Bank of New York Mellon Corp Decreases Stock Holdings in NMI Holdings Inc (NASDAQ:NMIH)

Bank of New York Mellon Corp trimmed its position in NMI Holdings Inc (NASDAQ:NMIH - Free Report) by 3.4% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 557,054 shares of the financial services provider's stock after selling 19,749 shares during the period. Bank of New York Mellon Corp owned about 0.71% of NMI worth $20,082,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Principal Financial Group Inc. boosted its position in shares of NMI by 2.3% in the 1st quarter. Principal Financial Group Inc. now owns 462,641 shares of the financial services provider's stock worth $16,678,000 after purchasing an additional 10,377 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of NMI by 18.2% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,800 shares of the financial services provider's stock worth $281,000 after purchasing an additional 1,200 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of 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 during the last quarter. Diversified Trust Co boosted its position in shares of NMI by 2.6% in the 1st quarter. Diversified Trust Co now owns 32,769 shares of the financial services provider's stock worth $1,181,000 after purchasing an additional 829 shares during the last quarter. Finally, Moran Wealth Management LLC boosted its position in shares of NMI by 2.3% in the 1st quarter. Moran Wealth Management LLC now owns 15,867 shares of the financial services provider's stock worth $572,000 after purchasing an additional 350 shares during the last quarter. 94.12% of the stock is currently owned by institutional investors.

NMI Price Performance

Shares of NASDAQ:NMIH traded up $0.15 during trading on Friday, hitting $38.01. 590,467 shares of the company were exchanged, compared to its average volume of 558,164. The business's 50 day moving average is $39.73 and its 200-day moving average is $37.22. The company has a market capitalization of $2.97 billion, a P/E ratio of 8.21, a price-to-earnings-growth ratio of 1.16 and a beta of 0.55. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.18. NMI Holdings Inc has a 1-year low of $31.90 and a 1-year high of $43.20.

NMI (NASDAQ:NMIH - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The financial services provider reported $1.28 earnings per share for the quarter, beating analysts' consensus estimates of $1.10 by $0.18. The business had revenue of $173.25 million during the quarter, compared to the consensus estimate of $169.04 million. NMI had a return on equity of 17.27% and a net margin of 55.93%. NMI's quarterly revenue was up 10.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.08 earnings per share. Equities analysts forecast that NMI Holdings Inc will post 4.62 earnings per share for the current year.

Insider Activity at NMI

In other news, EVP Robert Owen Smith sold 20,000 shares of the firm's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $36.58, for a total transaction of $731,600.00. Following the completion of the sale, the executive vice president owned 84,566 shares in the company, valued at $3,093,424.28. This trade represents a 19.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Michael Curry Montgomery sold 1,875 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $38.05, for a total transaction of $71,343.75. Following the sale, the director owned 66,068 shares of the company's stock, valued at approximately $2,513,887.40. The trade was a 2.76% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 113,697 shares of company stock worth $4,210,337. 3.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. JPMorgan Chase & Co. raised their price objective on NMI from $41.00 to $44.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. Wall Street Zen downgraded 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 price objective (up previously from $34.00) on shares of NMI in a research note on Friday, May 23rd. Keefe, Bruyette & Woods downgraded NMI from an "outperform" rating to a "market perform" rating and raised their price objective for the stock from $42.00 to $43.00 in a research note on Monday, July 7th. Finally, Barclays raised their price objective on NMI from $41.00 to $42.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 8th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $43.00.

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.