MBIA Inc. (NYSE:MBI – Get Free Report) announced a dividend on Thursday, December 7th, NASDAQ reports. Stockholders of record on Monday, December 18th will be paid a dividend of 8.00 per share by the insurance provider on Friday, December 22nd. The ex-dividend date of this dividend is Tuesday, December 26th.

MBIA Price Performance

MBI traded up $6.04 on Friday, reaching $13.42. The company’s stock had a trading volume of 11,521,081 shares, compared to its average volume of 387,214. MBIA has a 1 year low of $6.07 and a 1 year high of $14.00. The business’s 50 day moving average is $7.03 and its 200 day moving average is $7.88. The stock has a market cap of $686.30 million, a price-to-earnings ratio of -1.61 and a beta of 1.23.

MBIA (NYSE:MBI – Get Free Report) last released its earnings results on Thursday, November 2nd. The insurance provider reported ($2.92) EPS for the quarter, missing the consensus estimate of ($0.05) by ($2.87). The firm had revenue of $36.00 million during the quarter, compared to the consensus estimate of $29.00 million. As a group, research analysts forecast that MBIA will post -3.35 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on MBI shares. Roth Capital lowered shares of MBIA from a “buy” rating to a “neutral” rating in a report on Friday. StockNews.com upgraded MBIA to a “sell” rating in a research note on Friday. Keefe, Bruyette & Woods dropped their price target on shares of MBIA from $10.00 to $9.00 and set a “market perform” rating on the stock in a research note on Friday, November 17th. Finally, Roth Mkm reaffirmed a “neutral” rating and set a $15.00 target price (up previously from $12.00) on shares of MBIA in a research note on Friday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $12.67.

Read Our Latest Stock Report on MBI

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP bought a new position in shares of MBIA during the 1st quarter valued at about $9,206,000. Millennium Management LLC boosted its holdings in MBIA by 209.0% during the fourth quarter. Millennium Management LLC now owns 832,872 shares of the insurance provider’s stock worth $10,702,000 after buying an additional 563,298 shares in the last quarter. Madison Avenue Partners LP acquired a new position in MBIA in the fourth quarter worth approximately $4,260,000. BlackRock Inc. grew its position in MBIA by 8.5% in the first quarter. BlackRock Inc. now owns 3,722,576 shares of the insurance provider’s stock worth $34,471,000 after buying an additional 290,439 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of MBIA in the first quarter valued at $2,331,000. 58.53% of the stock is currently owned by institutional investors.

MBIA Company Profile (Get Free Report)

MBIA Inc provides financial guarantee insurance services to public finance markets. It operates through United States (U.S.) Public Finance Insurance, Corporate, 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.

See Also

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Original: MarketBeat News Feed: MBIA Inc. (NYSE:MBI) Plans $8.00 Dividend