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MTG on NYSE

MGIC INVESTMENT CORP

American surety insurance company based in Milwaukee, incorporated in Wisconsin2

In its 2026 annual report the company says: “We are a holding company and through wholly-owned subsidiaries we provide private mortgage insurance, other mortgage credit risk management solutions, and ancillary services.”5 Its shares trade on NYSE under the symbol MTG.2

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Last updated Oct 21, 2026.

Overview

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  • TickerMTG on NYSE2
  • IndustrySurety Insurance2
  • HeadquartersMilwaukee, United States2
  • Incorporated inWI3
  • Business address250 East Kilbourn Avenue, Milwaukee, Wi 532023
  • Filer categoryLarge accelerated filer3
  • Legal formBusiness Corporation2
  • LEI254900S8483WM4M98R282
  • StatusActive2
  • LEI statusIssued and current2
  • Registered addressC/O National Registered Agents, Inc., 53703 Madison, United States2
  • Registered withCorporation Section (Division of Corporate & Consumer Services, Department of Financial Institutions), 1M238612

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See the "Glossary of terms and acronyms" for definitions and descriptions of terms used throughout this annual report.5 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

60.8%Net margin6
0.5%Revenue growth, 20256
14.3%Return on equity6
$851.8MFree cash flow6

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Other costs23¢$285.1M
  • Income tax16¢$190.2M
  • Profit61¢$738.3M

Out of $1.2B in revenue.6

Where each dollar of operating cash went, fiscal 2025

  • Capital spending0¢$1.0M
  • Dividends paid14¢$132.5M
  • Share buybacks86¢$788.6M

Out of $852.8M of cash from operations. Spending exceeded cash from operations; the rest came from savings or borrowing.6

Financial statements

Revenue789106$1.2B in 2025−0% since 2019
0$500.0M$1.0B$1.5B2019: $1.2B$1.2B20192020: $1.2B$1.2B2020−1%2021: $1.2B$1.2B2021−1%2022: $1.2B$1.2B2022−1%2023: $1.2B$1.2B2023−2%2024: $1.2B$1.2B2024+5%2025: $1.2B$1.2B2025+0%
Net income789106$738.3M in 2025+10% since 2019
0$250.0M$500.0M$750.0M$1.0B2019: $673.8M$673.8M20192020: $446.1M$446.1M2020−34%2021: $635.0M$635.0M2021+42%2022: $865.3M$865.3M2022+36%2023: $712.9M$712.9M2023−18%2024: $763.0M$763.0M2024+7%2025: $738.3M$738.3M2025−3%
Fiscal year2019202020212022202320242025
Revenue$1.2B7$1.2B8$1.2B9$1.2B10$1.2B6$1.2B6$1.2B6
Income before tax$801.8M9$1.1B10$902.2M6$968.7M6$928.5M6
Income tax$174.2M7$113.2M8$166.8M9$224.7M10$189.3M6$205.7M6$190.2M6
Net income$673.8M7$446.1M8$635.0M9$865.3M10$712.9M6$763.0M6$738.3M6
Earnings per share$1.917$1.318$1.909$2.8310$2.516$2.926$3.176
Earnings per share (diluted)$1.857$1.298$1.859$2.7910$2.496$2.896$3.146
Shares (weighted, basic)334.3M shares9305.8M shares10283.6M shares6261.7M shares6233.0M shares6
Shares (weighted, diluted)351.3M shares9311.2M shares10287.2M shares6264.0M shares6235.1M shares6

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Corporate structure

MGIC INVESTMENT CORP sits at the top of its group. 3 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of MGIC INVESTMENT CORP

  • MGIC INVESTMENT CORP Milwaukee, Wisconsin, United States
    • (1) Except as otherwise noted in a footnote, all companies listed are 100% directly or indirectly owned by the registrant and all are incorporated in Subsidiary · Wisconsin, United States
    • MGIC Reinsurance Corporation of Subsidiary · Vermont, United States

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What MGIC INVESTMENT CORP reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Accumulated depreciation$53.8M6 Dec 31, 2025$61.2M6 Dec 31, 2024−12.1%
Property and equipment, net$32.5M6 Dec 31, 2025$35.7M6 Dec 31, 2024−9.0%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$369.0M6 Dec 31, 2025$229.5M6 Dec 31, 2024+60.8%
Debt securities available for sale$5.8B6 Dec 31, 2025$5.9B6 Dec 31, 2024−1.0%
Equity securities at fair value$15.3M6 Dec 31, 2025$14.8M6 Dec 31, 2024+3.8%

Properties, in its own words

At December 31, 2025, we had no office space leases in the United States that require monthly rental payments.

