In a report published on Thursday. The rating was a sell on the stock of the insurance provider.
Other equity research analysts also published reports on the stock. Compass Point upgraded MBIA shares from a neutral to a Buy rating in a research report on Friday, April 21, and set a price target of $14.00 on the stock. Keefe, Bruyette & Woods lowered its price target for shares of MBIA, from $13.00 down to $12.00, and gave the stock an outperform ranking in a research report on Wednesday, 15th March. The opening price was $7.83. MBIA's 12 month low is $7.33, and its 12 month high is $14.48. The fifty-day simple moving average of the company is $9.40, and its 200-day simple moving is $11.44.
The last time ) released its quarterly results was on February 28th. The insurer reported $0.30 in earnings per share for the third quarter. The company generated revenue of $57.00 millions during the third quarter. Analysts on the sell-side expect MBIA to post a -0.8 EPS in 2019.
Institutional Inflows & Outflows
A number of institutional investors and hedge funds have recently changed their positions in MBI. Advisor Group Holdings Inc. increased its holdings in MBIA shares by 9.9% during the first quarter. Advisor Group Holdings Inc. owns 19,080 of the insurance provider’s stock, valued at $293,000. This is after adding 1,714 additional shares. JPMorgan Chase & Co. increased its holdings of shares of MBIA during the first quarter by 20.4%. JPMorgan Chase & Co. owns 22,705 of the insurance provider’s stock, worth $349,000, after purchasing an additional 3,851 during the period. Bank of Montreal Can purchased a new stake of approximately $175,000 in MBIA shares during the first quarter. MetLife Investment Management LLC increased its holdings of MBIA shares by 148.7% in the first quarter. MetLife Investment Management LLC owns 25,742 of the insurance provider’s stock, worth $396,000. This is after purchasing an additional 15,390 during the period. Great West Life Assurance Co.Can increased its holdings of MBIA shares by 105.8% in the first quarter. Great West Life Assurance Co. Can owns now 2,782 of the insurance provider’s stock valued at $46,000, after purchasing an additional 1,430 during the period. 60.25 percent of the stock is owned by institutional investors.
MBIA, Inc. is a holding firm that provides financial guarantee insurance, related services, portfolio and advisory services, as well as asset management advisory services. It is organized into three business segments: U.S. Public Finance Insurance (USPFI), Corporate, and International & Structured Finance Insurance.
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