First Trust Advisors LP acquired a new position in MBIA Inc. (NYSE:MBI) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 190,833 shares of the company’s stock, valued at approximately $1,303,000. First Trust Advisors LP owned approximately 0.14% of MBIA as of its most recent filing with the SEC.
Other institutional investors have also recently made changes to their positions in the company. Meeder Asset Management Inc. bought a new position in shares of MBIA during the first quarter worth about $165,000. BlackRock Inc. increased its position in shares of 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 in the last quarter. Quantitative Systematic Strategies LLC bought a new position in shares of MBIA during the second quarter worth about $169,000. Deprince Race & Zollo Inc. bought a new position in shares of MBIA during the second quarter worth about $205,000. Finally, BNP Paribas Arbitrage SA increased its position 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 in the last quarter. Institutional investors own 90.82% of the company’s stock.
MBIA Inc. (NYSE:MBI) traded up 3.45% during midday trading on Friday, hitting $7.79. 1,509,570 shares of the company’s stock traded hands. The company’s market capitalization is $1.06 billion. MBIA Inc. has a 52 week low of $5.26 and a 52 week high of $9.49. The company has a 50 day moving average of $7.91 and a 200-day moving average of $7.76.
MBIA (NYSE:MBI) last announced its quarterly earnings results on Monday, August 8th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.02. MBIA had a negative net margin of 10.76% and a positive return on equity of 1.77%. The company earned $118 million during the quarter, compared to the consensus estimate of $75.25 million. During the same quarter in the previous year, the company posted $0.11 earnings per share. The company’s revenue for the quarter was down 51.8% compared to the same quarter last year. Equities research analysts predict that MBIA Inc. will post $0.47 earnings per share for the current year.
A number of equities analysts have recently issued reports on the stock. BTIG Research reiterated a “buy” rating and issued a $14.00 price target on shares of MBIA in a report on Wednesday, June 22nd. S&P Equity Research reiterated a “positive” rating on shares of MBIA in a report on Wednesday, June 15th. Finally, MKM Partners reiterated a “buy” rating and issued a $12.00 price target on shares of MBIA in a report on Thursday, June 16th.
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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