Entering text into the input field will update the search result below

MGIC bull: Credit improvement is the story

Oct. 15, 2015 11:12 AM ETMGIC Investment Corporation (MTG) StockMTG, RDNBy: Stephen Alpher, SA News Editor
  • A loud profit number thanks to the DTA reversal and a big jump in new insurance written make for good headlines from MGIC Investment's (MTG +3.4%) earnings results this morning, says BTIG's Mark Palmer, but both had been expected.
  • The real story, he says, is the continuation in credit improvement - a 15.1% sequential decrease in losses to $76.5M, and a 19 basis point drop in the delinquency rate to 5.29%.
  • Over time, the next catalyst will be NIW growth as Uncle Sam cedes more of the mortgage insurance market to private insurers.
  • He reiterates his Buy rating, with $12 price target 20% above the current level.
  • Up in concert with MGIC is Radian (RDN +1%).
  • Previously: MGIC Investment up big after strong quarter (Oct. 15)
  • Previously: MGIC Investment beats by $0.08, beats on revenue (Oct. 15)

Recommended For You

More Trending News

About MTG Stock

SymbolLast Price% Chg
Market Cap
PE
Yield (TTM)
Rev Growth (YoY)
Prev. Close
Compare to Peers

Related Stocks

SymbolLast Price% Chg
MTG--
MGIC Investment Corporation