Citizens Financial Group Inc. RI Takes $466,000 Position in NMI Holdings Inc (NASDAQ:NMIH)

Key Points

• Citizens Financial Group Inc. has acquired a new stake in NMI Holdings Inc., purchasing 12,933 shares valued at approximately $466,000 during the first quarter.
• NMI Holdings Inc. has seen numerous large investors adjust their stakes, with 94.12% of the stock now owned by hedge funds and institutional investors.
• Research analysts have mixed ratings on NMI Holdings Inc., with a consensus rating of "Hold" and an average price target of $42.33.

Citizens Financial Group Inc. RI bought a new stake in shares of NMI Holdings Inc (NASDAQ:NMIH - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 12,933 shares of the financial services provider's stock, valued at approximately $466,000.

Several other large investors have also recently made changes to their positions in NMIH. Sound Income Strategies LLC purchased a new stake in shares of NMI during the 1st quarter valued at $25,000. Opal Wealth Advisors LLC purchased a new stake in shares of NMI during the 1st quarter valued at $33,000. Neo Ivy Capital Management purchased a new stake in shares of NMI during the 1st quarter valued at $47,000. GAMMA Investing LLC increased its position in shares of NMI by 104.2% during the 1st quarter. GAMMA Investing LLC now owns 1,564 shares of the financial services provider's stock valued at $56,000 after purchasing an additional 798 shares during the last quarter. Finally, Covestor Ltd increased its position in shares of NMI by 601.1% during the 4th quarter. Covestor Ltd now owns 1,893 shares of the financial services provider's stock valued at $70,000 after purchasing an additional 1,623 shares during the last quarter. 94.12% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

NMI Stock Up 1.9%

Shares of NASDAQ NMIH opened at $38.98 on Friday. NMI Holdings Inc has a 52 week low of $31.90 and a 52 week high of $43.20. The business has a 50-day simple moving average of $39.63 and a two-hundred day simple moving average of $37.38. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.17. The company has a market cap of $3.02 billion, a P/E ratio of 8.28, a P/E/G ratio of 1.11 and a beta of 0.57.

NMI (NASDAQ:NMIH - Get Free Report) last issued its earnings results on Tuesday, July 29th. The financial services provider reported $1.22 EPS for the quarter, topping the consensus estimate of $1.16 by $0.06. NMI had a return on equity of 16.51% and a net margin of 55.57%. The business had revenue of $149.07 million during the quarter, compared to the consensus estimate of $173.39 million. During the same quarter last year, the company earned $1.20 EPS. The firm's revenue was up 7.2% compared to the same quarter last year. Research analysts anticipate that NMI Holdings Inc will post 4.62 earnings per share for the current fiscal year.

Insider Activity

In other NMI news, Chairman Bradley M. Shuster sold 21,545 shares of the firm's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $39.56, for a total value of $852,320.20. Following the completion of the transaction, the chairman owned 409,792 shares in the company, valued at $16,211,371.52. This trade represents a 4.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael Curry Montgomery sold 1,875 shares of the firm's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $38.05, for a total value of $71,343.75. Following the completion of the transaction, the director owned 66,068 shares of the company's stock, valued at approximately $2,513,887.40. This represents a 2.76% decrease in their position. The disclosure for this sale can be found here. 3.00% of the stock is owned by company insiders.

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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