MBIA Inc. (NYSE:MBI) Shares Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp boosted its stake in MBIA Inc. (NYSE:MBI) by 10.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 200,447 shares of the insurance provider’s stock after acquiring an additional 19,753 shares during the period. Bank of New York Mellon Corp owned 0.39% of MBIA worth $1,100,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Principal Securities Inc. bought a new stake in shares of MBIA in the 4th quarter valued at approximately $25,000. Neuberger Berman Group LLC increased its stake in MBIA by 21.6% during the fourth quarter. Neuberger Berman Group LLC now owns 12,910 shares of the insurance provider’s stock valued at $79,000 after purchasing an additional 2,295 shares during the last quarter. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of MBIA during the fourth quarter worth $80,000. Park Avenue Securities LLC lifted its position in shares of MBIA by 11.0% in the 1st quarter. Park Avenue Securities LLC now owns 24,700 shares of the insurance provider’s stock worth $167,000 after buying an additional 2,444 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of MBIA in the 1st quarter valued at about $284,000. 60.95% of the stock is currently owned by institutional investors.

MBIA Price Performance

Shares of MBIA stock opened at $3.72 on Friday. MBIA Inc. has a 1-year low of $3.22 and a 1-year high of $14.37. The business’s fifty day moving average price is $4.01 and its two-hundred day moving average price is $5.34. The company has a market capitalization of $190.75 million, a P/E ratio of -0.37 and a beta of 1.44.

MBIA (NYSE:MBI) last posted its quarterly earnings data on Tuesday, August 6th. The insurance provider reported ($2.90) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($2.75). The company had revenue of ($37.00) million for the quarter, compared to analyst estimates of $29.00 million. During the same period in the prior year, the firm earned ($0.45) earnings per share. On average, research analysts expect that MBIA Inc. will post -3.75 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on MBI shares. Keefe, Bruyette & Woods dropped their price objective on shares of MBIA from $7.50 to $6.50 and set a “market perform” rating on the stock in a research note on Friday, May 31st. Roth Mkm dropped their price objective on shares of MBIA from $7.00 to $4.50 and set a “neutral” rating on the stock in a report on Wednesday, August 7th.

MBIA Profile

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.