Invesco Ltd. Has $20.60 Million Stock Position in 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. lowered its stake in NMI Holdings Inc (NASDAQ:NMIH - Free Report) by 38.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 571,392 shares of the financial services provider's stock after selling 362,652 shares during the period. Invesco Ltd. owned 0.73% of NMI worth $20,599,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Sound Income Strategies LLC bought a new position in NMI in the 1st quarter worth approximately $25,000. Opal Wealth Advisors LLC bought a new position in NMI in the 1st quarter worth approximately $33,000. Neo Ivy Capital Management bought a new position in NMI in the 1st quarter worth approximately $47,000. GAMMA Investing LLC raised its position in NMI by 104.2% in the 1st quarter. GAMMA Investing LLC now owns 1,564 shares of the financial services provider's stock worth $56,000 after purchasing an additional 798 shares during the last quarter. Finally, Covestor Ltd raised its position in NMI by 15.7% in the 1st quarter. Covestor Ltd now owns 2,190 shares of the financial services provider's stock worth $79,000 after purchasing an additional 297 shares during the last quarter. Institutional investors own 94.12% of the company's stock.

Insider Activity

In other news, Chairman Bradley M. Shuster sold 21,545 shares of the business's stock in a transaction on Friday, June 6th. The shares were 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 of the company's stock, valued at $16,211,371.52. The trade was a 4.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on NMIH shares. Barclays boosted their price objective on shares of NMI from $41.00 to $42.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 8th. JPMorgan Chase & Co. boosted their price objective on shares of NMI from $41.00 to $44.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. Compass Point restated a "buy" rating and issued a $37.00 price objective (up previously from $34.00) on shares of NMI in a research report on Friday, May 23rd. Keefe, Bruyette & Woods cut shares of NMI from an "outperform" rating to a "market perform" rating and boosted their price objective for the stock from $42.00 to $43.00 in a research report on Monday, July 7th. Finally, Wall Street Zen lowered shares of NMI from a "buy" rating to a "hold" rating in a report on Saturday, July 12th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $42.33.

NMI Trading Up 0.8%

NMIH traded up $0.33 during trading on Wednesday, reaching $39.69. 248,279 shares of the company's stock were exchanged, compared to its average volume of 390,729. The company's fifty day moving average price is $39.52 and its 200-day moving average price is $37.47. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.74 and a current ratio of 0.74. NMI Holdings Inc has a fifty-two week low of $31.90 and a fifty-two week high of $43.20. The firm has a market capitalization of $3.08 billion, a PE ratio of 8.43, a P/E/G ratio of 1.14 and a beta of 0.57.

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

NMI Company 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.