Voya Investment Management LLC lowered its position in shares of MBIA Inc. (NYSE:MBI) by 13.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,450 shares of the insurance provider’s stock after selling 5,390 shares during the quarter. Voya Investment Management LLC’s holdings in MBIA were worth $311,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in MBI. GSA Capital Partners LLP acquired a new position in MBIA in the 1st quarter valued at approximately $138,000. LPL Financial LLC bought a new stake in shares of MBIA during the 1st quarter worth $129,000. KBC Group NV boosted its holdings in MBIA by 5.7% in the 2nd quarter. KBC Group NV now owns 298,782 shares of the insurance provider’s stock valued at $2,701,000 after purchasing an additional 16,081 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its holdings in MBIA by 14.2% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,234,319 shares of the insurance provider’s stock valued at $11,159,000 after purchasing an additional 153,216 shares during the period.
In other MBIA news, major shareholder Fine Capital Partners, L.P. sold 1,477,900 shares of the stock in a transaction on Friday, August 10th. The shares were sold at an average price of $11.33, for a total value of $16,744,607.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.11% of the stock is owned by corporate insiders.
MBIA (NYSE:MBI) last issued its quarterly earnings results on Wednesday, August 8th. The insurance provider reported ($0.58) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.24). MBIA had a negative net margin of 148.51% and a negative return on equity of 28.41%. The company had revenue of $12.00 million during the quarter, compared to the consensus estimate of $62.27 million. During the same period last year, the company earned ($1.09) earnings per share.
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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