TCW Group Inc. Buys 90,000 Shares of MBIA, Inc. (NYSE:MBI)

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. grew its holdings in shares of MBIA, Inc. (NYSE:MBI - Free Report) by 12.7% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 796,560 shares of the insurance provider's stock after buying an additional 90,000 shares during the period. TCW Group Inc. owned approximately 1.58% of MBIA worth $3,967,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of MBI. Janney Montgomery Scott LLC bought a new position in shares of MBIA in the 1st quarter worth $205,000. Barclays PLC lifted its stake in MBIA by 102.9% during the 4th quarter. Barclays PLC now owns 118,511 shares of the insurance provider's stock valued at $766,000 after acquiring an additional 60,105 shares in the last quarter. Two Sigma Advisers LP lifted its stake in MBIA by 171.3% during the 4th quarter. Two Sigma Advisers LP now owns 123,850 shares of the insurance provider's stock valued at $800,000 after acquiring an additional 78,200 shares in the last quarter. Two Sigma Investments LP lifted its stake in MBIA by 49.0% during the 4th quarter. Two Sigma Investments LP now owns 380,182 shares of the insurance provider's stock valued at $2,456,000 after acquiring an additional 125,039 shares in the last quarter. Finally, Deutsche Bank AG lifted its stake in MBIA by 63.2% during the 4th quarter. Deutsche Bank AG now owns 50,033 shares of the insurance provider's stock valued at $323,000 after acquiring an additional 19,379 shares in the last quarter. 60.95% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

MBIA Trading Up 2.3%

Shares of NYSE:MBI traded up $0.12 during midday trading on Thursday, reaching $5.18. The company had a trading volume of 115,323 shares, compared to its average volume of 318,416. The company's 50 day moving average price is $4.49 and its 200 day moving average price is $5.13. The stock has a market cap of $260.66 million, a P/E ratio of -0.58 and a beta of 1.84. MBIA, Inc. has a 52-week low of $3.22 and a 52-week high of $7.46.

MBIA (NYSE:MBI - Get Free Report) last released its quarterly earnings data 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 business had revenue of $14.00 million for the quarter, compared to analyst estimates of $21.00 million. During the same quarter in the previous year, the business posted ($0.52) earnings per share. Research analysts forecast that MBIA, Inc. will post -3.5 EPS for the current fiscal year.

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.