We own our headquarters facility located in Milwaukee, Wisconsin, which contains approximately 220,000 square feet of space.

Item 2 of the 10-K filed Feb 25, 2026.5

Leadership

Who has led MGIC INVESTMENT CORP, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Curt S. Culver2006–2015
  2. Patrick Sinks2015–2019
  3. Timothy J. Mattke2019–now

Chair

  1. Curt S. Culver2006–2015

President

  1. Curt S. Culver2006
  2. Patrick Sinks2006–2019
  3. Salvatore A. Miosi2019–now

Chief financial officer

  1. Jon Michael Lauer2006–2014
  2. Timothy J. Mattke2014–2019
  3. Nathaniel H. Colson2019–now

Chief operating officer

  1. Patrick Sinks2006–2016
  2. Salvatore A. Miosi2019–now
2010201520202025
Board members and other officers (44)

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • (1) Except as otherwise noted in a footnote, all companies listed are 100% directly or indirectly owned by the registrant and all are incorporated in Wisconsin.4
  • MGIC Reinsurance Corporation of Vermont (3)4

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Timeline

  1. Jul 29, 20268-K Results of operations64
  2. Apr 29, 20268-K Results of operations65
  3. Apr 23, 20268-K Shareholder vote66
  4. Feb 2, 20268-K Results of operations67
  5. Dec 15, 20258-K Executive or director change68
  6. Oct 29, 20258-K Results of operations69
  7. Oct 23, 20258-K Executive or director change70
  8. Jul 30, 20258-K Results of operations71
  9. Jun 13, 20258-K Executive or director change72
  10. Apr 30, 20258-K Results of operations73
  11. Apr 25, 20258-K Shareholder vote74
  12. Feb 11, 20258-K Executive or director change75
  13. Jul 26, 2019New chief executive Timothy J. Mattke becomes CEO14
  14. Feb 26, 2015New chief executive Patrick Sinks becomes CEO15
  15. Jan 23, 2006New chief executive Curt S. Culver becomes CEO16
  16. Jun 21, 1984Founded MGIC INVESTMENT CORP is founded2

Calendar

Coming up

  1. Nov 4, 2026 · After the closeReports results for the quarter ending Sep/2026 A year earlier it reported $0.83 a share, on Oct 29, 2025.76

When it reported results

  1. Jul 29, 2026Reported quarterly or annual results64
  2. Apr 29, 2026Reported quarterly or annual results65
  3. Feb 2, 2026Reported quarterly or annual results67
  4. Oct 29, 2025Reported quarterly or annual results69
  5. Jul 30, 2025Reported quarterly or annual results71
  6. Apr 30, 2025Reported quarterly or annual results73
  7. Feb 3, 2025Reported quarterly or annual results77
  8. Nov 4, 2024Reported quarterly or annual results78

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

603 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 35 major events, 467 insider forms, 28 large holders, 53 other. The latest 20:

  1. Oct 2, 20264 EDGAR
  2. Oct 2, 20264 EDGAR
  3. Oct 1, 2026144 EDGAR
  4. Oct 1, 2026144 EDGAR
  5. Sep 25, 20264 EDGAR
  6. Sep 24, 2026144 EDGAR
  7. Sep 2, 20264 EDGAR
  8. Sep 1, 2026144 EDGAR
  9. Aug 21, 20264 EDGAR
  10. Aug 21, 20264 EDGAR
  11. Aug 21, 20264 EDGAR
  12. Aug 21, 20264 EDGAR
  13. Aug 21, 20264 EDGAR
  14. Aug 21, 20264 EDGAR
  15. Aug 21, 20264 EDGAR
  16. Aug 21, 20264 EDGAR
  17. Aug 21, 20264 EDGAR
  18. Aug 10, 20264 EDGAR
  19. Aug 7, 2026144 EDGAR
  20. Aug 6, 20264 EDGAR

