Amundi Has $3.61 Million Position in NMI Holdings Inc $NMIH

Key Points

• Amundi cut its NMI Holdings position by 47.8% in the second quarter, selling 80,403 shares and retaining 87,843 shares valued at approximately $3.61 million. Institutional investors and hedge funds collectively own 94.12% of NMI’s stock.
• Analyst sentiment remains positive, with four Buy ratings and two Holds producing a “Moderate Buy” consensus and an average price target of $48.33, above the reported $43.89 share price.
• NMI exceeded quarterly expectations with $1.38 in EPS versus $1.28 expected and revenue of $187.89 million, up 8.1% year over year. However, insiders sold 196,368 shares worth about $8.8 million over the past 90 days.

Amundi lessened its position in NMI Holdings Inc (NASDAQ:NMIH - Free Report) by 47.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 87,843 shares of the financial services provider's stock after selling 80,403 shares during the period. Amundi owned about 0.12% of NMI worth $3,609,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Royal Bank of Canada boosted its stake in shares of NMI by 20.4% during the 1st quarter. Royal Bank of Canada now owns 117,065 shares of the financial services provider's stock worth $4,221,000 after acquiring an additional 19,857 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of NMI by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,684 shares of the financial services provider's stock valued at $1,683,000 after purchasing an additional 2,030 shares during the last quarter. NewEdge Advisors LLC acquired a new position in shares of NMI in the first quarter valued at $256,000. Ashton Thomas Private Wealth LLC bought a new position in shares of NMI in the first quarter valued at about $203,000. Finally, Jane Street Group LLC raised its position in shares of NMI by 1,312.9% in the first quarter. Jane Street Group LLC now owns 224,152 shares of the financial services provider's stock valued at $8,081,000 after purchasing an additional 208,287 shares during the period. 94.12% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently commented on NMIH shares. JPMorgan Chase & Co. lifted their target price on shares of NMI from $48.00 to $50.00 and gave the stock an "overweight" rating in a report on Friday, July 31st. Royal Bank Of Canada reissued an "outperform" rating and issued a $53.00 price target on shares of NMI in a report on Tuesday, August 4th. Keefe, Bruyette & Woods restated a "market perform" rating and set a $47.00 price objective on shares of NMI in a research report on Monday, August 3rd. UBS Group set a $46.00 price objective on NMI in a report on Friday, May 22nd. Finally, Truist Financial upped their target price on NMI from $49.00 to $51.00 and gave the company a "buy" rating in a research report on Friday, July 31st. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, NMI currently has an average rating of "Moderate Buy" and an average target price of $48.33.

NMI Price Performance

Shares of NMI stock opened at $43.89 on Friday. NMI Holdings Inc has a twelve month low of $34.84 and a twelve month high of $46.74. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.15. The company has a 50-day simple moving average of $43.82 and a two-hundred day simple moving average of $40.21. The stock has a market capitalization of $3.30 billion, a price-to-earnings ratio of 8.64, a price-to-earnings-growth ratio of 1.18 and a beta of 0.53.

NMI (NASDAQ:NMIH - Get Free Report) last announced its earnings results on Thursday, July 30th. The financial services provider reported $1.38 EPS for the quarter, topping the consensus estimate of $1.28 by $0.10. The company had revenue of $187.89 million for the quarter, compared to analysts' expectations of $156.26 million. NMI had a net margin of 54.10% and a return on equity of 15.13%. The business's revenue for the quarter was up 8.1% on a year-over-year basis. During the same period last year, the firm earned $1.22 earnings per share. Analysts forecast that NMI Holdings Inc will post 5.25 EPS for the current year.

Insider Transactions at NMI

In other NMI news, CEO Adam Pollitzer sold 172,706 shares of the company's stock in a transaction on Friday, September 4th. The stock was sold at an average price of $44.85, for a total transaction of $7,745,864.10. Following the completion of the sale, the chief executive officer directly owned 270,267 shares in the company, valued at $12,121,474.95. This represents a 38.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Robert Smith sold 12,000 shares of the firm's stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $44.65, for a total value of $535,800.00. Following the completion of the sale, the executive vice president directly owned 96,381 shares in the company, valued at approximately $4,303,411.65. This represents a 11.07% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 196,368 shares of company stock valued at $8,800,740. Company insiders own 2.44% of the company's stock.

NMI Company Profile

NMI Holdings, Inc NASDAQ: NMIH is the parent company of National MI, a provider of private mortgage insurance in the United States. Through its insurance subsidiaries, the company offers mortgage insurance to lenders and other mortgage market participants, helping protect against losses when borrowers default on residential home loans.

National MI's products support conventional residential mortgages, including borrower-paid and lender-paid mortgage insurance arrangements. Its coverage is generally used when a homebuyer makes a down payment of less than 20%, enabling lenders to extend mortgage credit while reducing their exposure to potential default-related losses.

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