Legal & General Group Plc lowered its holdings in shares of MBIA Inc. (NYSE:MBI) by 17.9% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 105,613 shares of the insurance provider’s stock after selling 22,973 shares during the period. Legal & General Group Plc owned 0.14% of MBIA worth $754,000 as of its most recent filing with the SEC.
A number of other institutional investors have also bought and sold shares of MBI. Point72 Hong Kong Ltd grew its holdings in MBIA by 1,300.8% during the fourth quarter. Point72 Hong Kong Ltd now owns 5,323 shares of the insurance provider’s stock worth $50,000 after purchasing an additional 4,943 shares during the period. Great West Life Assurance Co. Can acquired a new stake in MBIA during the fourth quarter worth approximately $52,000. Nisa Investment Advisors LLC acquired a new stake in MBIA during the first quarter worth approximately $67,000. ProShare Advisors LLC acquired a new stake in MBIA during the fourth quarter worth approximately $95,000. Finally, Bank of Montreal Can lifted its position in MBIA by 23.9% during the fourth quarter. Bank of Montreal Can now owns 10,909 shares of the insurance provider’s stock worth $101,000 after acquiring an additional 2,104 shares during the last quarter. Institutional investors and hedge funds own 88.39% of the company’s stock.
In other MBIA news, Director Theodore Shasta sold 18,689 shares of the company’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $6.99, for a total transaction of $130,636.11. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 8.81% of the company’s stock.
Separately, ValuEngine downgraded shares of MBIA from a “hold” rating to a “sell” rating in a research report on Tuesday, April 7th.
NYSE MBI opened at $7.15 on Wednesday. The firm’s fifty day moving average price is $7.04 and its two-hundred day moving average price is $8.04. The stock has a market cap of $462.39 million, a PE ratio of -0.80 and a beta of 1.02. MBIA Inc. has a fifty-two week low of $4.93 and a fifty-two week high of $10.90. The company has a debt-to-equity ratio of 5.88, a quick ratio of 1.68 and a current ratio of 1.68.
MBIA (NYSE:MBI) last issued its quarterly earnings data on Monday, May 11th. The insurance provider reported ($0.65) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.48). MBIA had a negative return on equity of 11.99% and a negative net margin of 128.21%. The business had revenue of ($6.00) million during the quarter, compared to the consensus estimate of $44.63 million. During the same period in the prior year, the firm earned $0.45 EPS.
MBIA Inc provides financial guarantee insurance services to public finance markets. It operates through 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.
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