MGIC: 4Q Earnings Snapshot
MILWAUKEE (AP) _ MGIC Investment Corp. (MTG) on Tuesday reported fourth-quarter earnings of $151.4 million.
The Milwaukee-based company said it had profit of 44 cents per share. Earnings, adjusted for investment gains, came to 43 cents per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 39 cents per share.
The mortgage insurance company posted revenue of $302.3 million in the period. Its adjusted revenue was $299.4 million.
For the year, the company reported profit of $446.1 million, or $1.29 per share. Revenue was reported as $1.19 billion.
MGIC shares have climbed roughly 2% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $12.79, a fall of 2% in the last 12 months.