MBIA (NYSE:MBI) Price Target Lowered to $7.50 at Keefe, Bruyette & Woods

MBIA (NYSE:MBI) had its price objective decreased by Keefe, Bruyette & Woods from $8.50 to $7.50 in a report issued on Thursday morning,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the insurance provider’s stock.

A number of other analysts also recently issued reports on the stock. Wall Street Zen downgraded shares of MBIA from a “hold” rating to a “sell” rating in a report on Saturday, March 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MBIA in a research note on Thursday, January 22nd. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, MBIA has a consensus rating of “Hold” and an average price target of $7.50.

MBIA Trading Up 0.6%

Shares of MBI opened at $5.80 on Thursday. The business’s 50 day moving average is $6.41 and its 200 day moving average is $7.00. MBIA has a 12-month low of $3.86 and a 12-month high of $8.26. The company has a market capitalization of $292.71 million, a PE ratio of -1.62 and a beta of 1.87.

MBIA (NYSE:MBI) last announced its quarterly earnings data on Thursday, February 26th. The insurance provider reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.19). The business had revenue of $28.00 million for the quarter, compared to analyst estimates of $26.50 million. Equities research analysts predict that MBIA will post -3.5 earnings per share for the current year.

Hedge Funds Weigh In On MBIA

Several large investors have recently modified their holdings of the stock. Alliancebernstein L.P. raised its stake in shares of MBIA by 2.5% in the third quarter. Alliancebernstein L.P. now owns 78,540 shares of the insurance provider’s stock valued at $585,000 after acquiring an additional 1,900 shares during the period. Deutsche Bank AG boosted its holdings in MBIA by 4.6% during the 4th quarter. Deutsche Bank AG now owns 45,409 shares of the insurance provider’s stock valued at $325,000 after acquiring an additional 1,988 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of MBIA by 2.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 106,605 shares of the insurance provider’s stock worth $764,000 after purchasing an additional 2,900 shares during the last quarter. Millennium Management LLC boosted its position in MBIA by 8.7% in the 4th quarter. Millennium Management LLC now owns 43,823 shares of the insurance provider’s stock valued at $314,000 after buying an additional 3,509 shares during the period. Finally, Rhumbline Advisers grew its stake in MBIA by 5.5% in the 2nd quarter. Rhumbline Advisers now owns 69,789 shares of the insurance provider’s stock worth $303,000 after acquiring an additional 3,626 shares in the last quarter. Institutional investors own 60.95% of the company’s stock.

MBIA Company Profile

MBIA Inc is a financial guarantee insurance company specializing in credit enhancement and risk mitigation solutions for public finance and structured finance transactions. The company provides guaranty insurance for municipal bonds, asset-backed securities and other credit-sensitive obligations, protecting investors against the risk of payment default. Through its core insurance subsidiary, MBIA Insurance Corp., the firm offers financial guarantees, reinsurance support and customized credit solutions designed to improve the marketability and pricing of debt instruments.

Founded in 1973 as the Municipal Bond Insurance Association, MBIA built its reputation by insuring U.S.