Hosking Partners LLP Sells 901,049 Shares of MBIA Inc. (MBI)
Hosking Partners LLP lowered its holdings in MBIA Inc. (NYSE:MBI) by 15.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,993,532 shares of the insurance provider’s stock after selling 901,049 shares during the period. Hosking Partners LLP owned approximately 0.05% of MBIA worth $36,553,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in MBI. Nine Chapters Capital Management LLC acquired a new stake in shares of MBIA in the third quarter worth $111,000. Commerzbank Aktiengesellschaft FI purchased a new position in shares of MBIA in the fourth quarter valued at $116,000. Intl Fcstone Inc. purchased a new position in shares of MBIA in the second quarter valued at $127,000. Prudential Financial Inc. boosted its stake in shares of MBIA by 2.7% in the second quarter. Prudential Financial Inc. now owns 14,415 shares of the insurance provider’s stock valued at $136,000 after purchasing an additional 380 shares during the period. Finally, Public Employees Retirement System of Ohio boosted its stake in shares of MBIA by 7.0% in the second quarter. Public Employees Retirement System of Ohio now owns 16,849 shares of the insurance provider’s stock valued at $159,000 after purchasing an additional 1,109 shares during the period.
In other news, Director Joseph W. Brown bought 50,000 shares of the firm’s stock in a transaction dated Tuesday, December 19th. The stock was acquired at an average cost of $7.25 per share, for a total transaction of $362,500.00. Following the completion of the purchase, the director now owns 2,399,634 shares of the company’s stock, valued at $17,397,346.50. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 4.11% of the stock is currently owned by corporate insiders.
MBIA declared that its board has approved a share buyback plan on Tuesday, November 7th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the insurance provider to purchase shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
Several brokerages have recently weighed in on MBI. ValuEngine downgraded shares of MBIA from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Keefe, Bruyette & Woods began coverage on shares of MBIA in a research note on Monday, February 5th. They issued a “market perform” rating for the company. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $14.50.
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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.
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