AQR Capital Management LLC Purchases 40,529 Shares of NMI Holdings Inc $NMIH

Key Points

• AQR Capital Management LLC increased its stake in NMI Holdings Inc by 16.8%, bringing its ownership to 281,115 shares, valued at approximately $10.13 million.
• Major hedge funds have also adjusted their positions in NMI, contributing to institutional investors owning 94.12% of the company's stock.
• Despite recent analyst downgrades, NMI has an average target price of $42.33, with a consensus rating of "Moderate Buy" among investment analysts.

AQR Capital Management LLC lifted its position in NMI Holdings Inc (NASDAQ:NMIH - Free Report) by 16.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 281,115 shares of the financial services provider's stock after acquiring an additional 40,529 shares during the period. AQR Capital Management LLC owned 0.36% of NMI worth $10,134,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the business. Xponance Inc. lifted its position in NMI by 5.0% in the first quarter. Xponance Inc. now owns 5,917 shares of the financial services provider's stock valued at $213,000 after acquiring an additional 281 shares during the last quarter. Covestor Ltd boosted its holdings in NMI by 15.7% in the 1st quarter. Covestor Ltd now owns 2,190 shares of the financial services provider's stock worth $79,000 after acquiring an additional 297 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in shares of NMI by 5.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,051 shares of the financial services provider's stock worth $222,000 after purchasing an additional 325 shares during the last quarter. Cetera Investment Advisers lifted its holdings in shares of NMI by 5.7% in the 1st quarter. Cetera Investment Advisers now owns 6,347 shares of the financial services provider's stock worth $229,000 after purchasing an additional 341 shares during the last quarter. Finally, Hohimer Wealth Management LLC raised its stake in shares of NMI by 5.6% during the first quarter. Hohimer Wealth Management LLC now owns 6,493 shares of the financial services provider's stock valued at $234,000 after purchasing an additional 344 shares in the last quarter. Institutional investors and hedge funds own 94.12% of the company's stock.

NMI Stock Down 1.5%

NASDAQ NMIH traded down $0.58 during trading on Tuesday, reaching $38.45. 291,190 shares of the company's stock traded hands, compared to its average volume of 300,223. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.74 and a quick ratio of 0.74. The firm has a market cap of $2.98 billion, a price-to-earnings ratio of 8.16, a price-to-earnings-growth ratio of 1.13 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 company's 50 day simple moving average is $38.84 and its two-hundred day simple moving average is $37.86.

NMI (NASDAQ:NMIH - Get Free Report) last released its quarterly earnings results 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. The firm had revenue of $149.07 million during the quarter, compared to the consensus estimate of $173.39 million. NMI had a net margin of 55.57% and a return on equity of 16.51%. The company's revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.20 EPS. As a group, sell-side analysts forecast that NMI Holdings Inc will post 4.62 EPS for the current fiscal year.

Analyst Ratings Changes

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

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.