ProShare Advisors LLC Invests $81,000 in MBIA Inc. (NYSE:MBI)

ProShare Advisors LLC purchased a new position in shares of MBIA Inc. (NYSE:MBI) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 12,568 shares of the insurance provider’s stock, valued at approximately $81,000.

A number of other large investors have also recently bought and sold shares of MBI. Barclays PLC lifted its holdings in MBIA by 102.9% in the fourth quarter. Barclays PLC now owns 118,511 shares of the insurance provider’s stock worth $766,000 after acquiring an additional 60,105 shares during the last quarter. TCW Group Inc. lifted its holdings in MBIA by 53.3% in the fourth quarter. TCW Group Inc. now owns 706,560 shares of the insurance provider’s stock worth $4,564,000 after acquiring an additional 245,760 shares during the last quarter. Freestone Capital Holdings LLC bought a new position in MBIA in the fourth quarter worth about $1,159,000. Wolf Hill Capital Management LP bought a new position in MBIA in the fourth quarter worth about $18,608,000. Finally, Northern Trust Corp lifted its holdings in MBIA by 1.4% in the fourth quarter. Northern Trust Corp now owns 428,190 shares of the insurance provider’s stock worth $2,766,000 after acquiring an additional 5,860 shares during the last quarter. Institutional investors own 60.95% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods cut their target price on shares of MBIA from $9.00 to $8.00 and set an “outperform” rating on the stock in a report on Tuesday, April 29th.

MBIA Trading Up 1.9%

MBI opened at $4.51 on Wednesday. The business’s 50 day moving average is $4.48 and its 200-day moving average is $5.68. The stock has a market cap of $226.92 million, a PE ratio of -0.40 and a beta of 1.88. MBIA Inc. has a twelve month low of $3.22 and a twelve month high of $7.46.

MBIA (NYSE:MBI) last released its quarterly earnings results on Thursday, May 8th. The insurance provider reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.09). The firm had revenue of $14.00 million during the quarter, compared to the consensus estimate of $21.00 million. During the same quarter in the previous year, the business posted ($0.52) earnings per share. As a group, analysts forecast that MBIA Inc. will post -3.5 EPS for the current year.

MBIA Company 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.