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MGIC Investment Corp. Q4 Profit Tops Estimates

MGIC Investment Corp. (MTG) reported fourth-quarter adjusted net operating income per share of $0.49 compared to $0.42, a year ago. On average, 12 analysts polled by Thomson Reuters expected the company to report profit per share of $0.43, for the quarter. Analysts' estimates typically exclude special items.

Fourth-quarter total revenues were $311.6 million, compared to $285.6 million, last year. Analysts expected revenue of $306.87 million for the quarter. Net premiums written were $254.0 million, compared to $248.0 million. Net premiums earned were $266.3 million, compared to $245.7 million.

The company has received authorization to repurchase $300 million of its common stock through the end of 2021.

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