MBIA Inc. (MBI) Shares Sold by Kahn Brothers Group Inc. DE

Kahn Brothers Group Inc. DE trimmed its position in MBIA Inc. (NYSE:MBI) by 0.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,614,060 shares of the insurance provider’s stock after selling 11,900 shares during the quarter. MBIA accounts for 6.6% of Kahn Brothers Group Inc. DE’s portfolio, making the stock its 8th largest position. Kahn Brothers Group Inc. DE owned about 5.10% of MBIA worth $41,711,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of MBI. Russell Investments Group Ltd. raised its stake in shares of MBIA by 33.0% in the first quarter. Russell Investments Group Ltd. now owns 3,274,355 shares of the insurance provider’s stock valued at $30,322,000 after purchasing an additional 813,198 shares in the last quarter. Millennium Management LLC grew its position in MBIA by 1,009.5% in the fourth quarter. Millennium Management LLC now owns 535,028 shares of the insurance provider’s stock valued at $3,916,000 after acquiring an additional 486,805 shares during the period. Taylor Asset Management Inc. grew its position in MBIA by 47.3% in the first quarter. Taylor Asset Management Inc. now owns 951,739 shares of the insurance provider’s stock valued at $8,108,000 after acquiring an additional 305,600 shares during the period. KBC Group NV grew its position in MBIA by 5,537.1% in the first quarter. KBC Group NV now owns 282,701 shares of the insurance provider’s stock valued at $2,618,000 after acquiring an additional 277,686 shares during the period. Finally, South Dakota Investment Council bought a new stake in MBIA in the first quarter valued at $1,389,000.

Shares of NYSE:MBI opened at $10.76 on Monday. MBIA Inc. has a fifty-two week low of $6.04 and a fifty-two week high of $11.62. The company has a debt-to-equity ratio of 4.91, a current ratio of 1.79 and a quick ratio of 1.83.

MBIA (NYSE:MBI) last announced its earnings results on Wednesday, August 8th. The insurance provider reported ($0.58) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.24). The business had revenue of $12.00 million for the quarter, compared to the consensus estimate of $62.27 million. MBIA had a negative return on equity of 28.41% and a negative net margin of 148.51%. During the same quarter in the previous year, the company posted ($1.09) EPS.

About MBIA

MBIA Inc provides financial guarantee insurance services to public finance markets. It operates through 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.

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Institutional Ownership by Quarter for MBIA (NYSE:MBI)

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