Invesco Ltd. Sells 362,652 Shares of NMI Holdings Inc $NMIH

Key Points

• Invesco Ltd. reduced its holdings in NMI Holdings Inc by 38.8%, selling 362,652 shares, leaving it with 571,392 shares valued at approximately $20.6 million.
• Chairman Bradley M. Shuster sold 21,545 shares at an average price of $39.56, decreasing his ownership by 4.99% to 409,792 shares.
• NMI reported earnings of $1.22 per share for the last quarter, surpassing estimates, with a revenue of $149.07 million, up 7.2% year-over-year.

Invesco Ltd. lessened its holdings in NMI Holdings Inc (NASDAQ:NMIH - Free Report) by 38.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 571,392 shares of the financial services provider's stock after selling 362,652 shares during the quarter. Invesco Ltd. owned 0.73% of NMI worth $20,599,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. increased its position in shares of NMI by 70.9% in the first quarter. Assenagon Asset Management S.A. now owns 2,034,419 shares of the financial services provider's stock valued at $73,341,000 after acquiring an additional 844,037 shares during the period. Nuveen Asset Management LLC increased its position in shares of NMI by 0.4% in the fourth quarter. Nuveen Asset Management LLC now owns 1,290,675 shares of the financial services provider's stock valued at $47,445,000 after acquiring an additional 4,570 shares during the period. Northern Trust Corp increased its position in shares of NMI by 11.5% in the fourth quarter. Northern Trust Corp now owns 895,877 shares of the financial services provider's stock valued at $32,932,000 after acquiring an additional 92,597 shares during the period. Bank of America Corp DE increased its position in shares of NMI by 3.0% in the fourth quarter. Bank of America Corp DE now owns 527,652 shares of the financial services provider's stock valued at $19,396,000 after acquiring an additional 15,273 shares during the period. Finally, Principal Financial Group Inc. increased its position in shares of NMI by 2.3% in the first quarter. Principal Financial Group Inc. now owns 462,641 shares of the financial services provider's stock valued at $16,678,000 after acquiring an additional 10,377 shares during the period. Hedge funds and other institutional investors own 94.12% of the company's stock.

Insider Buying and Selling

In related news, Chairman Bradley M. Shuster sold 21,545 shares of the business's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $39.56, for a total transaction of $852,320.20. Following the sale, the chairman owned 409,792 shares of the company's stock, valued at $16,211,371.52. The trade was a 4.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 3.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

NMIH has been the topic of a number of analyst reports. Keefe, Bruyette & Woods cut shares of NMI from an "outperform" rating to a "market perform" rating and boosted their price objective for the company from $42.00 to $43.00 in a research report on Monday, July 7th. Barclays boosted their price objective on shares of NMI from $41.00 to $42.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 8th. Wall Street Zen cut shares of NMI from a "buy" rating to a "hold" rating in a research report on Saturday, July 12th. Compass Point reaffirmed a "buy" rating and set a $37.00 target price (up previously from $34.00) on shares of NMI in a research note on Friday, May 23rd. Finally, JPMorgan Chase & Co. lifted their target price on shares of NMI from $41.00 to $44.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $42.33.

NMI Stock Up 2.9%

NASDAQ:NMIH traded up $1.12 during mid-day trading on Friday, hitting $40.35. 334,665 shares of the company's stock were exchanged, compared to its average volume of 420,311. NMI Holdings Inc has a one year low of $31.90 and a one year high of $43.20. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.74 and a quick ratio of 0.74. The business has a fifty day moving average price of $39.56 and a 200 day moving average price of $37.42. The company has a market cap of $3.13 billion, a PE ratio of 8.57, a P/E/G ratio of 1.17 and a beta of 0.57.

NMI (NASDAQ:NMIH - Get Free Report) last posted 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. NMI had a net margin of 55.57% and a return on equity of 16.51%. The business had revenue of $149.07 million for the quarter, compared to analyst estimates of $173.39 million. During the same quarter in the previous year, the firm posted $1.20 earnings per share. NMI's quarterly revenue was up 7.2% on a year-over-year basis. Equities analysts predict that NMI Holdings Inc will post 4.62 EPS for the current year.

About NMI

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.