MGIC Investment Corporation (MTG) Stock Price & How to Invest
Last updated July 2026
Short answer
You can invest in MGIC Investment Corp (NYSE: MTG) by buying shares or fractional shares at any major broker, through a financials or insurance ETF that holds it, or as one holding in a thematic basket. MGIC is the largest U.S. private mortgage insurer, earning recurring premium income from a large insurance-in-force portfolio, and the investment picture centers on steady underwriting profits, a low valuation, and heavy capital return balanced against its sensitivity to the housing and credit cycle.
MTG stock price
As of 2026-07-22, MGIC Investment Corporation (MTG) last closed at $28.93, up 12.5% over the past year. Over the past 52 weeks it has traded between $24.86 and $29.86.
Prices are daily closing prices from Yahoo Finance and may be delayed. For the live quote, check your broker or MGIC Investment Corporation's investor relations page. Walnut is informational, not investment advice.
What does MGIC Investment Corporation (MTG) do?
MGIC Investment Corporation (NYSE: MTG) is the holding company for Mortgage Guaranty Insurance Corporation, one of the largest private mortgage insurers in the United States. Private mortgage insurance protects lenders and investors against losses when borrowers with high loan-to-value mortgages (typically less than a 20% down payment) default, which lets more people buy homes with smaller down payments. MGIC earns recurring premium income from its large insurance-in-force portfolio (roughly $303 billion as of early 2026), and policies generally stay in force until borrowers refinance, sell, or build enough equity to cancel coverage. It remained the No. 1 private mortgage insurer by market share heading into 2026.
The investment picture combines high current profitability with cyclical exposure. MGIC produces mid-teens returns on equity, trades at a low earnings multiple and around book value, and returns large amounts of capital through share buybacks and a rising dividend, backed by strong capital levels well inside regulatory limits. The counterweight is that its core business is tied to the health of the housing market and employment: in a serious downturn, delinquencies and claims can rise quickly, as the 2008 crisis showed. The stock therefore tends to behave like a well-capitalized but economically sensitive specialty insurer.
What's driving MGIC Investment Corporation (MTG)?
1. Recurring premium from insurance-in-force
MGIC's earnings are driven by premiums on a large, sticky insurance-in-force base that grew about 3% year over year to roughly $303 billion in early 2026. Because policies persist for years, this base provides a relatively predictable revenue stream even when new mortgage origination volume slows.
2. Aggressive capital return
The board authorized a new $750 million share repurchase program running through the end of 2028 and raised the quarterly dividend to $0.15 per share. Steady buybacks shrink the share count and support book value per share, which rose about 10% year over year to roughly $24.
3. Benign credit and strong balance sheet
Q1 2026 showed favorable loss-reserve development (about $31 million) driven by higher-than-expected cure rates on prior delinquency notices. MGIC's risk-to-capital ratio of about 9.6-to-1 is less than half the 25-to-1 statutory maximum, giving it substantial cushion and flexibility for capital return.
4. Market-share leadership
MGIC held the top position among the six approved private mortgage insurers, an industry with high, stable concentration. New insurance written jumped meaningfully year over year in early 2026, reflecting competitive pricing and established lender relationships.
What are the risks to MGIC Investment Corporation (MTG)?
MGIC's core business is highly dependent on the housing market and employment, so its main structural risk is the credit cycle. If unemployment rises or home values fall, delinquencies and insurance claims can increase quickly, pressuring earnings and capital. As mortgage originations and refinancing activity stay subdued, growth in insurance in force and premiums earned can slow, and net premiums earned already declined year over year in Q1 2026. Housing affordability remains a persistent headwind to new business volume. Competition on pricing among the six major insurers, plus regulatory and capital-requirement changes, adds further uncertainty.
How is MGIC Investment Corporation (MTG) valued? (approximate, JULY 2026)
A simple financial snapshot. These are approximations and refresh quarterly; for current figures see MGIC Investment Corporation's investor relations page or your broker.
