Eaton Vance Management Increased Mgic Invt Corp Wis (NYSE:MTG) Stake by $23.67 Million

August 12, 2018 - By Richard Doty

MGIC Investment Corporation (NYSE:MTG) LogoInvestors sentiment decreased to 0.88 in 2018 Q1. Its down 0.44, from 1.32 in 2017Q4. It worsened, as 38 investors sold MTG shares while 100 reduced holdings. 35 funds opened positions while 87 raised stakes. 331.27 million shares or 1.30% less from 335.64 million shares in 2017Q4 were reported. Private Ocean Ltd Liability stated it has 2,501 shares. 51,121 are held by Lingohr & Partner Asset Management Gmbh. Mufg Americas Hldg stated it has 5,726 shares or 0% of all its holdings. Creative Planning invested in 14,118 shares or 0% of the stock. Alliancebernstein Lp stated it has 0.01% in MGIC Investment Corporation (NYSE:MTG). Federated Invsts Pa reported 236,862 shares or 0.01% of all its holdings. Suntrust Banks holds 0% or 30,102 shares. Advisory Service Ltd Liability Corp invested in 0% or 500 shares. Robeco Institutional Asset Bv holds 352,888 shares. Fuller Thaler Asset Management Inc owns 6,100 shares. Citadel Ltd Liability Co stated it has 0.01% in MGIC Investment Corporation (NYSE:MTG). Great West Life Assurance Can reported 46,272 shares or 0% of all its holdings. Ajo L P holds 0.3% or 5.00 million shares. Sadoff Inv Management Llc reported 2.43 million shares. Brant Point Invest Management holds 0.21% of its portfolio in MGIC Investment Corporation (NYSE:MTG) for 222,643 shares.

Eaton Vance Management increased its stake in Mgic Invt Corp Wis (NYSE:MTG) by 105.1% based on its latest 2018Q2 regulatory filing with the SEC. Eaton Vance Management bought 2.37 million shares as the company’s stock declined 26.95% with the market. The institutional investor held 4.62M shares of the property-casualty insurers company at the end of 2018Q2, valued at $49.51M, up from 2.25 million at the end of the previous reported quarter. Eaton Vance Management who had been investing in Mgic Invt Corp Wis for a number of months, seems to be bullish on the $4.56 billion market cap company. The stock decreased 0.16% or $0.02 during the last trading session, reaching $12.59. About 1.19M shares traded. MGIC Investment Corporation (NYSE:MTG) has declined 2.69% since August 13, 2017 and is downtrending. It has underperformed by 15.26% the S&P500.

Eaton Vance Management, which manages about $88.88B and $41.97 billion US Long portfolio, decreased its stake in Regeneron Pharmaceuticals (NASDAQ:REGN) by 35,529 shares to 23,561 shares, valued at $8.13 million in 2018Q2, according to the filing. It also reduced its holding in Johnson & Johnson (NYSE:JNJ) by 228,367 shares in the quarter, leaving it with 6.72M shares, and cut its stake in Lkq Corp (NASDAQ:LKQ).

Eaton Vance Management is a Massachusetts-based institutional investor with more than $88.88 billion AUM in January, 2015. This fund invests only a small percentage of its assets in equities and options. Eaton Vance Management is the 58th largest institutional investor in our database. Taken from Eaton Vance latest Adv, the fund reported to have 700 full and part-time employees. Among which 200 performing investment advisory and research functions. The institutional investor had more than 19900 clients.

MGIC Investment Corporation (NYSE:MTG) Ratings Coverage

Among 11 analysts covering MGIC Investment (NYSE:MTG), 8 have Buy rating, 1 Sell and 2 Hold. Therefore 73% are positive. MGIC Investment had 15 analyst reports since March 15, 2018 according to SRatingsIntel. The stock of MGIC Investment Corporation (NYSE:MTG) has “Buy” rating given on Tuesday, April 10 by Deutsche Bank. BTIG Research maintained MGIC Investment Corporation (NYSE:MTG) on Monday, April 9 with “Buy” rating. The firm has “Overweight” rating given on Wednesday, April 11 by Barclays Capital. Keefe Bruyette & Woods maintained the shares of MTG in report on Thursday, April 19 with “Buy” rating. RBC Capital Markets downgraded MGIC Investment Corporation (NYSE:MTG) rating on Tuesday, April 10. RBC Capital Markets has “Hold” rating and $1200 target. On Wednesday, April 18 the stock rating was maintained by Susquehanna with “Buy”. The rating was maintained by Susquehanna with “Buy” on Tuesday, April 10. The rating was downgraded by Wells Fargo on Thursday, April 19 to “Market Perform”. The firm has “Buy” rating by FBR Capital given on Tuesday, August 7. Bank of America downgraded it to “Hold” rating and $11.5000 target in Tuesday, April 10 report.

MGIC Investment Corporation, through its subsidiaries, provides private mortgage insurance and ancillary services to lenders and government sponsored entities in the United States. The company has market cap of $4.56 billion. The firm offers primary mortgage insurance that provides mortgage default protection on individual loans, as well as covers unpaid loan principal, delinquent interest, and various expenses associated with the default and subsequent foreclosure. It has a 9.95 P/E ratio. It also provides contract underwriting services; and other services for the mortgage finance industry, such as analysis of loan originations and portfolios, and mortgage lead generation services, as well as reinsurance arrangements.

Another recent and important MGIC Investment Corporation (NYSE:MTG) news was published by which published an article titled: “New Research Coverage Highlights EOG Resources, Zimmer Biomet, MGIC Investment, EPR Properties, Guess?, and …” on August 10, 2018.

MGIC Investment Corporation (NYSE:MTG) Institutional Positions Chart

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