AQR Capital Management LLC Has $10.13 Million Position in 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 boosted its holdings in NMI Holdings Inc (NASDAQ:NMIH - Free Report) by 16.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 281,115 shares of the financial services provider's stock after purchasing an additional 40,529 shares during the quarter. AQR Capital Management LLC owned approximately 0.36% of NMI worth $10,134,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Group Inc. lifted its stake in NMI by 18.2% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,800 shares of the financial services provider's stock valued at $281,000 after buying an additional 1,200 shares during the last quarter. Principal Financial Group Inc. grew its holdings in NMI by 2.3% during the first quarter. Principal Financial Group Inc. now owns 462,641 shares of the financial services provider's stock worth $16,678,000 after acquiring an additional 10,377 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in NMI by 90.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 11,543 shares of the financial services provider's stock worth $416,000 after acquiring an additional 5,492 shares during the period. Entropy Technologies LP grew its holdings in NMI by 136.9% during the first quarter. Entropy Technologies LP now owns 18,688 shares of the financial services provider's stock worth $674,000 after acquiring an additional 10,800 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its stake in NMI by 53.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 19,012 shares of the financial services provider's stock worth $696,000 after purchasing an additional 6,659 shares in the last quarter. 94.12% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

NMI Stock Down 1.6%

NASDAQ:NMIH traded down $0.66 on Friday, hitting $39.68. 240,103 shares of the company's stock traded hands, compared to its average volume of 302,005. The company has a market cap of $3.08 billion, a PE ratio of 8.42, a price-to-earnings-growth ratio of 1.17 and a beta of 0.55. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.17. NMI Holdings Inc has a 1 year low of $31.90 and a 1 year high of $43.20. The firm has a 50-day moving average price of $38.93 and a 200-day moving average price of $37.82.

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