Great West Life Assurance Co. Can continued to hold its position in shares of MBIA, Inc. (NYSE:MBI) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,208 shares of the insurance provider’s stock at the end of the second quarter. Great West Life Assurance Co. Can’s holdings in MBIA were worth $152,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MBI. Teachers Advisors LLC raised its holdings in MBIA by 1.1% during the fourth quarter. Teachers Advisors LLC now owns 213,402 shares of the insurance provider’s stock worth $2,283,000 after purchasing an additional 2,277 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in MBIA by 72.3% during the first quarter. Russell Investments Group Ltd. now owns 776,190 shares of the insurance provider’s stock worth $6,574,000 after purchasing an additional 325,752 shares in the last quarter. First Trust Advisors LP raised its holdings in MBIA by 104.9% during the first quarter. First Trust Advisors LP now owns 229,277 shares of the insurance provider’s stock worth $1,942,000 after purchasing an additional 117,365 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in MBIA by 11.6% during the first quarter. Bank of New York Mellon Corp now owns 743,501 shares of the insurance provider’s stock worth $6,297,000 after purchasing an additional 77,366 shares in the last quarter. Finally, UBS Asset Management Americas Inc. raised its holdings in MBIA by 20.4% during the first quarter. UBS Asset Management Americas Inc. now owns 105,775 shares of the insurance provider’s stock worth $896,000 after purchasing an additional 17,886 shares in the last quarter. 92.03% of the stock is owned by hedge funds and other institutional investors.

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MBIA, Inc. (NYSE:MBI) opened at 10.39 on Friday. The stock’s market capitalization is $1.31 billion. The company’s 50-day moving average is $10.14 and its 200 day moving average is $9.20. MBIA, Inc. has a 12-month low of $7.15 and a 12-month high of $11.65.

MBIA (NYSE:MBI) last issued its quarterly earnings data on Tuesday, August 8th. The insurance provider reported ($1.09) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($1.10). The company had revenue of $72.00 million for the quarter, compared to analysts’ expectations of $87.85 million. The firm’s revenue was down 39.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.12 EPS. On average, analysts predict that MBIA, Inc. will post ($0.76) EPS for the current year.

MBIA announced that its Board of Directors has authorized a stock buyback plan on Tuesday, June 27th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the insurance provider to purchase up to 21.7% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Several research firms recently issued reports on MBI. BTIG Research reissued a “buy” rating and set a $14.00 price target on shares of MBIA in a report on Wednesday, September 6th. BidaskClub cut shares of MBIA from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Finally, MKM Partners reissued a “buy” rating and set a $15.00 price target on shares of MBIA in a report on Friday, August 11th.

In other news, Director Steven J. Gilbert acquired 50,000 shares of the business’s stock in a transaction that occurred on Monday, June 19th. The shares were purchased at an average cost of $8.96 per share, for a total transaction of $448,000.00. Following the transaction, the director now directly owns 132,073 shares in the company, valued at approximately $1,183,374.08. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Charles R. Rinehart acquired 40,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 28th. The stock was purchased at an average price of $9.25 per share, for a total transaction of $370,000.00. Following the completion of the transaction, the director now owns 212,592 shares in the company, valued at $1,966,476. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 177,033 shares of company stock worth $1,589,112. 4.11% of the stock is currently owned by insiders.

MBIA Company Profile

MBIA Inc is a holding company. The Company, through its subsidiaries, is engaged in the financial guarantee insurance businesses in the industry. The Company manages its business within three segments: United States (U.S.) public finance insurance; corporate, and international and structured finance insurance.

Institutional Ownership by Quarter for MBIA (NYSE:MBI)

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