8% increase in new business written for the full year 2025, contributing to a 3% year-over-year growth in direct primary insurance in force to over $303 billion. Although insurance in force is expected to remain relatively flat in 2026, continued strong new insurance written is necessary to offset policies that run off and to drive long-term portfolio expansion.
Impact of Mortgage Rates on Refinance Activity and Persistency: Future changes in mortgage rates are a significant driver. A decrease in mortgage rates more substantial than currently predicted could stimulate increased refinance volumes, which would benefit the overall mortgage insurance market. However, this increased refinance activity could also be partially offset by lower persistency, meaning existing policies are paid off or terminated sooner.
Effective Management of the In-Force Portfolio and Premium Yield: The revenue generated from the existing insurance in force is a substantial component of MGIC's total revenue. Maintaining a stable in-force premium yield, which was near 38 basis points in 2025 and expected to remain so in 2026, is essential. Efficient management of this portfolio ensures consistent premium income.
Strategic Reinsurance Program Structure and Cost Management: The structure and ongoing costs of MGIC's reinsurance program directly influence net premiums earned. Renegotiations of quota share treaties, which reduced ongoing costs by approximately 40% starting in 2026, can enhance net premiums written and earned. The amount of premiums ceded under these transactions, and the associated profit commissions, directly impact the company's reported revenue.

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Share Repurchases

In 2025, MGIC Investment Corporation returned approximately $915 million in capital to shareholders, which included significant share repurchases.
The company repurchased 9.5 million shares for $262.3 million in 2025, with 6.8 million in Q4 2025 and an additional 2.7 million in January 2026.
In April 2025, MGIC's board of directors authorized a new share repurchase program, allowing the company to buy back up to $750 million of its common stock through December 31, 2027.

Share Issuance

No significant share issuances (e.g., public offerings) by MGIC Investment Corporation were identified during the last 3-5 years, with activity primarily focused on share repurchases and dividends.

Capital Expenditures

MGIC Investment Corporation has been focusing on technology and innovation spending to maintain and enhance its competitive position.
The company's investment in its Information Security Program and risk management frameworks demonstrates its commitment to leveraging technological advancements for operational efficiencies and enhanced customer experiences.

Interactive Breakdown

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Better Bets vs. MGIC Investment (MTG)

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Peer Outperformance in Reinsurance

MTG has trailed 60% of its 5 Reinsurance peers over 5Y. Reinsurance ranks 1st of 18 industries in Financials by median 5Y return. That makes it one of the strongest corners of the sector.

Share of Reinsurance constituents that MTG has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.

20%

of 5 industry peers · 4.3% return

60%

of 5 industry peers · 68.8% return

40%

of 5 industry peers · 95.1% return

No Reinsurance peer with a comparable growth profile has beaten MTG by more than 20pp over 5Y.

Median price return by industry across the Financials sector, ranked by 5Y. Reinsurance is MTG's own industry. Use this to see which corners of the sector have carried the returns.

Industry	Names	1Y med	3Y med	5Y med	Top 3 by 5Y
Reinsurance ←	6	17.9%	66.4%	114.2%	SPNT 165% · RGA 137% · RNR 133%
Investment Banking & Brokerage	13	-5.5%	94.1%	96.0%	IBKR 404% · SNEX 198% · HOOD 161%
Diversified Banks	12	29.4%	125.8%	94.2%	CM 135% · RY 123% · JPM 121%
Life & Health Insurance	20	10.6%	52.1%	83.5%	JXN 493% · UNM 276% · MFC 172%
Multi-Sector Holdings	4	4.4%	50.4%	71.2%	JONE 361% · BRK-B 81% · VOYA 61%
Property & Casualty Insurance	42	6.1%	71.8%	59.1%	ASIC 2592900% · HRTG 397% · UVE 312%
Multi-line Insurance	9	4.6%	69.4%	51.0%	GNW 129% · L 89% · AIZ 79%
Regional Banks	263	24.9%	86.1%	46.9%	GCBC 326% · ESQ 299% · NBN 246%
Financial Exchanges & Data	15	2.7%	21.5%	30.2%	VIRT 168% · CBOE 157% · CME 72%
Consumer Finance	30	4.2%	82.8%	22.9%	ENVA 394% · EZPW 288% · FCFS 163%
Asset Management & Custody Banks	82	-8.7%	18.2%	13.7%	WT 337% · SII 264% · VCTR 257%
Diversified Financial Services	4	-7.8%	17.5%	13.5%	FRHC 165% · EQH 90% · TMS -63%
Insurance Brokers	16	-22.1%	-6.6%	8.5%	LIFE 316% · ARX 89% · CRD-A 63%
Commercial & Residential Mortgage Finance	14	-51.8%	19.8%	-2.4%	FNMA 443% · FMCC 411% · ACT 176%
Specialized Finance	3	11.1%	34.0%	-11.0%	EFC 16% · CACC -11% · HASI -14%
Mortgage REITs	33	-15.6%	-0.8%	-30.7%	NREF 45% · RITM 29% · DX 19%
Transaction & Payment Processing Services	17	-4.5%	-4.7%	-39.6%	V 74% · MA 71% · CPAY 52%
Diversified Capital Markets	20	-50.6%	23.6%	-61.5%	OPY 152% · LPLA 102% · GOLD 41%