- Revenue (TTM): ~$1.2B
- Net income (TTM): ~$738M
- Q1 2026 net income: ~$165M ($0.76/sh)
- Market cap: ~$5.6B
- P/E ratio: ~8-9x
- Dividend yield: ~2%
MGIC trades at a low single-digit-to-high-single-digit earnings multiple and near book value (book value per share around $24), reflecting the market's discount for cyclical mortgage-insurance earnings. Q1 2026 delivered net income of about $165 million and an annualized return on equity near 13%, with revenue of about $297 million that slightly missed estimates as net premiums earned edged down year over year. Valuation figures are approximate and move with the stock price.
Who competes with MGIC Investment Corporation (MTG)?
Private mortgage insurers
MGIC's direct peers are the other approved private mortgage insurers: Arch Capital's US MI unit, Essent Group (ESNT), NMI Holdings (NMIH), Radian Group (RDN), and Enact Holdings (ACT). These six dominate the market and compete on pricing, underwriting, financial strength, and lender relationships.
Government mortgage insurance
Federal programs such as FHA loans (and VA and USDA guarantees) offer low-down-payment mortgage insurance that competes with private coverage. Shifts in FHA pricing or policy can move borrowers between government-backed and private mortgage insurance.
Broader specialty and title insurers
As a housing-linked specialty insurer, MGIC is often compared with title and mortgage-related insurers like First American (FAF) and Fidelity National Financial (FNF), which are also sensitive to mortgage volume and the real-estate cycle though in different segments.
How to invest in MGIC Investment Corporation (MTG)
There are three common ways to get MTG exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it, which spreads the position across many companies. Or build it into a focused thematic basket, so MTG sits alongside other stocks that express the same thesis.
Walnut takes the basket route. Describe a thesis where MTG fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.
New to this? Start with how to invest in stocks, see how to analyze a stock with AI, or compare the best AI stock analyzers.
The bottom line on MGIC Investment Corporation (MTG)
MGIC is a highly profitable, low-multiple private mortgage insurer generating mid-teens returns on equity and returning capital aggressively through buybacks and a growing dividend, while remaining structurally exposed to housing downturns and rising unemployment.
More on MGIC Investment Corporation (MTG)
Whether MTG is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is MTG a buy?, and where the stock could go from here in the MTG stock forecast.
For income investors, whether MTG pays a dividend and how the payout looks is covered in does MTG pay a dividend?
Build a basket around MTG with Walnut
Use MGIC Investment Corporation as one constituent in a thematic basket Walnut's AI helps you assemble. Describe a thesis you believe in, the AI proposes the holdings and weights, and you approve before any broker order.
FAQ
What does MGIC Investment Corp do?
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MGIC is the holding company for Mortgage Guaranty Insurance Corporation, one of the largest U.S. private mortgage insurers. It insures lenders against losses when borrowers with less than a 20% down payment default, earning recurring premiums on its large insurance-in-force portfolio.
How do I invest in MTG stock?
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MTG trades on the New York Stock Exchange, so you can buy shares or fractional shares through any major broker. You can also gain exposure indirectly through financials or insurance ETFs that hold it, or hold it as one position in a thematic basket.
Does MGIC pay a dividend?
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Yes. MGIC pays a quarterly cash dividend, most recently $0.15 per share, which works out to a yield of roughly 2% at recent prices. The dividend has been raised gradually over the past few years alongside large share buybacks.
Is MGIC profitable?
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Yes. MGIC generated about $738 million of net income over the trailing twelve months and roughly $165 million in Q1 2026, producing an annualized return on equity near 13%. Its earnings come mainly from insurance premiums minus losses and expenses.
What is MGIC's valuation?
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MGIC has a market cap around $5.6 billion and trades at a low price-to-earnings multiple of roughly 8 to 9 times and near its book value per share of about $24. Cyclical mortgage-insurance earnings typically carry a valuation discount.
Who are MGIC's main competitors?
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MGIC competes with the other approved private mortgage insurers: Arch, Essent, NMI Holdings, Radian, and Enact. It also competes with government programs like FHA insurance for low-down-payment borrowers.
What are the biggest risks to MGIC?
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The main risk is the housing and credit cycle. Rising unemployment or falling home prices can quickly increase delinquencies and claims. Slower mortgage origination and refinancing, affordability pressure, and pricing competition among insurers are additional risks.
Walnut is informational, not investment advice. Financial figures on this page are approximations; always verify current numbers with MGIC Investment Corporation's investor relations page or your broker before making investment decisions.