State Board of Administration of Florida Retirement System Reduces Holdings in MBIA Inc. (NYSE:MBI)

State Board of Administration of Florida Retirement System reduced its stake in MBIA Inc. (NYSE:MBIGet Rating) by 8.1% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 34,091 shares of the insurance provider’s stock after selling 3,010 shares during the period. State Board of Administration of Florida Retirement System’s holdings in MBIA were worth $421,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Envestnet Asset Management Inc. lifted its position in MBIA by 15.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 159,964 shares of the insurance provider’s stock worth $1,976,000 after acquiring an additional 21,638 shares during the period. SG Americas Securities LLC lifted its holdings in shares of MBIA by 164.6% during the second quarter. SG Americas Securities LLC now owns 21,384 shares of the insurance provider’s stock worth $264,000 after purchasing an additional 13,301 shares during the period. Counterpoint Mutual Funds LLC purchased a new stake in MBIA in the second quarter valued at approximately $118,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in MBIA in the 2nd quarter worth approximately $170,000. Finally, Allspring Global Investments Holdings LLC purchased a new position in MBIA during the 2nd quarter worth approximately $40,000. 65.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, StockNews.com assumed coverage on shares of MBIA in a report on Wednesday, October 12th. They issued a “hold” rating on the stock.

MBIA Stock Performance

NYSE MBI opened at $11.65 on Monday. The firm has a market capitalization of $639.50 million, a P/E ratio of -1.94 and a beta of 1.23. The stock has a 50-day simple moving average of $10.61 and a two-hundred day simple moving average of $11.91. MBIA Inc. has a fifty-two week low of $8.91 and a fifty-two week high of $17.90.

About MBIA

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MBIA Inc provides financial guarantee insurance services to public finance markets. It operates through 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.

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Institutional Ownership by Quarter for MBIA (NYSE:MBI)

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