Median of constituents with a full price history over each window. Top names are unfiltered by size in this render.

Latest Trefis Analyses

	Title	Date
0	DASHBOARDS
1	Would You Still Hold MGIC Investment Stock If It Fell 30%?	10/17/2025
2	Why MGIC Investment Stock Moved: MTG Stock Has Gained 145% Since 2022 Fiscal End, Primarily Due To Favorable Change In Price To Sales Multiple (P/S)	08/08/2025
3	MGIC Investment (MTG) Valuation Ratios Comparison	08/08/2025
4	MTG Dip Buy Analysis	07/10/2025
5	MGIC Investment Total Shareholder Return (TSR): 27.4% in 2024 and 23.0% 3-yr compounded annual returns (above peer average)	03/07/2025
6	Time To Buy MGIC Investment Stock?	02/28/2025
7	MGIC Investment (MTG) Operating Cash Flow Comparison	02/17/2025
8	MGIC Investment (MTG) Net Income Comparison	02/16/2025
9	MGIC Investment vs. S&P500 Correlation	10/03/2024
10	MGIC Investment Price Volatility	09/24/2024
11	ARTICLES
12	Small Cap Stocks Trading At 52-Week High	12/19/2025

	Title
0	DASHBOARDS
1	Would You Still Hold MGIC Investment Stock If It Fell 30%?
2	Why MGIC Investment Stock Moved: MTG Stock Has Gained 145% Since 2022 Fiscal End, Primarily Due To Favorable Change In Price To Sales Multiple (P/S)
3	MGIC Investment (MTG) Valuation Ratios Comparison
4	MTG Dip Buy Analysis
5	MGIC Investment Total Shareholder Return (TSR): 27.4% in 2024 and 23.0% 3-yr compounded annual returns (above peer average)
6	Time To Buy MGIC Investment Stock?
7	MGIC Investment (MTG) Operating Cash Flow Comparison
8	MGIC Investment (MTG) Net Income Comparison
9	MGIC Investment vs. S&P500 Correlation
10	MGIC Investment Price Volatility
11	ARTICLES
12	Small Cap Stocks Trading At 52-Week High

Trade Ideas

Select ideas related to MTG.

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Recent Active Movers

Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
KLRA	Kailera Therapeutics	1.2	16.1%	-55.3%
FSLY	Fastly	4.6	15.9%	187.8%
NVAX	Novavax	2.1	15.8%	89.7%
CCI	Crown Castle	34.5	15.6%	-6.9%
DNA	Ginkgo Bioworks	0.8	14.6%	56.4%
MRNA	Moderna	89.5	14.2%	663.0%
ABSI	Absci	1.6	13.6%	191.1%
HUM	Humana	51.9	11.6%	69.9%
PRME	Prime Medicine	0.7	11.5%	15.0%
ATEX	Anterix	1.6	10.6%	287.2%

Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
GLIBK	Liberty Capital	0.8	-15.0%	-46.1%
GLIBA	Liberty Capital	0.8	-14.9%	-45.5%
ALHC	Alignment Healthcare	1.6	-13.4%	-61.8%
TMUS	T-Mobile US	160.7	-13.3%	-25.6%
PKE	Park Aerospace	0.6	-11.1%	25.8%
ASTS	AST SpaceMobile	15.2	-10.5%	-29.8%
T	AT&T	153.9	-9.8%	-6.5%
SHEN	Shenandoah Telecommunications	0.6	-9.7%	-10.0%
EOSE	Eos Energy Enterprises	0.9	-8.9%	-78.0%
VZ	Verizon Communications	173.6	-8.7%	9.1%

Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
PCRX	Pacira BioSciences	1.4	44.0%	40.3%
OPCH	Option Care Health	4.8	37.2%	-2.5%
PTC	PTC	22.3	35.0%	11.6%
PRME	Prime Medicine	0.7	33.9%	15.0%
PCVX	Vaxcyte	10.3	26.4%	54.7%
QDEL	QuidelOrtho	0.9	24.6%	-53.0%
RXO	RXO	4.9	24.4%	130.1%
PENG	Penguin Solutions	3.9	24.3%	290.0%
NVAX	Novavax	2.1	21.9%	89.7%
HPK	HighPeak Energy	1.2	21.7%	101.5%

Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
AVBP	ArriVent BioPharma	0.8	-40.8%	-16.8%
ALMR	Alamar Biosciences	1.5	-26.5%	14.9%
NUAI	New Era Energy & Digital	0.5	-25.4%	60.2%
SHAZ	SharonAI	0.7	-25.3%	-59.0%
ANGO	AngioDynamics	0.5	-23.8%	-10.3%
GLAS	Glass House Brands	0.4	-22.4%	-51.9%
EOSE	Eos Energy Enterprises	0.9	-21.5%	-78.0%
AEHR	Aehr Test Systems	2.7	-21.1%	319.2%
YSS	York Space Systems	0.9	-20.8%	-78.8%
AXTI	AXT	4.2	-20.3%	318.7%

Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
MYPS	PLAYSTUDIOS	0.5	740.5%	530.4%
KOD	Kodiak Sciences	6.3	203.8%	257.2%
DNA	Ginkgo Bioworks	0.8	91.7%	56.4%
PACB	Pacific Biosciences of California	0.7	83.5%	24.6%
GRAL	GRAIL	6.1	81.3%	64.2%
IOVA	Iovance Biotherapeutics	6.6	79.6%	435.5%
SECZ	Securitize	2.0	71.9%	12.4%
MRNA	Moderna	89.5	64.7%	663.0%
P	Everpure	51.4	64.2%	130.7%
PENG	Penguin Solutions	3.9	56.9%	290.0%

Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
CTVA	Corteva	8.9	-84.3%	-80.1%
LQDA	Liquidia	2.4	-59.6%	-20.6%
XNDU	Xanadu Quantum Technologies	1.2	-56.6%	-66.1%
QURE	uniQure	1.5	-49.2%	-5.6%
EMAT	Evolution Metals & Technologies	1.0	-46.8%	-92.3%
GLAS	Glass House Brands	0.4	-46.6%	-51.9%
NKTR	Nektar Therapeutics	1.4	-41.7%	-2.6%
AVBP	ArriVent BioPharma	0.8	-41.7%	-16.8%
ALHC	Alignment Healthcare	1.6	-40.9%	-61.8%
ABR	Arbor Realty Trust	0.5	-40.3%	-59.2%

Peer Comparisons

Peers to compare with:

Financials

	MTG	RGA	RNR	EG	SPNT	Median
Name	MGIC Inv.	Reinsura.	Renaissa.	Everest	SiriusPo.
Mkt Price	27.43	256.08	331.52	365.64	24.96	256.08
Mkt Cap	5.8	16.6	13.7	14.2	2.9	13.7
Rev LTM	1,196	25,878	11,063	16,435	3,238	11,063
Op Inc LTM	-	-	-	-	-	-
FCF LTM	706	5,199	3,606	2,000	266	2,000
FCF 3Y Avg	731	6,345	3,561	3,786	230	3,561
CFO LTM	708	5,199	3,606	2,000	266	2,000
CFO 3Y Avg	732	6,348	3,561	3,786	230	3,561

Growth & Margins

	MTG	RGA	RNR	EG	SPNT	Median
Name	MGIC Inv.	Reinsura.	Renaissa.	Everest	SiriusPo.
Rev Chg LTM	-1.9%	19.5%	-14.1%	-6.2%	22.4%	-1.9%
Rev Chg 3Y Avg	1.0%	16.3%	17.1%	7.9%	7.7%	7.9%
Rev Chg Q	-2.9%	18.2%	-13.7%	-11.2%	2.0%	-2.9%
QoQ Delta Rev Chg LTM	-0.7%	4.1%	-3.8%	-2.9%	0.4%	-0.7%
Op Inc Chg LTM	-	-	-	-	-	-
Op Inc Chg 3Y Avg	-	-	-	-	-	-
Op Mgn LTM	-	-	-	-	-	-
Op Mgn 3Y Avg	-	-	-	-	-	-
QoQ Delta Op Mgn LTM	-	-	-	-	-	-
CFO/Rev LTM	59.2%	20.1%	32.6%	12.2%	8.2%	20.1%
CFO/Rev 3Y Avg	61.1%	28.3%	31.1%	22.9%	7.9%	28.3%
FCF/Rev LTM	59.1%	20.1%	32.6%	12.2%	8.2%	20.1%
FCF/Rev 3Y Avg	61.0%	28.2%	31.1%	22.9%	7.9%	28.2%

