PNC Financial Services Group Inc. grew its stake in MBIA Inc. (NYSE:MBI) by 60.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,315 shares of the insurance provider’s stock after purchasing an additional 1,998 shares during the period. PNC Financial Services Group Inc.’s holdings in MBIA were worth $50,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Truehand Inc acquired a new stake in shares of MBIA in the 4th quarter valued at approximately $34,000. Bessemer Group Inc. boosted its position in MBIA by 140.4% during the 4th quarter. Bessemer Group Inc. now owns 6,850 shares of the insurance provider’s stock worth $61,000 after buying an additional 4,000 shares during the period. Prudential Financial Inc. acquired a new stake in MBIA during the 4th quarter worth approximately $118,000. Two Sigma Advisers LP acquired a new stake in MBIA during the 4th quarter worth approximately $120,000. Finally, Sand Hill Global Advisors LLC acquired a new stake in MBIA during the 1st quarter worth approximately $133,000. Institutional investors own 94.80% of the company’s stock.
NYSE:MBI traded down $0.50 during mid-day trading on Friday, hitting $9.64. 38,925 shares of the company’s stock were exchanged, compared to its average volume of 628,563. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 4.17. MBIA Inc. has a fifty-two week low of $7.95 and a fifty-two week high of $11.62.
In related news, Director Theodore Shasta sold 12,121 shares of MBIA stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $10.66, for a total transaction of $129,209.86. Following the sale, the director now directly owns 107,016 shares in the company, valued at approximately $1,140,790.56. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 6.83% of the stock is owned by company insiders.
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MBIA Company Profile
MBIA, Inc operates as holding company. Through its subsidiaries, it provides 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.
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