MBIA (NYSE:MBI) PT Lowered to $7.50 at Keefe, Bruyette & Woods

MBIA (NYSE:MBI) had its price objective dropped by equities research analysts at Keefe, Bruyette & Woods from $9.00 to $7.50 in a research report issued on Monday, Benzinga reports. The firm presently has a “market perform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ price target indicates a potential upside of 18.30% from the company’s previous close.

Several other research analysts also recently commented on MBI. Roth Capital downgraded MBIA from a “buy” rating to a “neutral” rating in a report on Friday, December 8th. StockNews.com upgraded MBIA to a “sell” rating in a report on Friday, February 23rd. Finally, Roth Mkm reduced their price objective on MBIA from $15.00 to $7.00 and set a “neutral” rating on the stock in a report on Tuesday, December 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, MBIA currently has a consensus rating of “Hold” and a consensus price target of $9.50.

MBIA Stock Performance

Shares of NYSE MBI opened at $6.34 on Monday. The business’s 50 day moving average price is $6.53 and its 200-day moving average price is $7.24. MBIA has a fifty-two week low of $5.21 and a fifty-two week high of $14.37. The company has a market cap of $325.12 million, a price-to-earnings ratio of -0.62 and a beta of 1.46.

MBIA (NYSE:MBI) last issued its quarterly earnings results on Wednesday, February 28th. The insurance provider reported ($0.16) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.20). The firm had revenue of ($31.00) million during the quarter, compared to analysts’ expectations of $32.00 million. During the same quarter last year, the firm posted $0.30 EPS. Sell-side analysts predict that MBIA will post -0.3 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Advisor Group Holdings Inc. boosted its position in shares of MBIA by 9.9% in the 1st quarter. Advisor Group Holdings Inc. now owns 19,080 shares of the insurance provider’s stock worth $293,000 after purchasing an additional 1,714 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of MBIA by 20.4% in the 1st quarter. JPMorgan Chase & Co. now owns 22,705 shares of the insurance provider’s stock worth $349,000 after purchasing an additional 3,851 shares in the last quarter. Bank of Montreal Can acquired a new stake in shares of MBIA in the 1st quarter worth $175,000. MetLife Investment Management LLC boosted its position in shares of MBIA by 148.7% in the 1st quarter. MetLife Investment Management LLC now owns 25,742 shares of the insurance provider’s stock worth $396,000 after purchasing an additional 15,390 shares in the last quarter. Finally, Great West Life Assurance Co. Can boosted its position in shares of MBIA by 105.8% in the 1st quarter. Great West Life Assurance Co. Can now owns 2,782 shares of the insurance provider’s stock worth $46,000 after purchasing an additional 1,430 shares in the last quarter. 60.95% of the stock is currently owned by hedge funds and other institutional investors.

MBIA Company Profile

MBIA Inc provides financial guarantee insurance services to public finance markets in the United States. It operates 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.