NMI Holdings Inc $NMIH Shares Bought by AlphaQuest LLC

Key Points

• AlphaQuest LLC increased its stake in NMI Holdings Inc by 83.8%, now owning a total of 62,827 shares valued at $2.26 million after purchasing 28,637 additional shares in the first quarter.
• Wall Street analysts have mixed ratings on NMIH, with Barclays increasing its price target to $42.00, while others have downgraded it to hold positions, resulting in an average rating of "Moderate Buy" and a target of $42.33.
• NMI Holdings reported earnings of $1.22 EPS for the last quarter, surpassing estimates, but with revenue of $149.07 million, falling short of the consensus expectation of $173.39 million.

AlphaQuest LLC boosted its holdings in shares of NMI Holdings Inc (NASDAQ:NMIH - Free Report) by 83.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,827 shares of the financial services provider's stock after acquiring an additional 28,637 shares during the period. AlphaQuest LLC owned about 0.08% of NMI worth $2,265,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of NMIH. American Century Companies Inc. increased its holdings in shares of NMI by 9.0% during the first quarter. American Century Companies Inc. now owns 2,133,945 shares of the financial services provider's stock valued at $76,929,000 after acquiring an additional 176,766 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in NMI by 70.9% in the first quarter. Assenagon Asset Management S.A. now owns 2,034,419 shares of the financial services provider's stock valued at $73,341,000 after acquiring an additional 844,037 shares during the period. Nuveen Asset Management LLC increased its position in shares of NMI by 0.4% in the fourth quarter. Nuveen Asset Management LLC now owns 1,290,675 shares of the financial services provider's stock valued at $47,445,000 after buying an additional 4,570 shares in the last quarter. Nuveen LLC purchased a new position in NMI during the first quarter valued at $44,886,000. Finally, Northern Trust Corp boosted its stake in shares of NMI by 11.5% in the fourth quarter. Northern Trust Corp now owns 895,877 shares of the financial services provider's stock worth $32,932,000 after acquiring an additional 92,597 shares during the last quarter. Institutional investors own 94.12% of the company's stock.

Analyst Ratings Changes

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

Insider Transactions at NMI

In related news, Chairman Bradley M. Shuster sold 21,545 shares of the business's 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 transaction, the chairman directly 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 3.00% of the company's stock.

NMI Trading Up 0.6%

Shares of NMI stock traded up $0.24 during mid-day trading on Wednesday, hitting $39.60. 71,244 shares of the stock were exchanged, compared to its average volume of 560,136. The stock has a market capitalization of $3.07 billion, a price-to-earnings ratio of 8.41, a price-to-earnings-growth ratio of 1.14 and a beta of 0.57. NMI Holdings Inc has a twelve month low of $31.90 and a twelve month high of $43.20. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.17. The company has a 50-day simple moving average of $39.54 and a 200 day simple moving average of $37.45.

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

NMI Company 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.