Valuation

	MTG	RGA	RNR	EG	SPNT	Median
Name	MGIC Inv.	Reinsura.	Renaissa.	Everest	SiriusPo.
Mkt Cap	5.8	16.6	13.7	14.2	2.9	13.7
P/S	4.8	0.6	1.2	0.9	0.9	0.9
P/Op Inc	-	-	-	-	-	-
P/EBIT	6.3	7.3	3.0	5.9	4.3	5.9
P/E	8.1	11.0	5.2	7.4	5.8	7.4
P/CFO	8.1	3.2	3.8	7.1	11.0	7.1
Total Yield	14.6%	10.5%	19.7%	15.7%	17.4%	15.7%
Dividend Yield	2.3%	1.5%	0.5%	2.3%	0.0%	1.5%
FCF Yield 3Y Avg	12.0%	47.0%	29.7%	24.6%	9.7%	24.6%
D/E	0.1	0.3	0.2	0.3	0.2	0.2
Net D/E	-0.9	-0.8	-0.8	-1.1	-0.8	-0.8

Returns

	MTG	RGA	RNR	EG	SPNT	Median
Name	MGIC Inv.	Reinsura.	Renaissa.	Everest	SiriusPo.
1M Rtn	-11.1%	4.5%	2.9%	-0.6%	2.9%	2.9%
3M Rtn	-2.0%	11.2%	5.4%	-0.8%	1.3%	1.3%
6M Rtn	2.0%	25.9%	9.7%	12.1%	9.3%	9.7%
12M Rtn	4.3%	33.8%	28.5%	6.5%	34.9%	28.5%
3Y Rtn	68.8%	86.4%	64.0%	1.3%	149.1%	68.8%
1M Excs Rtn	-14.0%	0.6%	-1.2%	-4.3%	-0.4%	-1.2%
3M Excs Rtn	-6.9%	4.1%	-0.4%	-6.6%	-4.8%	-4.8%
6M Excs Rtn	-12.6%	11.3%	-4.9%	-2.4%	-5.3%	-4.9%
12M Excs Rtn	-11.7%	16.5%	11.5%	-11.5%	20.7%	11.5%
3Y Excs Rtn	-8.8%	6.4%	-16.4%	-81.3%	54.7%	-8.8%

FDIC Bank Data

Bank Capital

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Bank Deposits

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Bank Assets

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Bank Loans

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FDA Approved Drugs Data

Expand for Morenull

Clinical Pipeline

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Financials

Annual
Quarterly

$ Mil \| FY: 12/31	LTM	2025	2024	2023	2022	2021	2020
Period End	6/30/2026	12/31/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020
Filing Date	7/29/2026	2/25/2026	2/26/2025	2/21/2024	2/22/2023	2/23/2022	2/23/2021
Key Financials
Total Revenue	1,196	1,214	1,208	1,155	1,173	1,186	1,199
Net Income	708	738	763	713	865	635	446
EPS	3.22	3.17	2.92	2.51	2.83	1.90	1.31
Growth Rates
Total Revenue Growth	-1.9%	0.5%	4.6%	-1.5%	-1.1%	-1.1%	-1.2%
Net Income Growth	-7.2%	-3.2%	7.0%	-17.6%	36.3%	42.3%	-33.8%
Margins
Net Income Margin	59.2%	60.8%	63.2%	61.7%	73.8%	53.6%	37.2%
Cash & Debt
Total Cash	5,908	6,160	6,081	6,087	5,737	6,872	6,950
Total Debt	647	646	645	643	663	1,147	1,243
Net Debt / (Cash)	-5,261	-5,514	-5,437	-5,444	-5,074	-5,726	-5,706
Cash Flows & CapEx
Net Cash from Operations	708	853	725	713	650	696	732
Total CapEx	-2	-1	-1	-2	-3	-4	-3
Free Cash from Operations	706	852	724	711	647	692	729
Returns to Shareholders
Dividends	135	132	130	123	111	94	82
Share Repurchases	754	789	569	337	386	291	120

