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AI brief of an SEC Form 8-K · MGIC Investment (MTG)

MGIC Q1 2024 Net Income Rises to $174.1 Million, or $0.64 Per Diluted Share

Positive Impact 3 of 5 earnings Written later

MGIC Investment Corporation reported first quarter 2024 net income of $174.1 million, or $0.64 per diluted share, up from $154.5 million, or $0.53 per diluted share, a year earlier. The company also said its board approved a new $750 million share repurchase program in April 2024, which signals continued capital returns to shareholders.

Key points

  • Q1 2024 net income was $174.1 million, or $0.64 per diluted share, compared with $154.5 million, or $0.53, in Q1 2023.
  • Adjusted net operating income was $178.4 million, or $0.65 per diluted share, a non-GAAP measure.
  • The company repurchased 4.7 million shares for $93.3 million in Q1 2024 and an additional 2.7 million shares for $54.8 million in April.
  • The board approved a share repurchase program of up to $750 million that runs through December 31, 2026.

The filing

CompanyMGIC Investment (MTG)
Form8-K, current report
Filed with the SECMay 1, 2024, 4:05 PM ET
Accession number0000876437-24-000063

Items reported: 2.02 Results of Operations

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 1:05 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on May 01, 2024.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.