Bank of America Corp DE Has $48.94 Million Stake in NMI Holdings Inc $NMIH

Key Points

• Bank of America increased its NMI Holdings stake by 22.7% in the first quarter, acquiring 241,724 additional shares and bringing its ownership to 1.72%, valued at approximately $48.94 million. Institutional investors collectively own 94.12% of NMI’s stock.
• NMI reported quarterly earnings of $1.38 per share, beating estimates of $1.28, while revenue reached $187.89 million, up 8.1% year over year and well above expectations. Analysts maintain a “Moderate Buy” consensus with an average price target of $48.33.
• NMI shares opened at $44.88, near their 12-month high of $46.74. Company insiders have sold 25,216 shares worth about $1.11 million over the past 90 days.

Bank of America Corp DE increased its stake in NMI Holdings Inc (NASDAQ:NMIH - Free Report) by 22.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 1,304,633 shares of the financial services provider's stock after purchasing an additional 241,724 shares during the quarter. Bank of America Corp DE owned approximately 1.72% of NMI worth $48,937,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Allworth Financial LP lifted its position in NMI by 196.0% during the 3rd quarter. Allworth Financial LP now owns 660 shares of the financial services provider's stock worth $25,000 after acquiring an additional 437 shares during the last quarter. IFP Advisors Inc grew its position in shares of NMI by 189.5% in the fourth quarter. IFP Advisors Inc now owns 796 shares of the financial services provider's stock valued at $32,000 after purchasing an additional 521 shares during the last quarter. Farther Finance Advisors LLC grew its position in shares of NMI by 161.5% in the fourth quarter. Farther Finance Advisors LLC now owns 1,004 shares of the financial services provider's stock valued at $41,000 after purchasing an additional 620 shares during the last quarter. Bessemer Group Inc. increased its stake in shares of NMI by 34.0% in the first quarter. Bessemer Group Inc. now owns 1,071 shares of the financial services provider's stock worth $40,000 after purchasing an additional 272 shares during the period. Finally, Rockefeller Capital Management L.P. increased its stake in shares of NMI by 35.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,160 shares of the financial services provider's stock worth $47,000 after purchasing an additional 301 shares during the period. Institutional investors own 94.12% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on NMIH shares. Weiss Ratings upgraded NMI from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday, June 12th. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and issued a $47.00 price target on shares of NMI in a research report on Monday, August 3rd. JPMorgan Chase & Co. upped their price target on NMI from $48.00 to $50.00 and gave the stock an "overweight" rating in a report on Friday, July 31st. Truist Financial increased their price objective on NMI from $49.00 to $51.00 and gave the company a "buy" rating in a research report on Friday, July 31st. Finally, Royal Bank Of Canada reissued an "outperform" rating and issued a $53.00 price objective on shares of NMI in a research report on Tuesday, August 4th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $48.33.

NMI Stock Up 1.1%

NMIH stock opened at $44.88 on Thursday. 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 market cap of $3.38 billion, a PE ratio of 8.83, a price-to-earnings-growth ratio of 1.20 and a beta of 0.54. The business's 50-day simple moving average is $40.94 and its 200 day simple moving average is $39.37.

NMI (NASDAQ:NMIH - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.38 EPS for the quarter, beating the consensus estimate of $1.28 by $0.10. The firm had revenue of $187.89 million during the quarter, compared to analysts' expectations of $156.26 million. NMI had a return on equity of 15.13% and a net margin of 54.10%.The company's revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.22 EPS. On average, research analysts anticipate that NMI Holdings Inc will post 5.23 earnings per share for the current year.

Insider Buying and Selling at NMI

In other news, Director Michael Curry Montgomery sold 1,554 shares of the firm's stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $37.90, for a total transaction of $58,896.60. Following the completion of the transaction, the director directly owned 69,026 shares of the company's stock, valued at approximately $2,616,085.40. This trade represents a 2.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Robert Owen Smith sold 12,000 shares of NMI stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $44.65, for a total transaction of $535,800.00. Following the sale, the executive vice president owned 96,381 shares in the company, valued at approximately $4,303,411.65. This trade represents a 11.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 25,216 shares of company stock valued at $1,113,772 in the last 90 days. 2.44% of the stock is currently owned by company insiders.

About NMI

NMI Holdings, Inc NASDAQ: NMIH is a publicly traded mortgage insurance company that provides private mortgage insurance to lenders across the United States and Canada. Through its principal subsidiary, National Mortgage Insurance Corporation, NMI underwrites and issues policies that protect originators and investors against losses arising from borrower default on residential mortgage loans. By mitigating credit risk on higher‐loan‐to‐value mortgages, the company supports homebuyers' access to financing and contributes to overall market liquidity.

Beyond its core mortgage insurance products, NMI offers credit risk‐sharing and reinsurance solutions designed to help clients optimize capital utilization and manage portfolio exposure.

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