MILWAUKEE (AP) — MGIC Investment Corp. (MTG) on Thursday reported fourth-quarter profit of $27.3 million.
On a per-share basis, the Milwaukee-based company said it had net income of 7 cents. Earnings, adjusted for pretax expenses, came to 43 cents per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 27 cents per share.
The mortgage insurance company posted revenue of $271.5 million in the period. Its adjusted revenue was $271 million.
For the year, the company reported profit of $355.8 million, or 95 cents per share. Revenue was reported as $1.07 billion.
MGIC shares have climbed roughly 8 percent since the beginning of the year. The stock has increased 52 percent in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MTG at https://www.zacks.com/ap/MTG