The 603 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

31 open-market trades by officers, directors and large owners since October 2021: 1 buys and 30 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Sep 24, 2026Colson Nathaniel HOfficer EVP, CFO & CROSale20,000$29.48$589.6KForm 4
Sep 1, 2026Miosi Salvatore APresident & COOSale30,000$30.73$921.9KForm 4
Aug 7, 2026Maggio Paula CEVP and General CounselSale20,000$30.30$606.0KForm 4
Aug 5, 2026Mattke Timothy J.Chief Executive OfficerSale137,113$30.52$4.2MForm 4
Aug 3, 2026Miosi Salvatore APresident & COOSale30,000$29.70$891.0KForm 4
Jul 1, 2026Miosi Salvatore APresident & COOSale30,000$28.23$846.9KForm 4
Jun 25, 2026Colson Nathaniel HOfficer EVP, CFO & CROSale20,000$27.10$542.0KForm 4
Jun 8, 2026Miosi Salvatore APresident & COOSale30,000$25.38$761.4KForm 4
May 29, 2026Maggio Paula CEVP and General CounselSale20,937$25.55$534.9KForm 4
Apr 2, 2026Mattke Timothy J.Chief Executive OfficerSale139,202$26.49$3.7MForm 4
Apr 1, 2026Miosi Salvatore APresident & COOSale10,931$26.25$286.9KForm 4
Mar 2, 2026Miosi Salvatore APresident & COOSale30,000$27.04$811.2KForm 4
Feb 6, 2026Maggio Paula CEVP and General CounselSale20,000$27.51$550.2KForm 4
Feb 2, 2026Miosi Salvatore APresident & COOSale30,000$27.27$818.1KForm 4
Jan 13, 2026Mattke Timothy J.Chief Executive OfficerSale139,203$26.51$3.7MForm 4
Jan 2, 2026Miosi Salvatore APresident & COOSale30,000$29.13$873.9KForm 4
Dec 1, 2025Miosi Salvatore APresident & COOSale30,000$28.40$852.0KForm 4
Nov 3, 2025Miosi Salvatore APresident & COOSale30,000$27.52$825.6KForm 4
Oct 31, 2025Maggio Paula CEVP and General CounselSale20,000$27.44$548.8KForm 4
Oct 7, 2025Mattke Timothy J.Chief Executive OfficerSale139,203$27.09$3.8MForm 4

All 31 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Timothy Mattke50$1.1M$8.4M90
2025Salvatore Miosi$758.0K$4.2M90
2025Nathaniel Colson$600.0K$2.8M90
2025Paula Maggio$636.0K$2.4M90
2024Chief Executive$1.0M$8.8M90
2024President and$754.5K$4.3M90
2024EVPChief Financial$587.7K$2.9M90
2024EVP and$633.1K$2.6M90
2023Officer$988.5K$8.0M90
2023Chief Operating Officer$731.8K$4.3M90
2023General Counsel$612.8K$2.4M90

SEC filer profile

How MGIC INVESTMENT CORP is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARMGIC INVESTMENT CORP1
  • CIK0000876437
  • Employer ID (EIN)39-14864755
  • Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company5
  • Incorporated inWisconsin5
  • Fiscal year endsDecember 311
  • Industry code (SIC)6351 Surety Insurance1
  • SEC reviewing officeOffice of Finance, Division of Corporation Finance1
  • Business address250 East Kilbourn Avenue, Milwaukee, WI 532021
  • Phone41434764801
  • Shares outstanding205,124,840 as of Jul 24, 202612
  • Public float$6.3B as of Jun 30, 20255
  • AuditorPricewaterhouseCoopers LLP, Milwaukee, Wisconsin PCAOB ID 238; it also attests to the company’s internal control over financial reporting5
  • On EDGAR sinceFeb 16, 19941
  • Filings2,814 in all: 4 (1,845), 8-K (264), 4/A (136), SC 13G/A (100), 10-Q (92), SC 13G (49), 144 (39), 3 (33)1
    All 46 form types

    DEF 14A (31), 10-K (27), 424B5 (20), ARS (18), 425 (16), UPLOAD (14), CORRESP (13), DEFA14A (11), 11-K (10), S-8 (10), 8-A12B/A (9), PRE 14A (9), FWP (7), SCHEDULE 13G/A (7), CT ORDER (6), S-3ASR (6), 5 (4), 10-K/A (3), 10-K405 (3), 8-K/A (3), EFFECT (3), S-3 (3), SCHEDULE 13G (3), 3/A (2), 424B3 (2), S-1/A (2), S-3/A (2), S-8 POS (2), 11-K/A (1), 15-12B (1), 25-NSE (1), 424B4 (1), 8-A12B (1), NT 10-Q (1), S-1 (1), S-1MEF (1), S-4 (1), S-4/A (1)

