MGIC INVESTMENT CORP
For the period ended Mar 31, 2024. Filed May 1, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 1, 2024
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Item 1A. Risk Factors
As of March 31, 2024, there have been no material changes in our Risk Factors from the risk factors disclosed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023. The risk factors in the 10-K, as supplemented by this 10-Q and through updating of various statistical and other information, are reproduced in their entirety in Exhibit 99 to this Quarterly Report on Form 10‑Q.
Item 2. Unregistered Sale of Equity Securities and Use of Proceeds
Issuer Purchases of Equity Securities
The following table provides information about purchases of MGIC Investment Corporation common stock by us during the three months ended March 31, 2024.
| Share repurchases | |||||
|---|---|---|---|---|---|
| Period Beginning | Period Ending | Total number of shares purchased | Average price paid per share | Total number of shares purchased as part of publicly announced plans or programs | Approximate dollar value of shares that may yet be purchased under the programs (1) |
| January 1, 2024 | January 31, 2024 | 1,943,002 | $19.47 | 1,943,002 | $225,504,313 |
| February 1, 2024 | February 29, 2024 | 1,606,744 | 19.36 | 1,606,744 | 194,395,551 |
| March 1, 2024 | March 31, 2024 | 1,178,690 | 20.70 | 1,178,690 | $169,991,173 |
| 4,728,436 | $19.74 | 4,728,436 | |||
(1)In April 2023, our Board of Directors authorized a share repurchase program under which as of March 31, 2024, we may repurchase up to an additional $170 million of our common stock through July 1, 2025. Repurchases may be made from time to time on the open market (including through 10b5-1 plans) or through privately negotiated transactions. The repurchase program may be suspended for periods or discontinued at any time. In April of 2024, our Board of Directors approved an additional share repurchase program, authorizing us to repurchase up to $750 million of common stock prior to December 31, 2026.
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