$ Mil \| FY: 12/31	2026Q2	2026Q1	2025Q4	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3
Period End	6/30/2026	3/31/2026	12/31/2025	9/30/2025	6/30/2025	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023
Filing Date	7/29/2026	4/29/2026	2/25/2026	10/29/2025	7/30/2025	4/30/2025	2/26/2025	11/4/2024	7/31/2024	5/1/2024	2/21/2024	10/31/2023
Key Financials Quarterly
Total Revenue	295	297	299	305	304	306	301	307	305	294	284	297
Net Income	182	165	169	191	192	185	185	200	204	174	185	183
EPS	0.87	0.76	0.76	0.83	0.81	0.76	0.73	0.77	0.77	0.64	0.67	0.65
Key Financials TTM
Total Revenue TTM	1,196	1,204	1,214	1,216	1,219	1,220	1,208	1,190	1,180	1,165	1,155	1,163
Net Income TTM	708	718	738	754	763	774	763	763	746	732	713	720
Growth Rates Quarterly
Total Revenue Growth	-2.9%	-3.0%	-0.9%	-0.7%	-0.3%	4.0%	6.2%	3.4%	5.0%	3.7%	-2.8%	1.3%
Net Income Growth	-5.4%	-10.9%	-8.3%	-4.4%	-5.8%	6.5%	0.1%	9.4%	6.9%	12.6%	-3.6%	-26.8%
Margins Quarterly
Net Income Margin	61.7%	55.6%	56.7%	62.8%	63.3%	60.6%	61.3%	65.2%	66.9%	59.1%	65.0%	61.7%
Cash & Debt
Total Cash	5,908	5,938	6,160	6,135	6,097	6,092	6,081	6,253	6,072	6,104	6,087	1,972
Total Debt	647	647	646	646	645	645	645	644	644	644	643	643
Net Debt / (Cash)	-5,261	-5,292	-5,514	-5,490	-5,452	-5,447	-5,437	-5,608	-5,428	-5,460	-5,444	-1,329
Cash Flows Quarterly
FCF from Operations	185	77	231	215	183	224	182	183	169	191	186	170
Cash Flows TTM
FCF from Operations TTM	708	706	853	804	772	758	725	729	716	691	713	693
Returns to Shareholders Quarterly
Dividends	32	35	33	34	31	34	33	34	31	33	32	32
Share Repurchases	185	192	189	188	186	225	195	124	156	95	120	67
Return on Invested Capital (ROIC) Quarterly
ROIC	-	-	-	-	-	-	-	-	-	-	-	-
Return on Invested Capital (ROIC) TTM
ROIC TTM	-	-	-	-	-	-	-	-	-	-	-	-

Segment Financials

Revenue by Segment

$ Mil	2025	2024	2023	2022	2021
Mortgage Insurance	1,214	1,208	1,155	1,173	1,186
Total	1,214	1,208	1,155	1,173	1,186

Price Behavior

Price Behavior

Market Price	$27.43
Market Cap ($ Bil)	5.8
First Trading Date	08/07/1991
Distance from 52W High	-12.8%
	50 Days	200 Days
DMA Price	$29.83	$27.60
DMA Trend	indeterminate	up
Distance from DMA	-8.0%	-0.6%
	3M	1YR
Volatility	26.0%	25.0%
Downside Capture	88.36	19.59
Upside Capture	63.34	20.85
Correlation (SPY)	12.0%	7.9%

MTG Betas & Captures as of 9/30/2026

	1M	2M	3M	6M	1Y	3Y
Beta	0.56	0.71	0.23	-0.01	0.14	0.61
Up Beta	-0.50	0.41	-0.19	0.10	0.34	0.71
Down Beta	-2.76	-1.37	-1.04	-0.63	-0.15	0.60
Up Capture	19%	50%	41%	8%	8%	27%
Bmk +ve Days	6	16	27	66	132	424
Stock +ve Days	8	20	29	64	128	410
Down Capture	282%	199%	99%	19%	32%	76%
Bmk -ve Days	16	26	37	60	120	328
Stock -ve Days	14	22	34	60	119	334

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Based On 1-Year Data

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with MTG
MTG	4.0%	24.9%	0.11	-
Sector ETF (XLF)	3.5%	14.8%	0.01	41.2%
Equity (SPY)	16.7%	13.0%	0.91	7.5%
Gold (GLD)	3.3%	29.5%	0.11	-9.2%
Commodities (DBC)	44.8%	20.9%	1.67	-19.5%
Real Estate (VNQ)	4.8%	13.8%	0.09	26.6%
Bitcoin (BTCUSD)	-33.8%	44.2%	-0.81	-6.5%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Based On 5-Year Data

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with MTG
MTG	14.8%	25.3%	0.52	-
Sector ETF (XLF)	9.3%	18.3%	0.37	65.7%
Equity (SPY)	13.9%	17.1%	0.62	51.7%
Gold (GLD)	18.5%	18.9%	0.79	-2.1%
Commodities (DBC)	10.0%	19.6%	0.39	4.1%
Real Estate (VNQ)	1.3%	18.8%	-0.04	52.7%
Bitcoin (BTCUSD)	11.2%	52.0%	0.39	22.2%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Based On 10-Year Data

