MBIA Inc. (NYSE:MBI) Shares Bought by State Street Corp

State Street Corp increased its stake in MBIA Inc. (NYSE:MBI) by 3.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,015,523 shares of the insurance provider’s stock after purchasing an additional 35,104 shares during the quarter. State Street Corp’s holdings in MBIA were worth $3,625,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MBI. BNP Paribas Financial Markets grew its stake in shares of MBIA by 26.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 9,943 shares of the insurance provider’s stock worth $35,000 after purchasing an additional 2,090 shares during the last quarter. Seelaus Asset Management LLC acquired a new position in shares of MBIA in the 3rd quarter worth $45,000. Quantbot Technologies LP lifted its holdings in shares of MBIA by 476.5% during the third quarter. Quantbot Technologies LP now owns 14,257 shares of the insurance provider’s stock valued at $51,000 after purchasing an additional 11,784 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in MBIA during the 2nd quarter worth about $83,000. Finally, SG Americas Securities LLC lifted its stake in MBIA by 18.7% during the third quarter. SG Americas Securities LLC now owns 74,919 shares of the insurance provider’s stock valued at $267,000 after buying an additional 11,811 shares in the last quarter. 60.95% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on MBI. StockNews.com upgraded shares of MBIA from a “sell” rating to a “hold” rating in a research report on Tuesday, December 17th. Keefe, Bruyette & Woods upgraded MBIA from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $6.50 to $9.00 in a research report on Monday, November 18th.

Insider Activity at MBIA

In other news, Director Richard C. Vaughan sold 9,000 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $6.59, for a total transaction of $59,310.00. Following the completion of the transaction, the director now owns 65,635 shares of the company’s stock, valued at approximately $432,534.65. This represents a 12.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 12.58% of the stock is currently owned by company insiders.

MBIA Price Performance

NYSE MBI opened at $6.23 on Tuesday. The firm has a market cap of $317.92 million, a P/E ratio of -0.55 and a beta of 1.61. The stock’s 50-day moving average is $5.59 and its two-hundred day moving average is $4.72. MBIA Inc. has a fifty-two week low of $3.22 and a fifty-two week high of $7.16.

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.