Oct
18
MGIC Jumps Most Since July as Housing Rebound Boosts Profit
By-
Operating profit climbs as underwriting margin improves
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BofA analyst advises investors to buy insurer’s shares
MGIC Investment Corp., one of the U.S. mortgage guarantors that survived the financial crisis, posted the biggest gain since July as third-quarter operating profit advanced on lower costs tied to soured home loans.
The insurer rose 41 cents, or 5.1 percent, to $8.44 at 4:02 p.m. in New York trading, narrowing its loss for the year to 4.4 percent. Operating income rose to $102.2 million from $83.2 million a year earlier, the Milwaukee-based company said in a statement Tuesday…
MGIC Jumps Most Since July as Housing Rebound Boosts Profit