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with MTG
MTG	15.1%	37.1%	0.49	-
Sector ETF (XLF)	13.2%	22.1%	0.54	65.4%
Equity (SPY)	15.5%	17.9%	0.73	53.4%
Gold (GLD)	11.8%	16.4%	0.59	-1.5%
Commodities (DBC)	8.2%	18.1%	0.37	16.9%
Real Estate (VNQ)	4.5%	20.7%	0.18	53.5%
Bitcoin (BTCUSD)	63.3%	66.2%	1.03	14.1%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date	9152026
Short Interest: Shares Quantity	8.5 Mil
Short Interest: % Change Since 8312026	5.3%
Average Daily Volume	1.9 Mil
Days-to-Cover Short Interest	4.6 days
Basic Shares Quantity	209.9 Mil
Short % of Basic Shares	4.0%

Returns Analyses

	Title
0	Would You Still Hold MGIC Investment Stock If It Fell 30%?

Earnings Returns History

Updated 8/31/2026

Expand for More

	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
7/29/2026	-0.4%	0.6%	2.2%
4/29/2026	-9.1%	-8.9%	-12.9%
2/2/2026	-5.2%	-3.4%	-1.8%
10/29/2025	4.3%	6.5%	8.8%
7/30/2025	2.1%	6.5%	9.7%
4/30/2025	1.6%	5.2%	6.7%
2/3/2025	1.8%	-0.5%	-5.1%
11/4/2024	1.4%	6.5%	9.5%
...
SUMMARY STATS
# Positive	14	14	15
# Negative	11	11	10
Median Positive	1.7%	5.8%	6.7%
Median Negative	-2.5%	-3.6%	-2.3%
Max Positive	4.4%	9.7%	16.4%
Max Negative	-9.1%	-10.7%	-12.9%

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	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
7/29/2026	-0.4%	0.6%	2.2%
4/29/2026	-9.1%	-8.9%	-12.9%
2/2/2026	-5.2%	-3.4%	-1.8%
10/29/2025	4.3%	6.5%	8.8%
7/30/2025	2.1%	6.5%	9.7%
4/30/2025	1.6%	5.2%	6.7%
2/3/2025	1.8%	-0.5%	-5.1%
11/4/2024	1.4%	6.5%	9.5%
7/31/2024	-1.3%	-5.7%	1.9%
5/1/2024	-0.2%	2.2%	2.7%
1/31/2024	0.7%	-3.9%	0.5%
10/31/2023	0.5%	4.6%	5.1%
8/2/2023	4.4%	7.5%	4.7%
5/3/2023	-1.3%	1.4%	7.6%
2/1/2023	0.4%	-1.9%	-1.6%
11/2/2022	-0.7%	-1.1%	-0.7%
8/3/2022	1.9%	3.9%	-1.4%
5/4/2022	-2.5%	-5.4%	0.4%
2/2/2022	0.4%	4.9%	-3.1%
11/3/2021	-4.0%	-3.6%	-11.0%
8/4/2021	3.8%	9.6%	13.8%
5/5/2021	-5.4%	-10.7%	-1.4%
2/23/2021	0.6%	-1.4%	-2.9%
11/4/2020	-4.8%	7.0%	16.4%
8/4/2020	2.2%	9.7%	16.1%
SUMMARY STATS
# Positive	14	14	15
# Negative	11	11	10
Median Positive	1.7%	5.8%	6.7%
Median Negative	-2.5%	-3.6%	-2.3%
Max Positive	4.4%	9.7%	16.4%
Max Negative	-9.1%	-10.7%	-12.9%

SEC Filings

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Report Date	Filing Date	Filing
06/30/2026	07/29/2026	10-Q
03/31/2026	04/29/2026	10-Q
12/31/2025	02/25/2026	10-K
09/30/2025	10/29/2025	10-Q
06/30/2025	07/30/2025	10-Q
03/31/2025	04/30/2025	10-Q
12/31/2024	02/26/2025	10-K
09/30/2024	11/04/2024	10-Q
06/30/2024	07/31/2024	10-Q
03/31/2024	05/01/2024	10-Q
12/31/2023	02/21/2024	10-K
09/30/2023	10/31/2023	10-Q
06/30/2023	08/02/2023	10-Q
03/31/2023	05/03/2023	10-Q
12/31/2022	02/22/2023	10-K
09/30/2022	11/02/2022	10-Q

