State Board of Administration of Florida Retirement System maintained its stake in MBIA Inc. (NYSE:MBI) during the fourth quarter, Holdings Channel reports. The firm owned 118,243 shares of the company’s stock at the end of the fourth quarter. State Board of Administration of Florida Retirement System’s holdings in MBIA were worth $1,265,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the company. Royal Bank of Canada increased its stake in MBIA by 2.2% in the second quarter. Royal Bank of Canada now owns 353,394 shares of the company’s stock valued at $2,414,000 after buying an additional 7,596 shares during the last quarter. Wells Fargo & Company MN increased its position in MBIA by 6.9% in the third quarter. Wells Fargo & Company MN now owns 96,349 shares of the company’s stock worth $751,000 after buying an additional 6,184 shares in the last quarter. Nordea Investment Management AB increased its position in MBIA by 2.6% in the third quarter. Nordea Investment Management AB now owns 967,470 shares of the company’s stock worth $7,537,000 after buying an additional 24,520 shares in the last quarter. Victory Capital Management Inc. increased its position in MBIA by 23.5% in the third quarter. Victory Capital Management Inc. now owns 2,634,005 shares of the company’s stock worth $20,519,000 after buying an additional 501,371 shares in the last quarter. Finally, KBC Group NV increased its position in MBIA by 565.0% in the third quarter. KBC Group NV now owns 50,206 shares of the company’s stock worth $391,000 after buying an additional 42,656 shares in the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.
MBIA Inc. (NYSE:MBI) opened at 8.42 on Tuesday. MBIA Inc. has a 52-week low of $6.34 and a 52-week high of $11.65. The firm’s market capitalization is $1.13 billion. The company’s 50-day moving average is $10.09 and its 200-day moving average is $9.44.
MBIA (NYSE:MBI) last released its earnings results on Wednesday, March 1st. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.11 by $0.16. MBIA had a return on equity of 1.26% and a net margin of 1.23%. During the same quarter last year, the business earned $0.07 EPS. On average, analysts predict that MBIA Inc. will post $0.24 EPS for the current year.
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MBI has been the subject of a number of research reports. MKM Partners restated a “buy” rating and set a $15.00 target price on shares of MBIA in a research report on Thursday, March 2nd. TheStreet upgraded shares of MBIA from a “sell” rating to a “hold” rating in a research report on Tuesday, December 13th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $12.50.
MBIA Company Profile
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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