Charles Schwab Investment Management Inc. Increases Position in MBIA Inc. (NYSE:MBI)

Charles Schwab Investment Management Inc. raised its position in shares of MBIA Inc. (NYSE:MBI) by 3.9% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 384,482 shares of the insurance provider’s stock after purchasing an additional 14,255 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in MBIA were worth $1,373,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Seelaus Asset Management LLC bought a new stake in shares of MBIA in the third quarter worth $45,000. Sanctuary Advisors LLC purchased a new position in MBIA in the 2nd quarter worth approximately $83,000. Envestnet Portfolio Solutions Inc. grew its stake in MBIA by 34.1% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 21,065 shares of the insurance provider’s stock valued at $116,000 after acquiring an additional 5,351 shares in the last quarter. SG Americas Securities LLC boosted its stake in MBIA by 18.7% during the third quarter. SG Americas Securities LLC now owns 74,919 shares of the insurance provider’s stock valued at $267,000 after buying an additional 11,811 shares during the last quarter. Finally, AQR Capital Management LLC purchased a new position in shares of MBIA in the second quarter valued at $414,000. 60.95% of the stock is currently owned by hedge funds and other institutional investors.

MBIA Price Performance

Shares of MBI opened at $6.40 on Tuesday. The firm has a market capitalization of $326.59 million, a price-to-earnings ratio of -0.57 and a beta of 1.61. The company has a 50-day moving average of $5.17 and a 200 day moving average of $4.68. MBIA Inc. has a 1-year low of $3.22 and a 1-year high of $14.25.

Analysts Set New Price Targets

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

Insider Transactions at MBIA

In other MBIA news, Director Richard C. Vaughan sold 9,000 shares of the stock in a transaction dated Tuesday, November 19th. The shares were 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 of the company’s stock, valued at approximately $432,534.65. This represents a 12.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 12.58% of the company’s stock.

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.