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Report Date	Filing Date	Filing
06/30/2026	07/29/2026	10-Q
03/31/2026	04/29/2026	10-Q
12/31/2025	02/25/2026	10-K
09/30/2025	10/29/2025	10-Q
06/30/2025	07/30/2025	10-Q
03/31/2025	04/30/2025	10-Q
12/31/2024	02/26/2025	10-K
09/30/2024	11/04/2024	10-Q
06/30/2024	07/31/2024	10-Q
03/31/2024	05/01/2024	10-Q
12/31/2023	02/21/2024	10-K
09/30/2023	10/31/2023	10-Q
06/30/2023	08/02/2023	10-Q
03/31/2023	05/03/2023	10-Q
12/31/2022	02/22/2023	10-K
09/30/2022	11/02/2022	10-Q
06/30/2022	08/03/2022	10-Q
03/31/2022	05/04/2022	10-Q
12/31/2021	02/23/2022	10-K
09/30/2021	11/03/2021	10-Q
06/30/2021	08/04/2021	10-Q
03/31/2021	05/05/2021	10-Q
12/31/2020	02/23/2021	10-K
09/30/2020	11/04/2020	10-Q
06/30/2020	08/04/2020	10-Q
03/31/2020	05/07/2020	10-Q
12/31/2019	02/24/2020	10-K
09/30/2019	11/06/2019	10-Q

Recent Forward Guidance

Updated 10/4/2026

Latest: Q2 2026 Earnings Reported 7/29/2026

Forward Guidance					Guidance Change
Metric	Source	Low	Mid	High	% Chg	% Delta	Change	Prior
2027 Reinsurance Coverage	Reported		168.00 Mil
2028 Share Repurchases	Reported		750.00 Mil		0		Affirmed	Guidance: 750.00 Mil for 2028

Prior: Q1 2026 Earnings Reported 4/29/2026

Forward Guidance					Guidance Change
Metric	Source	Low	Mid	High	% Chg	% Delta	Change	Prior
Q2 2026 Dividends	Reported		0.15
2028 Share Repurchases	Reported		750.00 Mil

Q4 2025 Earnings Reported 2/2/2026

Forward Guidance					Guidance Change
Metric	Source	Low	Mid	High	% Chg	% Delta	Change	Prior
2026 Operating Expenses	Reported	260.00 Mil	265.00 Mil	270.00 Mil
2026 Effective Tax Rate	Reported	20.0%	21.0%	22.0%
2026 Capital Expenditures	Reported	15.00 Mil	17.50 Mil	20.00 Mil

Q3 2025 Earnings Reported 10/29/2025

Forward Guidance					Guidance Change
Metric	Source	Low	Mid	High	% Chg	% Delta	Change	Prior
2025 Quota Share Cede Rate	Reported		0.28
2025 Reinsurance Coverage	Reported		250.00 Mil
2027 Quota Share Reinsurance Transaction	Reported		0.4

Insider Activity

Updated 10/2/2026

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#	Owner	Title	Holding	Action	Filing Date	Price	Shares	Transacted Value	Value of Held Shares	Form
1	Miosi, Salvatore A	President & COO	Direct	Sell	10022026	26.06	30,000	781,800	11,491,192	Form
2	Mattke, Timothy J	Chief Executive Officer	Direct	Sell	10022026	26.23	137,114	3,597,186	22,136,526	Form
3	Colson, Nathaniel H	Officer EVP, CFO & CRO	Direct	Sell	9252026	29.48	20,000	589,600	9,469,742	Form
4	Miosi, Salvatore A	President & COO	Direct	Sell	9022026	30.73	30,000	921,900	14,472,335	Form
5	Maggio, Paula C	EVP and General Counsel	Direct	Sell	8102026	30.30	20,000	606,000	4,533,476	Form

