Kahn Brothers Group Inc. DE Buys 1,202,254 Shares of MBIA Inc. (NYSE:MBI)

Kahn Brothers Group Inc. DE raised its stake in shares of MBIA Inc. (NYSE:MBI) by 27.2% during the second quarter, HoldingsChannel reports. The firm owned 5,614,736 shares of the insurance provider’s stock after purchasing an additional 1,202,254 shares during the quarter. MBIA makes up about 6.5% of Kahn Brothers Group Inc. DE’s investment portfolio, making the stock its 8th largest position. Kahn Brothers Group Inc. DE owned about 0.06% of MBIA worth $52,273,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Thompson Siegel & Walmsley LLC increased its stake in MBIA by 140.7% during the 1st quarter. Thompson Siegel & Walmsley LLC now owns 1,097,237 shares of the insurance provider’s stock valued at $10,446,000 after purchasing an additional 641,382 shares in the last quarter. Bank of America Corp DE increased its stake in shares of MBIA by 6.4% in the fourth quarter. Bank of America Corp DE now owns 305,337 shares of the insurance provider’s stock worth $2,723,000 after acquiring an additional 18,411 shares during the period. Swiss National Bank increased its stake in shares of MBIA by 2.1% in the second quarter. Swiss National Bank now owns 160,300 shares of the insurance provider’s stock worth $1,492,000 after acquiring an additional 3,300 shares during the period. Starr International Co. Inc. acquired a new stake in shares of MBIA in the first quarter worth $1,439,000. Finally, Norges Bank acquired a new stake in shares of MBIA in the fourth quarter worth $551,000. Institutional investors and hedge funds own 90.56% of the company’s stock.

A number of analysts have recently weighed in on the stock. BTIG Research reiterated a “buy” rating and issued a $14.00 price objective on shares of MBIA in a research note on Sunday, August 11th. TheStreet lowered shares of MBIA from a “c-” rating to a “d+” rating in a research note on Wednesday, July 31st.

Shares of NYSE:MBI traded up $0.01 during midday trading on Tuesday, reaching $9.28. The company’s stock had a trading volume of 151,642 shares, compared to its average volume of 789,637. The firm has a market capitalization of $784.00 million, a PE ratio of 23.13 and a beta of 1.30. MBIA Inc. has a twelve month low of $7.95 and a twelve month high of $11.53. The stock has a fifty day moving average of $9.33 and a 200 day moving average of $9.54. The company has a quick ratio of 1.89, a current ratio of 1.89 and a debt-to-equity ratio of 3.13.

MBIA (NYSE:MBI) last released its quarterly earnings data on Tuesday, August 6th. The insurance provider reported ($0.90) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.14) by ($0.76). The firm had revenue of $30.00 million for the quarter, compared to analysts’ expectations of $51.43 million. During the same quarter in the prior year, the firm earned ($0.58) EPS.

MBIA Profile

MBIA Inc provides financial guarantee insurance services to public finance markets. It operates through 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.

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Institutional Ownership by Quarter for MBIA (NYSE:MBI)

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