Jefferies Financial Group Inc. raised its position in NMI Holdings Inc (NASDAQ:NMIH - Free Report) by 30.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,440 shares of the financial services provider's stock after acquiring an additional 17,640 shares during the quarter. Jefferies Financial Group Inc. owned approximately 0.10% of NMI worth $2,756,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in NMIH. LPL Financial LLC grew its position in shares of NMI by 197.6% during the fourth quarter. LPL Financial LLC now owns 49,962 shares of the financial services provider's stock worth $1,837,000 after buying an additional 33,174 shares in the last quarter. Vanguard Group Inc. grew its position in shares of NMI by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 7,158,877 shares of the financial services provider's stock worth $263,160,000 after buying an additional 39,503 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of NMI by 25.3% during the fourth quarter. JPMorgan Chase & Co. now owns 971,863 shares of the financial services provider's stock worth $35,726,000 after buying an additional 196,059 shares in the last quarter. Norges Bank purchased a new stake in NMI during the fourth quarter worth approximately $13,174,000. Finally, Alliancebernstein L.P. lifted its stake in NMI by 5.0% during 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 during the last quarter. 94.12% of the stock is owned by institutional investors and hedge funds.
NMI Stock Performance
Shares of NMI stock traded up $0.06 during trading hours on Thursday, hitting $38.35. 15,381 shares of the company were exchanged, compared to its average volume of 580,493. NMI Holdings Inc has a 1 year low of $31.90 and a 1 year high of $43.20. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.17. The business has a 50-day moving average of $39.67 and a 200-day moving average of $37.36. The stock has a market capitalization of $2.97 billion, a price-to-earnings ratio of 8.16, a P/E/G ratio of 1.10 and a beta of 0.57.
NMI (NASDAQ:NMIH - Get Free Report) last released its quarterly earnings results 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 return on equity of 16.51% and a net margin of 55.57%. The business had revenue of $149.07 million during the quarter, compared to analysts' expectations of $173.39 million. During the same quarter in the prior year, the business earned $1.20 earnings per share. The company's quarterly revenue was up 7.2% compared to the same quarter last year. As a group, analysts expect that NMI Holdings Inc will post 4.62 EPS for the current fiscal year.
Analysts Set New Price Targets
Several equities research analysts recently weighed in on NMIH shares. Barclays boosted their target price on NMI from $41.00 to $42.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 8th. Keefe, Bruyette & Woods cut NMI from an "outperform" rating to a "market perform" rating and boosted their target price for the stock from $42.00 to $43.00 in a research note on Monday, July 7th. JPMorgan Chase & Co. boosted their target price on NMI from $41.00 to $44.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. Compass Point restated 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, Wall Street Zen cut NMI from a "buy" rating to a "hold" rating in a research note on Saturday, July 12th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $42.33.
View Our Latest Analysis on NMIH
Insider Activity at NMI
In related news, Director Michael Curry Montgomery sold 1,875 shares of the company's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $38.05, for a total transaction of $71,343.75. Following the transaction, the director owned 66,068 shares of the company's stock, valued at $2,513,887.40. This represents a 2.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Bradley M. Shuster sold 21,545 shares of the company's stock in a transaction on 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 in the company, valued at $16,211,371.52. This represents a 4.99% decrease in their position. The disclosure for this sale can be found here. 3.00% of the stock is owned by corporate insiders.
NMI Profile
(
Free Report)
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.
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