North Star Asset Management Inc. continued to hold its stake in MBIA Inc. (NYSE:MBI) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 159,171 shares of the company’s stock at the end of the second quarter. North Star Asset Management Inc.’s holdings in MBIA were worth $1,409,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of the company. Deprince Race & Zollo Inc. acquired a new stake in MBIA during the second quarter valued at about $205,000. First Midwest Bank Trust Division increased its stake in shares of MBIA by 45.0% in the second quarter. First Midwest Bank Trust Division now owns 94,502 shares of the company’s stock worth $645,000 after buying an additional 29,338 shares during the period. Old Mutual Global Investors UK Ltd. increased its stake in shares of MBIA by 277.2% in the second quarter. Old Mutual Global Investors UK Ltd. now owns 1,596,843 shares of the company’s stock worth $10,906,000 after buying an additional 1,173,535 shares during the period. Nordea Investment Management AB increased its stake in shares of MBIA by 107.5% in the second quarter. Nordea Investment Management AB now owns 942,950 shares of the company’s stock worth $6,440,000 after buying an additional 488,560 shares during the period. Finally, BNP Paribas Arbitrage SA increased its stake in shares of MBIA by 100.0% in the second quarter. BNP Paribas Arbitrage SA now owns 38,326 shares of the company’s stock worth $262,000 after buying an additional 19,166 shares during the period. Institutional investors own 90.82% of the company’s stock.
MBIA Inc. (NYSE:MBI) traded down 2.90% on Tuesday, reaching $7.70. The company had a trading volume of 455,036 shares. MBIA Inc. has a one year low of $5.26 and a one year high of $9.49. The company has a 50-day moving average of $7.86 and a 200 day moving average of $7.69. The stock’s market cap is $1.04 billion.
MBIA (NYSE:MBI) last released its quarterly earnings results on Monday, August 8th. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.02. The company earned $118 million during the quarter, compared to the consensus estimate of $75.25 million. MBIA had a positive return on equity of 1.77% and a negative net margin of 10.76%. The firm’s revenue was down 51.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.11 EPS. On average, equities research analysts predict that MBIA Inc. will post $0.47 EPS for the current year.
A number of equities research analysts have recently weighed in on the company. MKM Partners reiterated a “buy” rating and issued a $12.00 price target on shares of MBIA in a report on Thursday, June 16th. BTIG Research reiterated a “buy” rating and issued a $14.00 price target on shares of MBIA in a report on Wednesday, September 7th. Finally, S&P Equity Research reiterated a “positive” rating on shares of MBIA in a report on Wednesday, June 15th.
MBIA Inc (MBIA) is a holding company. The Company, through its subsidiary, National Public Finance Guarantee Corporation (National), is engaged in providing financial guarantee insurance to the United States public finance markets. MBIA’s segments include United States (U.S.) public finance insurance, international and structured finance insurance, and corporate.
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