MBIA (NYSE:MBI – Get Rating) had its price objective hoisted by equities research analysts at Keefe, Bruyette & Woods from $9.00 to $13.00 in a report issued on Sunday, The Fly reports. Keefe, Bruyette & Woods’ price target suggests a potential downside of 4.48% from the stock’s current price.
Separately, TheStreet downgraded shares of MBIA from a “c-” rating to a “d+” rating in a research report on Tuesday, November 30th.
Shares of MBIA stock traded down $0.18 on Friday, reaching $13.61. The stock had a trading volume of 267,569 shares, compared to its average volume of 500,258. The firm’s 50 day moving average price is $14.64. MBIA has a 1 year low of $8.53 and a 1 year high of $17.90. The stock has a market cap of $743.17 million, a PE ratio of -1.51 and a beta of 1.06.
MBIA (NYSE:MBI – Get Rating) last issued its quarterly earnings data on Monday, February 28th. The insurance provider reported ($2.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.46) by ($1.67). MBIA had a negative return on equity of 156.01% and a negative net margin of 235.45%.
A number of large investors have recently added to or reduced their stakes in MBI. Goldman Sachs Group Inc. grew its position in MBIA by 16.3% during the 2nd quarter. Goldman Sachs Group Inc. now owns 537,260 shares of the insurance provider’s stock worth $5,910,000 after purchasing an additional 75,464 shares during the last quarter. State Street Corp lifted its stake in MBIA by 0.8% during the 2nd quarter. State Street Corp now owns 1,110,182 shares of the insurance provider’s stock valued at $12,212,000 after acquiring an additional 8,468 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in MBIA by 2.7% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 969,190 shares of the insurance provider’s stock valued at $10,662,000 after acquiring an additional 25,840 shares during the period. Credit Suisse AG lifted its stake in MBIA by 16.9% during the 2nd quarter. Credit Suisse AG now owns 54,249 shares of the insurance provider’s stock valued at $592,000 after acquiring an additional 7,860 shares during the period. Finally, Morgan Stanley lifted its stake in MBIA by 455.8% during the 2nd quarter. Morgan Stanley now owns 354,550 shares of the insurance provider’s stock valued at $3,900,000 after acquiring an additional 290,756 shares during the period. 69.33% of the stock is currently owned by institutional investors.
MBIA Company Profile
MBIA, Inc is a holding company, which engages in the provision of financial guarantee insurance, related reinsurance, advisory and portfolio services, and asset management advisory services. It operates through the following business segments: U.S. Public Finance Insurance, Corporate, and International and Structured Finance Insurance.