American Century Companies Inc. Purchases 176,766 Shares of NMI Holdings Inc $NMIH

Key Points

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American Century Companies Inc. lifted its holdings in NMI Holdings Inc (NASDAQ:NMIH - Free Report) by 9.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 2,133,945 shares of the financial services provider's stock after purchasing an additional 176,766 shares during the quarter. American Century Companies Inc. owned about 2.73% of NMI worth $76,929,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Nuveen LLC acquired a new position in NMI during the 1st quarter worth approximately $44,886,000. Assenagon Asset Management S.A. boosted its position in NMI by 70.9% during the 1st quarter. Assenagon Asset Management S.A. now owns 2,034,419 shares of the financial services provider's stock worth $73,341,000 after acquiring an additional 844,037 shares during the last quarter. Public Sector Pension Investment Board boosted its position in NMI by 176.2% during the 1st quarter. Public Sector Pension Investment Board now owns 544,723 shares of the financial services provider's stock worth $19,637,000 after acquiring an additional 347,524 shares during the last quarter. Aberdeen Group plc boosted its position in NMI by 134.2% during the 1st quarter. Aberdeen Group plc now owns 517,515 shares of the financial services provider's stock worth $18,656,000 after acquiring an additional 296,557 shares during the last quarter. Finally, Capital World Investors boosted its position in NMI by 21.1% during the 4th quarter. Capital World Investors now owns 1,150,000 shares of the financial services provider's stock worth $42,274,000 after acquiring an additional 200,000 shares during the last quarter. 94.12% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

NMI Stock Performance

NMIH traded up $1.09 during trading hours on Friday, reaching $40.32. The company's stock had a trading volume of 203,702 shares, compared to its average volume of 565,920. NMI Holdings Inc has a 52 week low of $31.90 and a 52 week high of $43.20. The company's 50-day moving average is $39.56 and its 200-day moving average is $37.43. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.74 and a current ratio of 0.74. The firm has a market cap of $3.13 billion, a PE ratio of 8.56, a price-to-earnings-growth ratio of 1.14 and a beta of 0.57.

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

Analysts Set New Price Targets

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

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.