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 purchased a new position in NMI Holdings Inc (NASDAQ:NMIH - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 12,933 shares of the financial services provider's stock, valued at approximately $466,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NMIH. LPL Financial LLC raised its holdings in NMI by 197.6% in the fourth quarter. LPL Financial LLC now owns 49,962 shares of the financial services provider's stock worth $1,837,000 after purchasing an additional 33,174 shares in the last quarter. Alliancebernstein L.P. raised its holdings in NMI by 5.0% in the fourth quarter. Alliancebernstein L.P. now owns 99,364 shares of the financial services provider's stock worth $3,653,000 after purchasing an additional 4,768 shares in the last quarter. Franklin Resources Inc. raised its holdings in NMI by 3.4% in the fourth quarter. Franklin Resources Inc. now owns 101,535 shares of the financial services provider's stock worth $3,732,000 after purchasing an additional 3,385 shares in the last quarter. Wells Fargo & Company MN raised its holdings in NMI by 2.1% in the fourth quarter. Wells Fargo & Company MN now owns 50,662 shares of the financial services provider's stock worth $1,862,000 after purchasing an additional 1,033 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in NMI by 21.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 38,943 shares of the financial services provider's stock worth $1,432,000 after purchasing an additional 6,759 shares in the last quarter. Hedge funds and other institutional investors own 94.12% of the company's stock.

Analyst Ratings Changes

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

NMI Stock Performance

NASDAQ NMIH traded up $0.29 during trading hours on Wednesday, hitting $39.94. The company's stock had a trading volume of 107,946 shares, compared to its average volume of 575,272. NMI Holdings Inc has a 12 month low of $31.90 and a 12 month high of $43.20. The company's 50 day simple moving average is $39.62 and its two-hundred day simple moving average is $37.39. The company has a market cap of $3.10 billion, a P/E ratio of 8.48, a price-to-earnings-growth ratio of 1.14 and a beta of 0.57. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.74 and a quick ratio of 0.74.

NMI (NASDAQ:NMIH - Get Free Report) last released its quarterly earnings data 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. The company had revenue of $149.07 million during the quarter, compared to the consensus estimate of $173.39 million. NMI had a return on equity of 16.51% and a net margin of 55.57%. NMI's revenue for the quarter was up 7.2% on a year-over-year basis. During the same period last year, the company earned $1.20 EPS. As a group, sell-side analysts expect that NMI Holdings Inc will post 4.62 EPS for the current fiscal year.

Insider Transactions at NMI

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 transaction, the chairman directly owned 409,792 shares of the company's stock, valued at approximately $16,211,371.52. This trade represents a 4.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 3.00% of the company's stock.

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.