MBIA, Inc. (NYSE:MBI) Shares Purchased by TCW Group Inc.

Key Points

• TCW Group Inc. increased its stake in MBIA, Inc. by 12.7%, now owning approximately 1.58% of the company valued at nearly $4 million.
• MBIA reported a significant earnings miss for the last quarter, with a loss of ($0.16) EPS against an expected ($0.07), and revenue of $14 million compared to estimates of $21 million.
• Keefe, Bruyette & Woods downgraded MBIA's price target from $9.00 to $8.00, while maintaining an "outperform" rating on the stock.

TCW Group Inc. boosted its position in shares of MBIA, Inc. (NYSE:MBI - Free Report) by 12.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 796,560 shares of the insurance provider's stock after purchasing an additional 90,000 shares during the period. TCW Group Inc. owned approximately 1.58% of MBIA worth $3,967,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Aquatic Capital Management LLC purchased a new stake in shares of MBIA during the 4th quarter valued at approximately $50,000. Kahn Brothers Group Inc. purchased a new stake in MBIA in the fourth quarter valued at $68,000. Nebula Research & Development LLC purchased a new stake in MBIA in the fourth quarter valued at $77,000. ProShare Advisors LLC acquired a new position in shares of MBIA in the 4th quarter valued at $81,000. Finally, Dupree Financial Group LLC purchased a new position in shares of MBIA during the 1st quarter worth $124,000. 60.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods reduced their price objective on shares of MBIA from $9.00 to $8.00 and set an "outperform" rating on the stock in a report on Tuesday, April 29th.

MBIA Stock Performance

MBIA stock opened at $4.95 on Monday. The company has a market capitalization of $249.08 million, a PE ratio of -0.56 and a beta of 1.84. MBIA, Inc. has a fifty-two week low of $3.22 and a fifty-two week high of $7.46. The firm has a 50 day moving average price of $4.46 and a 200 day moving average price of $5.14.

MBIA (NYSE:MBI - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The insurance provider reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.09). The firm had revenue of $14.00 million during the quarter, compared to analyst estimates of $21.00 million. During the same period in the prior year, the company posted ($0.52) EPS. As a group, equities research analysts forecast that MBIA, Inc. will post -3.5 earnings per share for the current year.

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.

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