MGIC Investment Corporation (MTG) Stock Price & How to Invest

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 low-to-mid-teens returns on equity, trades at a low earnings multiple (about 8.7x trailing and 8x forward as of October 2026) and about 1.1x 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.

The most recent quarter, Q2 2026, delivered net income of about $182 million and EPS of $0.87, well ahead of the ~$0.76 consensus, even though revenue of about $295 million was down roughly 3% year over year as premiums earned kept edging lower. Trailing twelve-month revenue is about $1.2 billion and net income about $708 million. The share price has drifted lower in 2026 (down about 5% year to date, up about 4.5% over one year), and AM Best affirmed the ratings of MGIC's operating subsidiaries in early October. Third-quarter results are scheduled for November 4, 2026, with consensus EPS near $0.82.

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 revenue was down about 3% year over year in Q2 2026 as net premiums earned kept declining. 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.

5 analysts publish price targets on MTG, averaging $31.40 against a $27.85 price as of October 2026, or +12.7%. The published targets run from $29.00 to $35.00, a narrow spread, and the ratings split 1 buy, 4 hold, 1 sell. Over the last six months there have been 3 raises and 1 cut among the published actions. A price target is what an analyst published on a date, not a prediction, and sell-side ratings skew positive across the whole market.

Read the full MTG forecast and price target for the target table, the recent rating actions by firm, and how the consensus has shifted.

We give no verdict on MGIC Investment Corporation. Both cases are real, which is why the question is contested at all, so here is the strongest version of each.

The case for buying. 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. The most optimistic published target, $35.00, assumes this works close to its best case.

The case against. MGIC's core business is highly dependent on the housing market and employment, so its main structural risk is the credit cycle. The most pessimistic target, $29.00, is roughly what MTG is worth if this bites instead.

Read the full bull and bear case on MTG, including what would have to change to break either one. Walnut is not an investment adviser.

No. MGIC Investment Corporation (MTG) has not split its stock in the last 10 years. That is a statement about the window we check rather than about the company’s entire history, so an older split is possible. It also matters less than it once did: fractional shares mean a high price per share no longer keeps smaller investors out, which removed most of the practical reason to split.

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
• Revenue growth (latest quarter, YoY): ~-3%
• Net income (TTM): ~$708M
• Q2 2026 net income: ~$182M ($0.87/sh vs ~$0.76 est.)
• Operating / profit margin: ~81% / ~59%
• P/E (trailing / forward): ~8.7x / ~8x
• Dividend yield: ~2.5%
• Market cap: ~$5.7B

MGIC trades at under 9x trailing earnings and about 1.1x book value, the market's usual discount for cyclical mortgage-insurance earnings, even as margins stay very high. Revenue is shrinking slowly (down about 3% year over year in Q2 2026) while earnings per share keep rising, which is mostly the effect of favorable loss experience and buybacks shrinking the share count. Valuation figures are approximate and move with the stock price; the analyst mean target was about $31.40 in mid-October 2026.

Other names that sit close to MTG: same theme, named as a direct competitor, or held beside it in the same funds. Each entry says which. Worth a look if you are thinking about diversification within a thesis rather than concentration on one ticker.

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 portfolio, so MTG sits alongside other stocks that express the same thesis.

Walnut takes the portfolio 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.

MGIC is a highly profitable, low-multiple private mortgage insurer generating low-to-mid-teens returns on equity (net margins near 59% in 2026) and returning capital aggressively through buybacks and a growing dividend, while remaining structurally exposed to housing downturns and rising unemployment.

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 or a sell?, 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? And to weigh MTG against a peer, read the full side-by-side comparisons: MTG vs ESNT and MTG vs NMIH.