NMI Holdings Inc (NASDAQ:NMIH) Stock Position Lowered by Allianz Asset Management GmbH

Key Points

• Allianz Asset Management GmbH reduced its holdings in NMI Holdings by 32.4%, selling 174,080 shares and now owning 362,840 shares valued at approximately $13.08 million.
• NMI Holdings reported a quarterly earnings per share (EPS) of $1.28, exceeding analysts' expectations of $1.10, along with a 10.8% increase in revenue year-over-year.
• Insiders sold a total of 113,697 shares of NMI in the last 90 days, indicating potential shifts in executive confidence regarding the company's future performance.

Allianz Asset Management GmbH reduced its position in NMI Holdings Inc (NASDAQ:NMIH - Free Report) by 32.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 362,840 shares of the financial services provider's stock after selling 174,080 shares during the quarter. Allianz Asset Management GmbH owned about 0.46% of NMI worth $13,080,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Sound Income Strategies LLC purchased a new position in NMI in the first quarter valued at about $25,000. Opal Wealth Advisors LLC purchased a new position in NMI in the first quarter valued at about $33,000. GAMMA Investing LLC raised its position in NMI by 104.2% in the first quarter. GAMMA Investing LLC now owns 1,564 shares of the financial services provider's stock valued at $56,000 after purchasing an additional 798 shares during the period. Covestor Ltd raised its position in NMI by 601.1% in the fourth quarter. Covestor Ltd now owns 1,893 shares of the financial services provider's stock valued at $70,000 after purchasing an additional 1,623 shares during the period. Finally, Sterling Capital Management LLC raised its position in NMI by 786.1% in the fourth quarter. Sterling Capital Management LLC now owns 2,295 shares of the financial services provider's stock valued at $84,000 after purchasing an additional 2,036 shares during the period. 94.12% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on the company. Compass Point reissued a "buy" rating and issued a $37.00 price objective (up from $34.00) on shares of NMI in a research report on Friday, May 23rd. Barclays raised their price objective on NMI from $41.00 to $42.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 8th. JPMorgan Chase & Co. raised their target price on NMI from $41.00 to $44.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. Keefe, Bruyette & Woods downgraded NMI from an "outperform" rating to a "market perform" rating and raised their target price for the company from $42.00 to $43.00 in a research note on Monday, July 7th. Finally, Wall Street Zen downgraded NMI from a "buy" rating to a "hold" rating in a research note on Saturday, July 12th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, NMI currently has a consensus rating of "Moderate Buy" and a consensus target price of $43.00.

NMI Stock Up 0.0%

NMI stock traded up $0.01 during midday trading on Friday, hitting $38.07. The stock had a trading volume of 471,688 shares, compared to its average volume of 489,471. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.18. The stock has a market cap of $2.97 billion, a P/E ratio of 8.22, a P/E/G ratio of 1.16 and a beta of 0.55. NMI Holdings Inc has a 12 month low of $31.90 and a 12 month high of $43.20. The business has a fifty day moving average price of $39.77 and a 200 day moving average price of $37.29.

NMI (NASDAQ:NMIH - Get Free Report) last issued its earnings results on Tuesday, April 29th. The financial services provider reported $1.28 EPS for the quarter, beating analysts' consensus estimates of $1.10 by $0.18. NMI had a return on equity of 17.27% and a net margin of 55.93%. The company had revenue of $173.25 million during the quarter, compared to the consensus estimate of $169.04 million. During the same period in the previous year, the firm posted $1.08 earnings per share. NMI's quarterly revenue was up 10.8% compared to the same quarter last year. Research analysts predict that NMI Holdings Inc will post 4.62 EPS for the current year.

Insider Buying and Selling

In other news, Chairman Bradley M. Shuster sold 21,545 shares of NMI stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $39.56, for a total transaction of $852,320.20. Following the sale, the chairman owned 409,792 shares of the company's stock, valued at approximately $16,211,371.52. The trade was a 4.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Robert Owen Smith sold 20,000 shares of NMI stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $36.58, for a total value of $731,600.00. Following the sale, the executive vice president directly owned 84,566 shares in the company, valued at approximately $3,093,424.28. This trade represents a 19.13% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 113,697 shares of company stock valued at $4,210,337 over the last 90 days. 3.00% of the stock is owned by corporate insiders.

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.