Keefe, Bruyette & Woods Cuts MBIA (NYSE:MBI) Price Target to $7.00

MBIA (NYSE:MBI) had its price target decreased by Keefe, Bruyette & Woods from $7.50 to $7.00 in a research report released on Thursday morning,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the insurance provider’s stock.

Other equities research analysts have also issued research reports about the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of MBIA in a report on Friday, July 17th. Wall Street Zen raised shares of MBIA from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $7.00.

MBIA Trading Up 0.6%

MBI opened at $5.17 on Thursday. The stock has a market cap of $263.31 million, a PE ratio of -1.79 and a beta of 1.62. MBIA has a 1 year low of $4.84 and a 1 year high of $8.26. The stock’s 50 day simple moving average is $5.98 and its 200-day simple moving average is $6.05.

MBIA (NYSE:MBI) last issued its earnings results on Thursday, August 6th. The insurance provider reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.02). The company had revenue of $27.00 million during the quarter, compared to analyst estimates of $5.75 million. Equities analysts forecast that MBIA will post -0.33 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MBIA

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Legal & General Group Plc acquired a new stake in MBIA in the 2nd quarter valued at $28,000. Quarry LP acquired a new position in MBIA during the third quarter worth $37,000. Dynamic Technology Lab Private Ltd acquired a new position in MBIA during the third quarter worth $77,000. AQR Capital Management LLC bought a new position in shares of MBIA during the fourth quarter valued at $83,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of MBIA during the second quarter valued at $89,000. Institutional investors own 60.95% of the company’s stock.

MBIA Company Profile

MBIA Inc is a financial guarantee insurance company specializing in credit enhancement and risk mitigation solutions for public finance and structured finance transactions. The company provides guaranty insurance for municipal bonds, asset-backed securities and other credit-sensitive obligations, protecting investors against the risk of payment default. Through its core insurance subsidiary, MBIA Insurance Corp., the firm offers financial guarantees, reinsurance support and customized credit solutions designed to improve the marketability and pricing of debt instruments.

Founded in 1973 as the Municipal Bond Insurance Association, MBIA built its reputation by insuring U.S.