Smithfield Trust Co. cut its position in shares of MBIA Inc. (NYSE:MBI) by 1.2% during the second quarter, according to its most recent filing with the SEC. The firm owned 41,027 shares of the company’s stock after selling 509 shares during the period. Smithfield Trust Co.’s holdings in MBIA were worth $280,000 as of its most recent filing with the SEC.
Other large investors have also recently modified their holdings of the company. Nordea Investment Management AB boosted its stake in shares of MBIA by 107.5% in the second quarter. Nordea Investment Management AB now owns 942,950 shares of the company’s stock worth $6,440,000 after buying an additional 488,560 shares during the last quarter. Alpine Investment Management LLC boosted its stake in shares of 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. Quantitative Systematic Strategies LLC purchased a new stake in shares of MBIA during the second quarter worth about $169,000. Deprince Race & Zollo Inc. purchased a new stake in shares of MBIA during the second quarter worth about $205,000. Finally, First Midwest Bank Trust Division boosted its stake in shares of MBIA by 45.0% in the second quarter. First Midwest Bank Trust Division now owns 94,502 shares of the company’s stock worth $645,000 after buying an additional 29,338 shares during the last quarter. 90.81% of the stock is currently owned by institutional investors.
Shares of MBIA Inc. (NYSE:MBI) traded up 2.0421% on Tuesday, reaching $7.9899. 341,767 shares of the company were exchanged. The firm’s market capitalization is $1.08 billion. MBIA Inc. has a 12-month low of $5.26 and a 12-month high of $9.49. The company’s 50 day moving average is $7.81 and its 200 day moving average is $7.66.
MBIA (NYSE:MBI) last posted its quarterly earnings results on Monday, August 8th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.02. The business earned $118 million during the quarter, compared to analysts’ expectations of $75.25 million. MBIA had a negative net margin of 10.76% and a positive return on equity of 1.77%. The business’s quarterly revenue was down 51.8% on a year-over-year basis. During the same period last year, the company posted $0.11 earnings per share. Analysts forecast that MBIA Inc. will post $0.47 earnings per share for the current year.
Separately, BTIG Research reaffirmed a “buy” rating and issued a $14.00 target price on shares of MBIA in a 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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