Assenagon Asset Management S.A. Has $43.55 Million Stock Position in NMI Holdings Inc $NMIH

Key Points

• Assenagon Asset Management S.A. reduced its stake in NMI Holdings Inc by 49.3%, owning approximately 1.32% of the company, valued at $43.55 million after selling over 1 million shares.
• Hedge funds and other institutional investors now own 94.12% of NMI's stock, reflecting significant interest from major market players.
• NMI's recent earnings report showed adjusted earnings per share of $1.22, exceeding analysts’ estimates, while revenue increased by 7.2% year-over-year.

Assenagon Asset Management S.A. lessened its stake in NMI Holdings Inc (NASDAQ:NMIH - Free Report) by 49.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,032,228 shares of the financial services provider's stock after selling 1,002,191 shares during the quarter. Assenagon Asset Management S.A. owned approximately 1.32% of NMI worth $43,550,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Nuveen LLC purchased a new position in shares of NMI in the 1st quarter valued at approximately $44,886,000. Millennium Management LLC increased its holdings in shares of NMI by 209.9% during the 1st quarter. Millennium Management LLC now owns 1,432,950 shares of the financial services provider's stock valued at $51,658,000 after purchasing an additional 970,551 shares in the last quarter. Public Sector Pension Investment Board increased its holdings in shares of 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 valued at $19,637,000 after purchasing an additional 347,524 shares in the last quarter. Aberdeen Group plc increased its holdings in shares of NMI by 134.2% during the 1st quarter. Aberdeen Group plc now owns 517,515 shares of the financial services provider's stock valued at $18,656,000 after purchasing an additional 296,557 shares in the last quarter. Finally, Jane Street Group LLC increased its holdings in shares of NMI by 1,312.9% during the 1st 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 in the last quarter. Hedge funds and other institutional investors own 94.12% of the company's stock.

NMI Stock Performance

NMIH traded down $0.63 during trading on Monday, hitting $38.83. The stock had a trading volume of 383,161 shares, compared to its average volume of 336,451. The company's 50-day moving average price is $38.87 and its 200 day moving average price is $37.96. The firm has a market capitalization of $3.01 billion, a P/E ratio of 8.24, a PEG ratio of 1.14 and a beta of 0.55. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.74 and a current ratio of 0.74. NMI Holdings Inc has a twelve month low of $31.90 and a twelve month high of $43.20.

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

Insider Transactions at NMI

In other news, Director Steven Scheid sold 19,926 shares of the business's stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $39.31, for a total value of $783,291.06. Following the completion of the sale, the director directly owned 78,960 shares in the company, valued at approximately $3,103,917.60. The trade was a 20.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Barclays lifted their target price on shares of 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. lifted their target price on shares of 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 shares of NMI from an "outperform" rating to a "market perform" rating and lifted their target price for the stock from $42.00 to $43.00 in a research note on Monday, July 7th. Finally, Wall Street Zen cut shares of NMI from a "buy" rating to a "hold" rating in a research note on Saturday, July 12th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target 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.