Aberdeen Group plc Has $18.66 Million Stock Holdings in NMI Holdings Inc $NMIH

Key Points

• Aberdeen Group plc has increased its holdings in NMI Holdings Inc by 134.2% in the 1st quarter, now owning 517,515 shares valued at approximately $18.6 million.
• Equities research analysts have mixed views on NMI, with recent target price adjustments; Barclays raised its target from $41 to $42, while Keefe, Bruyette & Woods lowered their rating to "market perform."
• Insider trading was reported, with Chairman Bradley M. Shuster selling 21,545 shares at approximately $39.56 each, decreasing his ownership by nearly 5%.

Aberdeen Group plc grew its position in NMI Holdings Inc (NASDAQ:NMIH - Free Report) by 134.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 517,515 shares of the financial services provider's stock after acquiring an additional 296,557 shares during the quarter. Aberdeen Group plc owned about 0.66% of NMI worth $18,656,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Sound Income Strategies LLC purchased a new stake in shares of NMI during the first quarter worth approximately $25,000. Opal Wealth Advisors LLC purchased a new stake in shares of NMI during the first quarter worth approximately $33,000. Neo Ivy Capital Management purchased a new stake in shares of NMI during the first quarter worth approximately $47,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of NMI during the first quarter worth approximately $48,000. Finally, GAMMA Investing LLC raised its stake in shares of NMI by 104.2% during the first quarter. GAMMA Investing LLC now owns 1,564 shares of the financial services provider's stock worth $56,000 after purchasing an additional 798 shares during the last quarter. 94.12% of the stock is owned by institutional investors and hedge funds.

NMI Stock Up 2.5%

NASDAQ:NMIH traded up $0.9750 during mid-day trading on Friday, hitting $40.2050. The company had a trading volume of 185,239 shares, compared to its average volume of 565,797. The business has a fifty day simple moving average of $39.56 and a 200-day simple moving average of $37.43. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.17. NMI Holdings Inc has a 1 year low of $31.90 and a 1 year high of $43.20. The firm has a market capitalization of $3.12 billion, a price-to-earnings ratio of 8.54, a PEG ratio of 1.14 and a beta of 0.57.

NMI (NASDAQ:NMIH - Get Free Report) last announced its earnings results on Tuesday, July 29th. The financial services provider reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.06. NMI had a return on equity of 16.51% and a net margin of 55.57%.The company had revenue of $149.07 million during the quarter, compared to the consensus estimate of $173.39 million. During the same period last year, the firm earned $1.20 earnings per share. The company's revenue was up 7.2% on a year-over-year basis. Equities analysts forecast that NMI Holdings Inc will post 4.62 earnings per share for the current fiscal year.

Analyst Ratings Changes

NMIH has been the topic of a number of recent analyst reports. Compass Point reaffirmed a "buy" rating and set a $37.00 price objective (up previously from $34.00) on shares of NMI in a report on Friday, May 23rd. JPMorgan Chase & Co. upped their price objective on NMI from $41.00 to $44.00 and gave the stock an "overweight" rating in a report on Friday, July 11th. Wall Street Zen lowered NMI from a "buy" rating to a "hold" rating in a report on Saturday, July 12th. Keefe, Bruyette & Woods lowered NMI from an "outperform" rating to a "market perform" rating and upped their price objective for the stock from $42.00 to $43.00 in a report on Monday, July 7th. Finally, Barclays boosted their target price on NMI from $41.00 to $42.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 8th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $42.33.

Insider Buying and Selling at NMI

In other news, Chairman Bradley M. Shuster sold 21,545 shares of the company's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $39.56, for a total value of $852,320.20. Following the completion of the sale, the chairman directly owned 409,792 shares of the company's stock, valued at approximately $16,211,371.52. This represents a 4.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 3.00% of the company's stock.

NMI Profile

NMI Holdings, Inc provides private mortgage guaranty insurance services in the United States. The company offers mortgage insurance services, such as primary and pool insurance; and outsourced loan review services to mortgage loan originators. It serves national and regional mortgage banks, money center banks, credit unions, community banks, builder-owned mortgage lenders, internet-sourced lenders, and other non-bank lenders.