TCW Group Inc. Boosts Stock Position in MBIA Inc. (NYSE:MBI)

TCW Group Inc. raised its position in MBIA Inc. (NYSE:MBI) by 76.3% during the third quarter, Holdings Channel.com reports. The firm owned 460,800 shares of the insurance provider’s stock after buying an additional 199,500 shares during the period. TCW Group Inc.’s holdings in MBIA were worth $1,645,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of MBI. BNP Paribas Financial Markets raised its position in shares of MBIA by 26.6% in the third quarter. BNP Paribas Financial Markets now owns 9,943 shares of the insurance provider’s stock valued at $35,000 after buying an additional 2,090 shares during the last quarter. Seelaus Asset Management LLC acquired a new position in MBIA in the 3rd quarter valued at $45,000. Quantbot Technologies LP lifted its stake in shares of MBIA by 476.5% during the 3rd quarter. Quantbot Technologies LP now owns 14,257 shares of the insurance provider’s stock worth $51,000 after purchasing an additional 11,784 shares during the period. Sanctuary Advisors LLC acquired a new stake in shares of MBIA during the second quarter worth $83,000. Finally, Envestnet Portfolio Solutions Inc. grew its position in shares of MBIA by 34.1% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 21,065 shares of the insurance provider’s stock valued at $116,000 after purchasing an additional 5,351 shares during the period. 60.95% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods upgraded MBIA from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $6.50 to $9.00 in a research report on Monday, November 18th.

MBIA Stock Performance

MBIA stock opened at $6.22 on Friday. MBIA Inc. has a 1 year low of $3.22 and a 1 year high of $14.37. The firm has a 50 day moving average price of $5.06 and a 200 day moving average price of $4.69.

Insider Buying and Selling at MBIA

In other MBIA news, Director Richard C. Vaughan sold 9,000 shares of the company’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $6.59, for a total transaction of $59,310.00. Following the completion of the sale, the director now directly owns 65,635 shares in the company, valued at $432,534.65. This represents a 12.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 12.58% of the stock is owned by company insiders.

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.