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

August 12, 2018 - By Catherine Diaz

MGIC Investment Corporation (NYSE:MTG) LogoInvestors sentiment decreased to 0.88 in Q1 2018. 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. Adirondack Rech And Management invested in 2.11% or 404,100 shares. Linden Advsr L P has 0.04% invested in MGIC Investment Corporation (NYSE:MTG) for 124,260 shares. 1.13M are held by Nordea Invest Management Ab. Teacher Retirement Of Texas accumulated 81,968 shares or 0.01% of the stock. Zeke Cap Advisors Ltd reported 19,837 shares stake. Federated Invsts Pa reported 0.01% stake. Stevens Capital Mngmt Ltd Partnership has invested 0.04% in MGIC Investment Corporation (NYSE:MTG). Benjamin F Edwards And owns 100 shares or 0% of their US portfolio. Westport Asset Mgmt Incorporated reported 275,000 shares stake. Morgan Stanley holds 1.59M shares or 0.01% of its portfolio. Monarch Ptnrs Asset Management Ltd invested 0.97% in MGIC Investment Corporation (NYSE:MTG). Amalgamated State Bank has 0.02% invested in MGIC Investment Corporation (NYSE:MTG) for 48,809 shares. Sumitomo Mitsui Asset Mgmt Ltd owns 0.03% invested in MGIC Investment Corporation (NYSE:MTG) for 176,154 shares. Art Advisors Limited Liability Company has invested 0.01% in MGIC Investment Corporation (NYSE:MTG). Janney Montgomery Scott Ltd Liability Corporation reported 0% in MGIC Investment Corporation (NYSE:MTG).

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 2.37M 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 $4.56B 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 Phillips 66 (NYSE:PSX) by 178,264 shares to 1.85 million shares, valued at $207.69 million in 2018Q2, according to the filing. It also reduced its holding in Lululemon Athletica Inc (NASDAQ:LULU) by 398,423 shares in the quarter, leaving it with 301,436 shares, and cut its stake in Gilead Sciences Inc (NASDAQ:GILD).

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 has “Buy” rating given on Tuesday, April 10 by Susquehanna. Bank of America downgraded the stock to “Sell” rating in Wednesday, June 13 report. The company was maintained on Thursday, April 26 by BTIG Research. The firm has “Overweight” rating by Barclays Capital given on Wednesday, April 11. FBR Capital maintained MGIC Investment Corporation (NYSE:MTG) rating on Tuesday, August 7. FBR Capital has “Buy” rating and $16 target. Bank of America downgraded MGIC Investment Corporation (NYSE:MTG) rating on Tuesday, April 10. Bank of America has “Hold” rating and $11.5000 target. The firm earned “Market Perform” rating on Thursday, April 19 by Wells Fargo. The company was downgraded on Tuesday, April 10 by RBC Capital Markets. The stock of MGIC Investment Corporation (NYSE:MTG) earned “Buy” rating by Deutsche Bank on Tuesday, April 10. B. Riley & Co maintained the stock with “Buy” rating 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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