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

August 12, 2018 - By Andrea Bass

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. Cipher Lp invested in 36,398 shares or 0.06% of the stock. 329,076 are owned by Dupont Mgmt. American Century Cos has invested 0% in MGIC Investment Corporation (NYSE:MTG). Geode Cap Ltd Limited Liability Company holds 0.01% of its portfolio in MGIC Investment Corporation (NYSE:MTG) for 3.27M shares. Virginia Retirement Et Al reported 110,000 shares. Guggenheim Capital Lc accumulated 181,434 shares. Sadoff Mgmt Limited Liability Com has 2.67% invested in MGIC Investment Corporation (NYSE:MTG) for 2.43M shares. Premier Asset Ltd Liability Corporation accumulated 10,750 shares. Private Ocean Limited Liability Com holds 0.02% or 2,501 shares in its portfolio. Dekabank Deutsche Girozentrale reported 311,372 shares stake. Boston Prns invested 0.01% of its portfolio in MGIC Investment Corporation (NYSE:MTG). Blackrock has invested 0.02% in MGIC Investment Corporation (NYSE:MTG). Macquarie Grp Incorporated Ltd invested 0.11% in MGIC Investment Corporation (NYSE:MTG). Renaissance Limited Company reported 4.20M shares stake. Pub Employees Retirement Systems Of Ohio reported 713,196 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 $49.51 million, 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 $4.56B 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 $88.88 billion and $41.97 billion US Long portfolio, decreased its stake in Lkq Corp (NASDAQ:LKQ) by 865,063 shares to 377,648 shares, valued at $12.05 million in 2018Q2, according to the filing. It also reduced its holding in Us Foods Hldg Corp () by 464,529 shares in the quarter, leaving it with 141,013 shares, and cut its stake in Rio Tinto Plc (NYSE:RIO).

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 firm earned “Buy” rating on Tuesday, April 10 by Keefe Bruyette & Woods. BTIG Research maintained MGIC Investment Corporation (NYSE:MTG) rating on Thursday, April 26. BTIG Research has “Buy” rating and $1800 target. The firm earned “Hold” rating on Tuesday, April 10 by RBC Capital Markets. BTIG Research maintained the shares of MTG in report on Monday, April 9 with “Buy” rating. The stock has “Buy” rating by Susquehanna on Wednesday, April 18. The rating was downgraded by Bank of America to “Hold” on Tuesday, April 10. The firm has “Buy” rating given on Tuesday, April 10 by B. Riley & Co. As per Thursday, April 19, the company rating was downgraded by Wells Fargo. The company was maintained on Tuesday, April 10 by Deutsche Bank. The firm has “Buy” rating by Keefe Bruyette & Woods given on Thursday, April 19.

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 Globenewswire.com 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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