Vanguard Group Inc. Cuts Stock Holdings in MBIA Inc. (NYSE:MBI)

Vanguard Group Inc. lessened its holdings in shares of MBIA Inc. (NYSE:MBI) by 4.8% in the 4th quarter, Holdings Channel reports. The fund owned 2,389,770 shares of the insurance provider’s stock after selling 120,979 shares during the quarter. Vanguard Group Inc.’s holdings in MBIA were worth $15,438,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in MBI. BNP Paribas Financial Markets lifted its holdings in MBIA by 26.6% in the third quarter. BNP Paribas Financial Markets now owns 9,943 shares of the insurance provider’s stock valued at $35,000 after acquiring an additional 2,090 shares during the last quarter. HighTower Advisors LLC increased its stake in shares of MBIA by 7.0% during the fourth quarter. HighTower Advisors LLC now owns 30,597 shares of the insurance provider’s stock worth $198,000 after buying an additional 2,000 shares during the period. Barclays PLC boosted its position in shares of MBIA by 279.1% during the 3rd quarter. Barclays PLC now owns 58,406 shares of the insurance provider’s stock worth $209,000 after acquiring an additional 42,998 shares in the last quarter. Jane Street Group LLC lifted its position in shares of MBIA by 70.5% during the 3rd quarter. Jane Street Group LLC now owns 78,814 shares of the insurance provider’s stock worth $281,000 after buying an additional 32,591 shares during the last quarter. Finally, Freestone Capital Holdings LLC acquired a new position in MBIA during the fourth quarter worth approximately $1,159,000. Hedge funds and other institutional investors own 60.95% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com downgraded MBIA from a “hold” rating to a “sell” rating in a research note on Wednesday, January 8th.

MBIA Trading Up 9.2 %

Shares of MBIA stock opened at $4.35 on Friday. The company has a 50-day moving average of $5.49 and a two-hundred day moving average of $5.55. The stock has a market cap of $218.96 million, a PE ratio of -0.38 and a beta of 1.80. MBIA Inc. has a 12-month low of $3.22 and a 12-month high of $7.46.

MBIA (NYSE:MBI) last released its quarterly earnings results on Thursday, February 27th. The insurance provider reported ($0.48) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($0.17). The business had revenue of $29.00 million during the quarter, compared to the consensus estimate of $28.70 million. On average, sell-side analysts forecast that MBIA Inc. will post -3.5 EPS for the current fiscal year.

About MBIA

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.