MGIC Investment Q4 Results Top Estimates

(RTTNews) - MGIC Investment Corp. (MTG) reported that its net income for the fourth-quarter declined to $151.4 million or $0.44 per share from $177.1 million or $0.49 per share last year.

Adjusted net operating income for the fourth quarter of 2020 was $149.5 million or $0.43 per share, compared to $176.1 million or $0.49 per share in the previous year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.40 per share. Analysts' estimates typically exclude special items.

Total revenues for the quarter declined to $302.28 million from $311.63 million in the prior year. Analysts expected revenue of $301.14 million for the quarter.

MGIC Investment paid a $0.06 dividend per common share to shareholders during the fourth quarter of 2020.