Brandywine Global Investment Management LLC Cuts Stock Holdings in NMI Holdings Inc (NASDAQ:NMIH)

Key Points

• Brandywine Global Investment Management LLC has reduced its stake in NMI Holdings Inc by 3.8% during the first quarter, now owning approximately 0.25% of the company, valued at about $6.9 million.
• In recent analyst reviews, JPMorgan Chase & Co. increased their target price for NMI shares from $41.00 to $44.00 with an "overweight" rating, while Wall Street Zen downgraded the rating from "buy" to "hold."
• Insider transactions included Chairman Bradley M. Shuster selling 21,545 shares, resulting in a 4.99% reduction in his holdings, while insiders overall hold about 3.00% of the company's stock.

Brandywine Global Investment Management LLC reduced its position in shares of NMI Holdings Inc (NASDAQ:NMIH - Free Report) by 3.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 192,025 shares of the financial services provider's stock after selling 7,511 shares during the period. Brandywine Global Investment Management LLC owned approximately 0.25% of NMI worth $6,923,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in NMIH. Sound Income Strategies LLC purchased a new position in NMI during the first quarter worth about $25,000. Opal Wealth Advisors LLC purchased a new position in NMI during the first quarter worth about $33,000. Neo Ivy Capital Management purchased a new position in NMI during the first quarter worth about $47,000. Caitong International Asset Management Co. Ltd purchased a new position in NMI during the first quarter worth about $48,000. Finally, GAMMA Investing LLC grew its position in NMI by 104.2% during 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 during the period. 94.12% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at NMI

In related news, Chairman Bradley M. Shuster sold 21,545 shares of the company's 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 sale, the chairman owned 409,792 shares of the company's stock, valued at approximately $16,211,371.52. This represents a 4.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.00% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on NMIH shares. Wall Street Zen lowered shares of NMI from a "buy" rating to a "hold" rating in a research report on Saturday, July 12th. JPMorgan Chase & Co. upped their target price on shares of NMI from $41.00 to $44.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. Barclays upped their target price on shares of NMI from $41.00 to $42.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 8th. Compass Point restated a "buy" rating and set a $37.00 target price (up from $34.00) on shares of NMI in a research report on Friday, May 23rd. Finally, Keefe, Bruyette & Woods lowered shares of NMI from an "outperform" rating to a "market perform" rating and upped their target price for the stock from $42.00 to $43.00 in a research report on Monday, July 7th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, NMI presently has a consensus rating of "Hold" and a consensus target price of $42.33.

NMI Price Performance

NMIH stock opened at $38.97 on Friday. NMI Holdings Inc has a 1 year low of $31.90 and a 1 year high of $43.20. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.74 and a current ratio of 0.74. The stock's 50 day moving average price is $39.63 and its 200 day moving average price is $37.41. The firm has a market cap of $3.02 billion, a P/E ratio of 8.27, a PEG ratio of 1.13 and a beta of 0.57.

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

NMI 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.

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