We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
MGIC Investment Posts Solid November Results; Shares Gain
Read MoreHide Full Article
MGIC Investment Corp. (MTG - Free Report) recently announced its Nov 2016 operating business statistics. Shares of the company hit a new 52-week high of $9.83 to finally close at $9.79 on Dec, gaining 2.84% during the trading session.
Insurance in force for Nov 2016 was $181.3 billion, up 4.4% year over year. Delinquency loans (loans that failed to pay back) at MGIC Investment declined on a year-over-year basis. Delinquent inventory for the month under review was 50,136, down 19.7% year over year.
MGIC Investment was severely affected by the 2008 financial crisis. However, the company is steadily recovering owing to declining delinquencies and improving cure rates on claims from its legacy business. The prospects of the company also look bright in terms of growing book of high-credit-quality business written since 2009.
MGIC Investment has been witnessing an increase in new business written owing to larger origination volume as well as an increase in the private mortgage insurance industry’s market share. The company now expects to write $46 billion of new insurance in 2016 with insurance in force increasing 4–5% in 2016. Further, positive credit trends, low expense ratio are tailwinds for the company.
Shares of this Zacks Rank #3 (Hold) multiline line insurer gained 19%, outperforming the Zacks categorized Multiline Insurance industry’s increase of 17.1%. We expect improving housing market and declining delinquency to boost the company’s earnings in the coming quarters and help the shares retain momentum.
AEGON provides of life insurance, pensions, and asset management services. Shares of the company gained 47.9%, outperforming the industry.
FBL Financial sells annuity and individual life insurance products. Its shares gained 23.26%, outperforming the industry.
AXIS Capital provides specialty lines insurance and treaty reinsurance products worldwide. Shares of the insurer gained 15.8%, outperforming the industry.
The Best Place to Start Your Stock Search
Today, you are invited to download the full list of 220 Zacks Rank #1 "Strong Buy" stocks – absolutely free of charge. Since 1988, Zacks Rank #1 stocks have nearly tripled the market, with average gains of +26% per year. Plus, you can access the list of portfolio-killing Zacks Rank #5 "Strong Sells" and other private research. See these stocks free>>
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
MGIC Investment Posts Solid November Results; Shares Gain
MGIC Investment Corp. (MTG - Free Report) recently announced its Nov 2016 operating business statistics. Shares of the company hit a new 52-week high of $9.83 to finally close at $9.79 on Dec, gaining 2.84% during the trading session.
Insurance in force for Nov 2016 was $181.3 billion, up 4.4% year over year. Delinquency loans (loans that failed to pay back) at MGIC Investment declined on a year-over-year basis. Delinquent inventory for the month under review was 50,136, down 19.7% year over year.
MGIC Investment was severely affected by the 2008 financial crisis. However, the company is steadily recovering owing to declining delinquencies and improving cure rates on claims from its legacy business. The prospects of the company also look bright in terms of growing book of high-credit-quality business written since 2009.
MGIC Investment has been witnessing an increase in new business written owing to larger origination volume as well as an increase in the private mortgage insurance industry’s market share. The company now expects to write $46 billion of new insurance in 2016 with insurance in force increasing 4–5% in 2016. Further, positive credit trends, low expense ratio are tailwinds for the company.
Shares of this Zacks Rank #3 (Hold) multiline line insurer gained 19%, outperforming the Zacks categorized Multiline Insurance industry’s increase of 17.1%. We expect improving housing market and declining delinquency to boost the company’s earnings in the coming quarters and help the shares retain momentum.
Stocks to Consider
Some better-ranked insurers are AEGON N.V. (AEG - Free Report) , FBL Financial Group, Inc. and AXIS Capital Holdings Limited (AXS - Free Report) . Each of these carry Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
AEGON provides of life insurance, pensions, and asset management services. Shares of the company gained 47.9%, outperforming the industry.
FBL Financial sells annuity and individual life insurance products. Its shares gained 23.26%, outperforming the industry.
AXIS Capital provides specialty lines insurance and treaty reinsurance products worldwide. Shares of the insurer gained 15.8%, outperforming the industry.
The Best Place to Start Your Stock Search
Today, you are invited to download the full list of 220 Zacks Rank #1 "Strong Buy" stocks – absolutely free of charge. Since 1988, Zacks Rank #1 stocks have nearly tripled the market, with average gains of +26% per year. Plus, you can access the list of portfolio-killing Zacks Rank #5 "Strong Sells" and other private research. See these stocks free>>