  • Latest filingsAnnual report (10-K) Feb 25, 2026
    Quarterly report (10-Q) Jul 29, 2026
    Proxy statement (DEF 14A) Mar 20, 2026
    Latest 8-K (8-K) Jul 29, 2026

Securities registered for trading

ClassSymbolExchange
Common stock, par value $1 per shareMTGNew York Stock Exchange

From the cover page of the 10-K filed Feb 25, 2026 (Section 12(b) of the Exchange Act).5

Risk factors and legal proceedings

The risks MGIC INVESTMENT CORP names in Item 1A of its 10-K filed Feb 25, 2026: 27 risks under these headings, as written.5

  • Economic downturns and/or declines in home prices may lead to increased losses.
  • Changes in the business practices of Fannie Mae and Freddie Mac ("the GSEs"), federal legislation that changes their charters or a restructuring of the GSEs could reduce our revenues or increase our losses.
  • We may not continue to meet the GSEs’ private mortgage insurer eligibility requirements and our returns may decrease if we are required to maintain more capital in order to maintain our eligibility.
  • Because loss reserve estimates are subject to uncertainties, paid claims may be substantially different than our loss reserves.
  • We are subject to comprehensive regulation and other requirements, which we may fail to satisfy.
  • The effects of pandemics, severe weather events, or other disasters may adversely impact our results of operations and financial condition.
  • Reinsurance may be unavailable at current levels and prices, and/or the GSEs may reduce the amount of capital credit we receive for our reinsurance transactions.
  • Because we establish loss reserves only upon a loan delinquency rather than based on estimates of our ultimate losses on risk in force, losses may have a disproportionate adverse effect on our earnings in certain periods.
  • State capital requirements may prevent us from continuing to write new insurance on an uninterrupted basis.
  • If the volume of low down payment home mortgage originations declines, the amount of insurance that we write could decline.
  • The amount of insurance we write could be adversely affected if lenders and investors select alternatives to private mortgage insurance or are unable to obtain capital relief for mortgage insurance.
  • The length of time our insurance policies remain in force has a significant impact on our results.
The other 15 risks
  • We are susceptible to disruptions in the servicing of mortgage loans that we insure and we rely on third-party reporting for information regarding the mortgage loans we insure.
  • If our risk management programs are not effective in identifying, controlling or mitigating the risks we face, or if the models we use are inaccurate, it could have a material adverse impact on our business, results of operations and financial condition.
  • Failed, disrupted, or inadequate information technology systems may materially impact our operations and/or adversely affect our financial results.
  • We could be materially adversely affected by a cybersecurity breach or failure of information security controls.
  • Our underwriting practices and the mix of business we write affects our Minimum Required Assets under the PMIERs, our premium yields and the likelihood of claims.
  • The premiums we charge may not be adequate to compensate us for our liabilities for losses and as a result any inadequacy could materially affect our financial condition and results of operations.
  • Actual or perceived instability in the financial services industry or non-performance by financial institutions or transactional counterparties could materially impact our business.
  • We rely on our management team and our business could be harmed if we are unable to retain qualified personnel or successfully develop and/or recruit their replacements.
  • Competition or changes in our relationships with our customers could reduce our revenues, reduce our premium yields and / or increase our losses.
  • Adverse rating agency actions could have a material adverse impact on our business, results of operations and financial condition.
  • We are subject to the risk of legal proceedings.
  • Our investment portfolio is subject to credit and interest rate risk, may suffer reduced or low returns, and/or material realized or unrealized losses.
  • The inability of our insurance subsidiaries to pay dividends in sufficient amounts would harm our ability to meet our obligations, pay future shareholder dividends and/or make future share repurchases.
  • Your ownership in our company may be diluted by additional capital that we raise.
  • The price of our common stock may fluctuate significantly, which may make it difficult for holders to resell common stock when they want or at a price they find attractive.

Legal proceedings

Certain legal proceedings arising in the ordinary course of business may be filed or pending against us from time to time. For information about such legal proceedings, see Note 15 – "Litigation and Contingencies" to our consolidated financial statements in Item 8.

The opening of Item 3, Legal Proceedings.5

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