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

MGIC Q2 2024 net income rises to $204.2 million, or $0.77 per diluted share

Positive Impact 3 of 5 earnings Written later

MGIC Investment Corp reported second-quarter 2024 net income of $204.2 million, or $0.77 per diluted share, up from $191.1 million, or $0.66 per share, in the same quarter of 2023. Total revenues rose to $305.3 million from $290.7 million, and new insurance written was $13.5 billion versus $12.4 billion a year earlier. The company also repurchased $157.0 million of its stock in the quarter and has an additional $750 million buyback authorization that runs through December 31, 2026.

Key points

  • Net income was $204.2 million, or $0.77 per diluted share, compared with $191.1 million, or $0.66 per share, in Q2 2023 and $174.1 million, or $0.64 per share, in Q1 2024.
  • Adjusted net operating income was $204.9 million, or $0.77 per diluted share, compared with $0.68 per share in Q2 2023.
  • Total revenues were $305.3 million, compared with $290.7 million in Q2 2023; net premiums earned were $243.5 million.
  • The company repurchased 7.6 million shares for $157.0 million in Q2 2024 and declared a $0.13 per share dividend payable August 22, 2024.

The filing

CompanyMGIC Investment (MTG)
Form8-K, current report
Filed with the SECJul 31, 2024, 4:05 PM ET
Accession number0000876437-24-000080

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 July 31, 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.