Overview

* MGIC Q3 net income falls 4.4% yr/yr, but net income per share rises to $0.83

* Company repurchased 7 mln shares for $187.9 mln, paid $0.15 dividend per share

* Adjusted net operating income decreases yr/yr, reflecting changes in reinsurance agreements

Outlook

* MGIC agrees to terms on $250 mln reinsurance coverage effective December 1, 2025

* MGIC declares dividend of $0.15 per share payable November 20, 2025

Result Drivers

* REINSURANCE CHANGES - Adjusted net operating income decreased yr/yr, reflecting changes in reinsurance agreements

* SHARE REPURCHASES - Net income per share rose to $0.83, aided by the repurchase of 7 mln shares for $187.9 mln

* LOSS INCURRED - Losses incurred increased to $10.9 mln, impacting overall profitability

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Net $191.10

Income mln

Q3 $190.79

Adjusted mln

Operatin

g Income

Q3 $0.15

Dividend

Analyst Coverage

* The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 4 "hold" and 1 "sell" or "strong sell"

* The average consensus recommendation for the property & casualty insurance peer group is "buy."

* Wall Street's median 12-month price target for MGIC Investment Corp ( MTG ) is $27.50, about 2.7% above its October 28 closing price of $26.77

* The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 9 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)