Assenagon Asset Management S.A. Increases Stock Position in NMI Holdings, Inc. (NASDAQ:NMIH)

Assenagon Asset Management S.A. increased its holdings in shares of NMI Holdings, Inc. (NASDAQ:NMIH - Free Report) by 70.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,034,419 shares of the financial services provider's stock after purchasing an additional 844,037 shares during the quarter. Assenagon Asset Management S.A. owned 2.60% of NMI worth $73,341,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of NMIH. Principal Securities Inc. increased its position in NMI by 66.5% during the fourth quarter. Principal Securities Inc. now owns 716 shares of the financial services provider's stock valued at $26,000 after acquiring an additional 286 shares during the last quarter. GAMMA Investing LLC increased its position in NMI by 104.2% in the first quarter. GAMMA Investing LLC now owns 1,564 shares of the financial services provider's stock worth $56,000 after buying an additional 798 shares in the last quarter. Smartleaf Asset Management LLC grew its position in shares of NMI by 288.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,868 shares of the financial services provider's stock worth $69,000 after purchasing an additional 1,387 shares in the last quarter. Covestor Ltd grew its position in shares of NMI by 601.1% during the fourth quarter. Covestor Ltd now owns 1,893 shares of the financial services provider's stock worth $70,000 after purchasing an additional 1,623 shares in the last quarter. Finally, Sterling Capital Management LLC grew its position in shares of NMI by 786.1% during the fourth quarter. Sterling Capital Management LLC now owns 2,295 shares of the financial services provider's stock worth $84,000 after purchasing an additional 2,036 shares in the last quarter. 94.12% of the stock is owned by institutional investors.

NMI Price Performance

Shares of NMIH stock traded down $0.26 during trading hours on Friday, reaching $40.34. The company had a trading volume of 443,845 shares, compared to its average volume of 557,925. The company has a market capitalization of $3.15 billion, a price-to-earnings ratio of 9.11, a PEG ratio of 1.41 and a beta of 0.55. NMI Holdings, Inc. has a 12-month low of $31.67 and a 12-month high of $42.49. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.83 and a current ratio of 0.60. The stock has a fifty day moving average of $36.92 and a 200-day moving average of $36.74.

NMI (NASDAQ:NMIH - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The financial services provider reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.18. NMI had a return on equity of 17.33% and a net margin of 55.32%. The business had revenue of $173.25 million for the quarter, compared to analysts' expectations of $169.04 million. During the same period last year, the firm earned $1.08 earnings per share. The company's revenue for the quarter was up 10.8% compared to the same quarter last year. On average, equities analysts anticipate that NMI Holdings, Inc. will post 4.62 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on NMIH. Wall Street Zen raised NMI from a "hold" rating to a "buy" rating in a research note on Monday, May 5th. UBS Group reduced their price objective on NMI from $42.00 to $41.00 and set a "neutral" rating on the stock in a report on Wednesday, February 19th. Compass Point restated a "buy" rating and set a $37.00 price objective (up from $34.00) on shares of NMI in a report on Friday, May 23rd. Keefe, Bruyette & Woods cut their price target on NMI from $43.00 to $42.00 and set an "outperform" rating on the stock in a report on Tuesday, April 8th. Finally, JPMorgan Chase & Co. cut their price target on NMI from $42.00 to $41.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $42.29.

Insiders Place Their Bets

In related news, CEO Adam Pollitzer sold 57,166 shares of the firm's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $36.54, for a total value of $2,088,845.64. Following the completion of the sale, the chief executive officer now owns 329,465 shares in the company, valued at $12,038,651.10. This trade represents a 14.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Bradley M. Shuster sold 21,545 shares of NMI stock in a transaction that occurred 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 transaction, the chairman now owns 409,792 shares of the company's stock, valued at $16,211,371.52. This represents a 4.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 113,697 shares of company stock valued at $4,210,337. 3.00% of the stock is currently owned by insiders.

About NMI

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.