Wednesday, October 18, 2006

Rumination on 3Qtr Results: MGIC Investment Corp (MTG)

MGIC Investment Corporation reported net income for the quarter ended September 30, 2006 of $130.0 million, compared with the $142.4 million for the same quarter a year ago, a decrease of 8.7%. Diluted earnings per share was $1.55 for the quarter ending September 30, 2006, compared to $1.55 for the same quarter a year ago. PR Newswire Business.


It is interesting to note that book value per share increased from $47.31 to $50.85 from Dec 05 to Sept 06; an increase of 7.48%.

Thus, MTG is on track to achieve better book value per share growth than I have conservatively predicted (8.5% per annum) in my previous analysis.

Management has been doing great job at buying back shares.


To read my previous analysis on MTG.

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