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#	Owner	Title	Holding	Action	Filing Date	Price	Shares	Transacted Value	Value of Held Shares	Form
1	Miosi, Salvatore A	President & COO	Direct	Sell	10022026	26.06	30,000	781,800	11,491,192	Form
2	Mattke, Timothy J	Chief Executive Officer	Direct	Sell	10022026	26.23	137,114	3,597,186	22,136,526	Form
3	Colson, Nathaniel H	Officer EVP, CFO & CRO	Direct	Sell	9252026	29.48	20,000	589,600	9,469,742	Form
4	Miosi, Salvatore A	President & COO	Direct	Sell	9022026	30.73	30,000	921,900	14,472,335	Form
5	Maggio, Paula C	EVP and General Counsel	Direct	Sell	8102026	30.30	20,000	606,000	4,533,476	Form
6	Mattke, Timothy J	Chief Executive Officer	Direct	Sell	8062026	30.52	137,113	4,184,277	29,933,893	Form
7	Miosi, Salvatore A	President & COO	Direct	Sell	8042026	29.70	30,000	891,000	14,878,255	Form
8	Miosi, Salvatore A	President & COO	Direct	Sell	7022026	28.23	30,000	846,900	14,988,757	Form
9	Colson, Nathaniel H	Officer EVP, CFO & CRO	Direct	Sell	6262026	27.10	20,000	542,000	9,247,224	Form
10	Miosi, Salvatore A	President & COO	Direct	Sell	6092026	25.38	30,000	761,400	14,236,946	Form
11	Maggio, Paula C	EVP and General Counsel	Direct	Sell	6012026	25.55	20,937	534,940	4,333,783	Form
12	Mattke, Timothy J	Chief Executive Officer	Direct	Sell	4032026	26.49	139,202	3,687,879	29,619,317	Form
13	Miosi, Salvatore A	President & COO	Direct	Sell	4022026	26.25	10,931	286,982	15,514,837	Form
14	Miosi, Salvatore A	President & COO	Direct	Sell	3032026	27.04	30,000	811,050	19,768,083	Form
15	Maggio, Paula C	EVP and General Counsel	Direct	Sell	2092026	27.51	20,000	550,160	3,154,856	Form
16	Miosi, Salvatore A	President & COO	Direct	Sell	2032026	27.27	30,000	817,980	12,385,454	Form
17	Mattke, Timothy J	Chief Executive Officer	Direct	Sell	1142026	26.51	139,203	3,689,850	21,804,326	Form
18	Miosi, Salvatore A	President & COO	Direct	Sell	1052026	29.13	30,000	873,960	2,895,760	Form
19	Miosi, Salvatore A	President & COO	Direct	Sell	12022025	28.40	30,000	852,030	3,675,128	Form
20	Miosi, Salvatore A	President & COO	Direct	Sell	11042025	27.52	30,000	825,600	4,386,725	Form
21	Maggio, Paula C	EVP and General Counsel	Direct	Sell	11032025	27.44	20,000	548,820	3,221,427	Form
22	Mattke, Timothy J	Chief Executive Officer	Direct	Sell	10082025	27.09	139,203	3,771,677	26,059,546	Form
23	Miosi, Salvatore A	President & COO	Direct	Sell	10022025	28.15	30,000	844,632	5,332,482	Form

Investor Activity (13F)

Updated Oct 10, 2026

13F holdings as of Mar 31, 2026 (Q1 2026)

Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.

Active Manager	Value	% of Portfolio	Total Positions	QoQ	Filing
Permit Capital, LLC	$9.0 Mil	3.0%	19	Hold	13F

Active Manager

Active Manager

Active Manager	Value	% of Portfolio	Total Positions	QoQ	Filing
Permit Capital, LLC	$9.0 Mil	3.0%	19	Hold	13F

MTG Trade Sentinel

Stock Conviction

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CONVICTION RATIONALE

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STOCK ARCHETYPE

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Looking for high-conviction positions with a better risk/reward profile? See what's currently in the Trefis High Quality Portfolio.

INVESTMENT THESIS

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Mechanism: null

Supporting Evidence:

PRIMARY RISK

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Mechanism: null

Supporting Evidence:

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0 / 12

1 Price Structure & Trend · ▾

2 Momentum ▾

3 Relative Strength vs. SPY ▾

4 Institutional Footprint & Volume ▾

5 Volatility ▾

6 Key Price Levels Range · Vol ▾

7 Earnings Reaction History ▾

8 How the Verdict Is Derived Three Pillars ▾

Pillar	Score
① Structure	0
② Vol / Mom	0
③ Catalyst	0

ℹ Bull Pillars: 0 · Bear Pillars: 0 · Combined Score: 0 →

MGIC Investment — Investor Video Playlist

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MGIC · 2024-03-15

Products & Services

Analyzing self-employed income: Cash flow analysis

MGIC · 2023-11-15

Industry Resources

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Federal Reserve Economic Data

Reinsurance Resources

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1	TradingView	Morningstar
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5	MarketWatch	Unusual Whales
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Core Cache Last Updated: 10/9/2026

MGIC Investment (MTG)

Market Price (10/10/2026): $27.43 | Market Cap: $5.8 BilSector: Financials | Industry: Reinsurance

MGIC Investment (MTG)

Market Price (10/10/2026): $27.43Market Cap: $5.8 BilSector: FinancialsIndustry: Reinsurance

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

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Market Price (10/10/2026): $27.43
Market Cap: $5.8 Bil
Sector: Financials
Industry: Reinsurance