Bank of New York Mellon Corp lowered its stake in MBIA Inc. (NYSE:MBI – Free Report) by 2.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 210,326 shares of the insurance provider’s stock after selling 5,236 shares during the period. Bank of New York Mellon Corp’s holdings in MBIA were worth $1,516,000 as of its most recent filing with the SEC.
Several other institutional investors also recently modified their holdings of the stock. Kahn Brothers Group Inc. increased its holdings in shares of MBIA by 2.2% in the second quarter. Kahn Brothers Group Inc. now owns 4,838,495 shares of the insurance provider’s stock valued at $41,805,000 after buying an additional 103,933 shares in the last quarter. BlackRock Inc. raised its stake in MBIA by 8.5% during the 1st quarter. BlackRock Inc. now owns 3,722,576 shares of the insurance provider’s stock valued at $34,471,000 after purchasing an additional 290,439 shares during the period. Vanguard Group Inc. raised its stake in MBIA by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 2,485,679 shares of the insurance provider’s stock valued at $38,255,000 after purchasing an additional 65,720 shares during the period. Hosking Partners LLP raised its stake in MBIA by 8.3% during the 2nd quarter. Hosking Partners LLP now owns 1,922,150 shares of the insurance provider’s stock valued at $16,607,000 after purchasing an additional 148,123 shares during the period. Finally, State Street Corp raised its stake in MBIA by 0.6% during the 2nd quarter. State Street Corp now owns 1,057,778 shares of the insurance provider’s stock valued at $9,139,000 after purchasing an additional 6,064 shares during the period. Institutional investors own 58.53% of the company’s stock.
Wall Street Analyst Weigh In
Several analysts have issued reports on MBI shares. Roth Mkm cut their target price on shares of MBIA from $15.00 to $7.00 and set a “neutral” rating on the stock in a research note on Tuesday, December 19th. Keefe, Bruyette & Woods cut their target price on shares of MBIA from $10.00 to $9.00 and set a “market perform” rating on the stock in a research note on Friday, November 17th. StockNews.com raised shares of MBIA to a “sell” rating in a research note on Thursday, January 11th. Finally, Roth Capital downgraded shares of MBIA from a “buy” rating to a “neutral” rating in a research note on Friday, December 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, MBIA has a consensus rating of “Hold” and a consensus price target of $10.00.
Insider Transactions at MBIA
In related news, Director Richard C. Vaughan sold 12,000 shares of the company’s stock in a transaction on Wednesday, December 27th. The shares were sold at an average price of $6.31, for a total value of $75,720.00. Following the completion of the sale, the director now directly owns 88,184 shares in the company, valued at $556,441.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 12.94% of the stock is currently owned by company insiders.
MBIA Trading Down 1.0 %
NYSE MBI opened at $6.09 on Thursday. MBIA Inc. has a 1-year low of $5.21 and a 1-year high of $14.37. The company has a market capitalization of $311.44 million, a PE ratio of -0.73 and a beta of 1.46. The firm’s fifty day simple moving average is $8.02 and its 200-day simple moving average is $7.73.
MBIA Dividend Announcement
The business also recently declared a dividend, which was paid on Friday, December 22nd. Stockholders of record on Monday, December 18th were paid a $8.00 dividend. The ex-dividend date was Tuesday, December 26th.
MBIA Inc provides financial guarantee insurance services to public finance markets. It operates through United States (U.S.) Public Finance Insurance, Corporate, 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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