Geode Capital Management LLC Trims Position in MBIA Inc. (NYSE:MBI)

Geode Capital Management LLC trimmed its position in MBIA Inc. (NYSE:MBI) by 6.0% during the third quarter, HoldingsChannel reports. The institutional investor owned 980,450 shares of the insurance provider’s stock after selling 62,950 shares during the period. Geode Capital Management LLC’s holdings in MBIA were worth $3,501,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of MBI. BNP Paribas Financial Markets increased its stake in 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 acquiring an additional 2,090 shares during the last quarter. Seelaus Asset Management LLC bought a new position in shares of MBIA in the third quarter worth approximately $45,000. Quantbot Technologies LP increased its position in shares of MBIA by 476.5% in the third quarter. Quantbot Technologies LP now owns 14,257 shares of the insurance provider’s stock worth $51,000 after purchasing an additional 11,784 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in MBIA in the second quarter valued at approximately $83,000. Finally, K2 Principal Fund L.P. bought a new stake in MBIA during the third quarter valued at approximately $173,000. 60.95% of the stock is currently owned by institutional investors.

MBIA Price Performance

Shares of NYSE MBI opened at $7.04 on Tuesday. The stock has a market capitalization of $359.25 million, a P/E ratio of -0.62 and a beta of 1.62. MBIA Inc. has a one year low of $3.22 and a one year high of $7.16. The firm’s 50 day simple moving average is $5.93 and its two-hundred day simple moving average is $4.76.

Analyst Upgrades and Downgrades

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

Insider Activity at MBIA

In related news, Director Richard C. Vaughan sold 9,000 shares of MBIA stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $6.59, for a total value of $59,310.00. Following the transaction, the director now directly owns 65,635 shares of the company’s stock, valued at $432,534.65. The trade was a 12.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Theodore Shasta sold 9,570 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $6.74, for a total transaction of $64,501.80. Following the sale, the director now directly owns 61,794 shares of the company’s stock, valued at $416,491.56. The trade was a 13.41 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,831 shares of company stock valued at $192,842. Insiders own 12.58% of the company’s stock.

About MBIA

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.