State Board of Administration of Florida Retirement System continued to hold its position in MBIA Inc. (NYSE:MBI) during the second quarter, Holdings Channel reports. The firm owned 118,243 shares of the company’s stock at the end of the second quarter. State Board of Administration of Florida Retirement System owned approximately 0.09% of MBIA worth $808,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. increased its stake 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 during the last quarter. Nordea Investment Management AB increased 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 valued at $6,440,000 after buying an additional 488,560 shares in the last quarter. Prudential Financial Inc. increased its stake in shares of MBIA by 46.9% in the first quarter. Prudential Financial Inc. now owns 493,325 shares of the company’s stock valued at $4,366,000 after buying an additional 157,600 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of MBIA during the first quarter valued at $165,000. Finally, HBK Investments L P acquired a new stake in shares of MBIA during the first quarter valued at $526,000. 90.82% of the stock is currently owned by institutional investors and hedge funds.
Shares of MBIA Inc. (NYSE:MBI) traded up 2.13% on Wednesday, hitting $7.68. The stock had a trading volume of 626,470 shares. MBIA Inc. has a 52-week low of $5.26 and a 52-week high of $9.49. The firm’s 50-day moving average price is $7.96 and its 200 day moving average price is $7.78. The firm’s market cap is $1.04 billion.
MBIA (NYSE:MBI) last posted its quarterly earnings data on Monday, August 8th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.10 by $0.02. The firm had revenue of $118 million for the quarter, compared to the consensus estimate of $75.25 million. MBIA had a positive return on equity of 1.77% and a negative net margin of 10.76%. The company’s quarterly revenue was down 51.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.11 EPS. On average, equities research analysts predict that MBIA Inc. will post $0.47 EPS for the current year.
Several equities research analysts have weighed in on MBI shares. S&P Equity Research reissued a “positive” rating on shares of MBIA in a report on Wednesday, June 15th. MKM Partners reissued a “buy” rating and issued a $12.00 price target on shares of MBIA in a report on Thursday, June 16th. Finally, BTIG Research reissued a “buy” rating and issued a $14.00 price target on shares of MBIA in a report on Wednesday, June 22nd.
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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