Engineers Gate Manager LP Sells 27,821 Shares of NMI Holdings Inc $NMIH

Key Points

• Engineers Gate Manager LP cut its NMI Holdings stake by 53.2%, selling 27,821 shares and retaining 24,432 shares valued at approximately $1.0 million. Institutional investors collectively own 94.12% of NMI’s stock.
• Analysts maintain a favorable outlook, with four Buy ratings and two Holds producing a consensus “Moderate Buy” rating and an average price target of $48.33, above the reported $42.90 share price.
• NMI exceeded quarterly expectations with earnings of $1.38 per share versus $1.28 estimated and revenue of $187.89 million, up 8.1% year over year. However, insiders sold a combined 196,368 shares worth about $8.8 million over the past 90 days.

Engineers Gate Manager LP lessened its stake in shares of NMI Holdings Inc (NASDAQ:NMIH - Free Report) by 53.2% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 24,432 shares of the financial services provider's stock after selling 27,821 shares during the quarter. Engineers Gate Manager LP's holdings in NMI were worth $1,004,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in NMIH. Dimensional Fund Advisors LP grew its holdings in NMI by 0.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,351,808 shares of the financial services provider's stock worth $163,237,000 after acquiring an additional 34,372 shares during the last quarter. Geode Capital Management LLC lifted its holdings in NMI by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 1,982,722 shares of the financial services provider's stock worth $80,887,000 after buying an additional 5,274 shares during the period. Bank of America Corp DE lifted its holdings in NMI by 22.7% in the 1st quarter. Bank of America Corp DE now owns 1,304,633 shares of the financial services provider's stock worth $48,937,000 after buying an additional 241,724 shares during the period. Donald Smith & CO. Inc. bought a new stake in shares of NMI in the 2nd quarter worth approximately $36,262,000. Finally, Panagora Asset Management Inc. increased its stake in shares of NMI by 4.5% during the fourth quarter. Panagora Asset Management Inc. now owns 596,249 shares of the financial services provider's stock valued at $24,321,000 after buying an additional 25,639 shares during the period. Institutional investors own 94.12% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Truist Financial raised their price target on NMI from $49.00 to $51.00 and gave the stock a "buy" rating in a research note on Friday, July 31st. Keefe, Bruyette & Woods reissued a "market perform" rating and set a $47.00 price objective on shares of NMI in a research report on Monday, August 3rd. Weiss Ratings restated a "buy (b)" rating on shares of NMI in a report on Wednesday, September 9th. JPMorgan Chase & Co. raised their target price on shares of NMI from $48.00 to $50.00 and gave the stock an "overweight" rating in a research report on Friday, July 31st. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and set a $53.00 target price on shares of NMI in a research note on Tuesday, August 4th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $48.33.

NMI Stock Down 0.0%

NASDAQ:NMIH opened at $42.90 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.65 and a quick ratio of 0.65. The firm's 50-day moving average price is $44.03 and its 200-day moving average price is $40.35. The company has a market capitalization of $3.23 billion, a PE ratio of 8.44, a P/E/G ratio of 1.15 and a beta of 0.53. NMI Holdings Inc has a 1-year low of $34.84 and a 1-year high of $46.74.

NMI (NASDAQ:NMIH - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.38 earnings per share for the quarter, topping analysts' consensus estimates of $1.28 by $0.10. NMI had a net margin of 54.10% and a return on equity of 15.13%. The business had revenue of $187.89 million for the quarter, compared to analysts' expectations of $156.26 million. During the same quarter in the prior year, the company earned $1.22 earnings per share. The business's revenue was up 8.1% compared to the same quarter last year. On average, equities analysts predict that NMI Holdings Inc will post 5.25 EPS for the current fiscal year.

Insider Transactions at NMI

In other NMI news, EVP Robert Smith sold 12,000 shares of the business's stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $44.65, for a total value of $535,800.00. Following the sale, the executive vice president directly owned 96,381 shares of the company's stock, valued at approximately $4,303,411.65. The trade was a 11.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Aurora Swithenbank sold 11,662 shares of the business's stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $44.51, for a total value of $519,075.62. Following the completion of the sale, the executive vice president directly owned 50,734 shares in the company, valued at $2,258,170.34. This trade represents a 18.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 196,368 shares of company stock valued at $8,800,740 in the last ninety days. 2.44% of the stock is currently owned by corporate insiders.

About NMI

NMI Holdings, Inc NASDAQ: NMIH is the parent company of National MI, a provider of private mortgage insurance in the United States. Through its insurance subsidiaries, the company offers mortgage insurance to lenders and other mortgage market participants, helping protect against losses when borrowers default on residential home loans.

National MI's products support conventional residential mortgages, including borrower-paid and lender-paid mortgage insurance arrangements. Its coverage is generally used when a homebuyer makes a down payment of less than 20%, enabling lenders to extend mortgage credit while reducing their exposure to potential default-related losses.

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