Prudential Financial Inc. raised its stake in shares of MBIA Inc. (NYSE:MBI) by 44.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 711,725 shares of the company’s stock after buying an additional 218,400 shares during the period. Prudential Financial Inc. owned about 0.52% of MBIA worth $4,861,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in MBI. Teacher Retirement System of Texas raised its stake in shares of MBIA by 14.7% in the second quarter. Teacher Retirement System of Texas now owns 18,267 shares of the company’s stock valued at $125,000 after buying an additional 2,342 shares during the period. Oppenheimer & Co. Inc. raised its position in MBIA by 10.5% in the second quarter. Oppenheimer & Co. Inc. now owns 30,400 shares of the company’s stock worth $207,000 after buying an additional 2,900 shares during the last quarter. Ameriprise Financial Inc. raised its position in MBIA by 0.8% in the second quarter. Ameriprise Financial Inc. now owns 495,147 shares of the company’s stock worth $3,382,000 after buying an additional 3,850 shares during the last quarter. Alpine Investment Management LLC raised its position in MBIA by 15.7% in the second quarter. Alpine Investment Management LLC now owns 51,600 shares of the company’s stock worth $352,000 after buying an additional 7,000 shares during the last quarter. Finally, BlackRock Inc. raised its position in MBIA by 89.5% in the first quarter. BlackRock Inc. now owns 19,909 shares of the company’s stock worth $177,000 after buying an additional 9,403 shares during the last quarter. Institutional investors own 90.82% of the company’s stock.
MBIA Inc. (NYSE:MBI) opened at 7.64 on Friday. The stock has a 50 day moving average of $7.81 and a 200 day moving average of $7.69. MBIA Inc. has a 12-month low of $5.26 and a 12-month high of $9.49. The stock’s market cap is $1.04 billion.
MBIA (NYSE:MBI) last announced its quarterly earnings data on Monday, August 8th. The company reported $0.12 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.10 by $0.02. The firm earned $118 million during the quarter, compared to analyst estimates of $75.25 million. MBIA had a negative net margin of 10.76% and a positive return on equity of 1.77%. MBIA’s revenue was down 51.8% on a year-over-year basis. During the same period last year, the firm posted $0.11 EPS. On average, equities research analysts anticipate that MBIA Inc. will post $0.47 earnings per share for the current fiscal year.
Separately, BTIG Research reiterated a “buy” rating and issued a $14.00 price target on shares of MBIA in a research report on Wednesday, September 7th.
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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