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Jun 30, 2023
MGIC Q2 2023 Earnings Report
MGIC Investment Corporation reported solid financial results for Q2 2023, marked by a decrease in net income but strong performance in new insurance written and persistency.
Key Takeaways
MGIC Investment Corporation reported a net income of $191.1 million for the second quarter of 2023, with adjusted net operating income of $196.0 million. New insurance written was $12.4 billion, and persistency was 83.5%. The company paid a dividend of $0.10 per common share and repurchased 5.0 million shares of common stock.
Net income for Q2 2023 was $191.1 million, or $0.66 per diluted share.
Adjusted net operating income for Q2 2023 was $196.0 million, or $0.68 per diluted share.
New insurance written in Q2 2023 was $12.4 billion.
Persistency was 83.5% at June 30, 2023.
Forward Guidance
The provided text does not contain explicit forward guidance. The forward looking statements and risk factors section indicates uncertainty and advises against relying on the current state of statements.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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