Vanguard Group Inc. Trims Stake in MBIA Inc. (NYSE:MBI)

Vanguard Group Inc. lowered its holdings in MBIA Inc. (NYSE:MBI) by 6.1% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,355,678 shares of the insurance provider’s stock after selling 153,702 shares during the period. Vanguard Group Inc.’s holdings in MBIA were worth $16,984,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of MBI. Aigen Investment Management LP purchased a new stake in MBIA in the third quarter valued at approximately $122,000. NBC Securities Inc. purchased a new stake in shares of MBIA during the 3rd quarter valued at $161,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of MBIA by 3.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 730,372 shares of the insurance provider’s stock worth $5,266,000 after acquiring an additional 24,090 shares during the last quarter. SG Americas Securities LLC purchased a new position in MBIA in the third quarter worth $157,000. Finally, Hosking Partners LLP increased its stake in MBIA by 1.1% in the third quarter. Hosking Partners LLP now owns 1,942,554 shares of the insurance provider’s stock valued at $14,006,000 after acquiring an additional 20,404 shares during the last quarter. Institutional investors own 60.95% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on MBI. Keefe, Bruyette & Woods dropped their price target on MBIA from $9.00 to $7.50 and set a “market perform” rating for the company in a research note on Monday, April 1st. StockNews.com upgraded MBIA to a “sell” rating in a research report on Friday, February 23rd. Finally, Roth Mkm cut their target price on MBIA from $15.00 to $7.00 and set a “neutral” rating for the company in a research note on Tuesday, December 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $9.50.

MBIA Stock Down 0.8 %

NYSE MBI opened at $6.24 on Monday. The company has a 50-day simple moving average of $6.54 and a two-hundred day simple moving average of $7.17. MBIA Inc. has a 12-month low of $5.21 and a 12-month high of $14.37. The firm has a market cap of $319.99 million, a price-to-earnings ratio of -0.61 and a beta of 1.46.

MBIA (NYSE:MBI) last released its earnings results on Wednesday, February 28th. The insurance provider reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.20). The firm had revenue of ($31.00) million during the quarter, compared to the consensus estimate of $32.00 million. During the same period in the previous year, the business posted $0.30 earnings per share. Equities analysts expect that MBIA Inc. will post -0.3 earnings per share for the current fiscal year.

MBIA Profile

MBIA Inc provides financial guarantee insurance services to public finance markets in the United States. It operates United States (U.S.) Public Finance Insurance, and International and Structured Finance Insurance segments. The company issues financial guarantees for municipal bonds, including tax-exempt and taxable indebtedness of the U.S.