Fifth Third Bancorp Has $3.46 Million Stock Position in NMI Holdings Inc $NMIH

Key Points

• Fifth Third Bancorp dramatically increased its stake in NMI Holdings, boosting its position by 43,220.7% to 92,273 shares worth about $3.46 million.
• Analysts are generally positive on NMIH, with a Moderate Buy consensus rating and an average price target of $46; JPMorgan recently raised its target to $48.
• NMI reported strong quarterly results, beating EPS and revenue estimates, while the stock recently traded near its 52-week high at $43.01.

Fifth Third Bancorp lifted its position in NMI Holdings Inc (NASDAQ:NMIH - Free Report) by 43,220.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 92,273 shares of the financial services provider's stock after buying an additional 92,060 shares during the period. Fifth Third Bancorp owned about 0.12% of NMI worth $3,461,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Allworth Financial LP raised its stake in shares of NMI by 196.0% in the 3rd quarter. Allworth Financial LP now owns 660 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 437 shares during the period. Maseco LLP acquired a new position in shares of NMI during the 4th quarter worth approximately $31,000. IFP Advisors Inc raised its stake in shares of NMI by 189.5% during the 4th quarter. IFP Advisors Inc now owns 796 shares of the financial services provider's stock worth $32,000 after purchasing an additional 521 shares in the last quarter. Farther Finance Advisors LLC raised its stake in shares of NMI by 161.5% during the 4th quarter. Farther Finance Advisors LLC now owns 1,004 shares of the financial services provider's stock worth $41,000 after purchasing an additional 620 shares in the last quarter. Finally, Rockefeller Capital Management L.P. boosted its holdings in shares of NMI by 35.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,160 shares of the financial services provider's stock valued at $47,000 after buying an additional 301 shares during the last quarter. 94.12% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

NMIH has been the topic of several analyst reports. Barclays dropped their price target on shares of NMI from $44.00 to $43.00 and set an "equal weight" rating on the stock in a research report on Monday, April 6th. JPMorgan Chase & Co. boosted their price objective on shares of NMI from $43.00 to $48.00 and gave the stock an "overweight" rating in a research note on Monday, July 13th. Weiss Ratings upgraded shares of NMI from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday, June 12th. Keefe, Bruyette & Woods upped their target price on shares of NMI from $46.00 to $47.00 and gave the company an "outperform" rating in a report on Thursday, June 25th. Finally, Royal Bank Of Canada initiated coverage on shares of NMI in a research note on Friday, May 22nd. They issued an "outperform" rating and a $46.00 target price for the company. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, NMI has a consensus rating of "Moderate Buy" and a consensus target price of $46.00.

NMI Price Performance

NASDAQ:NMIH opened at $43.01 on Monday. The company has a market cap of $3.27 billion, a P/E ratio of 8.76, a P/E/G ratio of 1.49 and a beta of 0.54. The firm's fifty day moving average price is $38.57 and its two-hundred day moving average price is $38.81. NMI Holdings Inc has a one year low of $34.84 and a one year high of $43.36. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.63 and a quick ratio of 0.63.

NMI (NASDAQ:NMIH - Get Free Report) last posted its earnings results on Thursday, April 30th. The financial services provider reported $1.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.22 by $0.06. The company had revenue of $183.47 million during the quarter, compared to analysts' expectations of $153.99 million. NMI had a net margin of 53.82% and a return on equity of 15.18%. NMI's quarterly revenue was up 5.9% compared to the same quarter last year. During the same quarter last year, the company posted $1.28 EPS. Equities analysts expect that NMI Holdings Inc will post 5.11 earnings per share for the current year.

Insiders Place Their Bets

In other NMI news, Director Michael Curry Montgomery sold 1,554 shares of the firm's stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $37.90, for a total transaction of $58,896.60. Following the completion of the sale, the director directly owned 69,026 shares in the company, valued at $2,616,085.40. This trade represents a 2.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.44% of the stock is currently owned by corporate insiders.

About NMI

NMI Holdings, Inc NASDAQ: NMIH is a publicly traded mortgage insurance company that provides private mortgage insurance to lenders across the United States and Canada. Through its principal subsidiary, National Mortgage Insurance Corporation, NMI underwrites and issues policies that protect originators and investors against losses arising from borrower default on residential mortgage loans. By mitigating credit risk on higher‐loan‐to‐value mortgages, the company supports homebuyers' access to financing and contributes to overall market liquidity.

Beyond its core mortgage insurance products, NMI offers credit risk‐sharing and reinsurance solutions designed to help clients optimize capital utilization and manage portfolio exposure.

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