Jefferies Financial Group Inc. Acquires 17,640 Shares of NMI Holdings Inc (NASDAQ:NMIH)

Key Points

• Jefferies Financial Group Inc. increased its stake in NMI Holdings Inc by 30%, holding 76,440 shares valued at $2.76 million as of the latest SEC filing.
• NMI Holdings reported earnings of $1.22 per share for the last quarter, surpassing estimates, with a year-over-year revenue increase of 7.2%.
• Institutional investors own 94.12% of NMI's stock, indicating significant interest from hedge funds and institutional investors in the company.

Jefferies Financial Group Inc. grew its stake in shares of NMI Holdings Inc (NASDAQ:NMIH - Free Report) by 30.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 76,440 shares of the financial services provider's stock after purchasing an additional 17,640 shares during the quarter. Jefferies Financial Group Inc. owned about 0.10% of NMI worth $2,756,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Sumitomo Mitsui Trust Group Inc. increased its holdings in NMI by 18.2% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,800 shares of the financial services provider's stock worth $281,000 after buying an additional 1,200 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of NMI by 2.3% in the 1st 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. Wealth Enhancement Advisory Services LLC raised its holdings in shares of NMI by 90.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 11,543 shares of the financial services provider's stock valued at $416,000 after purchasing an additional 5,492 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of NMI by 53.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 19,012 shares of the financial services provider's stock valued at $696,000 after purchasing an additional 6,659 shares during the period. Finally, SG Americas Securities LLC bought a new stake in shares of NMI in the 1st quarter valued at about $530,000. Institutional investors own 94.12% of the company's stock.

NMI Stock Performance

Shares of NASDAQ:NMIH traded up $0.18 during trading on Tuesday, reaching $37.78. 18,467 shares of the stock were exchanged, compared to its average volume of 582,258. NMI Holdings Inc has a 12 month low of $31.90 and a 12 month high of $43.20. The firm has a market cap of $2.93 billion, a PE ratio of 8.02, a PEG ratio of 1.08 and a beta of 0.57. The stock has a 50-day moving average price of $39.71 and a 200-day moving average price of $37.36. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.17.

NMI (NASDAQ:NMIH - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.16 by $0.06. NMI had a return on equity of 16.51% and a net margin of 55.57%. The company had revenue of $149.07 million during the quarter, compared to analysts' expectations of $173.39 million. During the same quarter in the previous year, the company posted $1.20 earnings per share. The business's revenue was up 7.2% on a year-over-year basis. Research analysts expect that NMI Holdings Inc will post 4.62 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Wall Street Zen downgraded NMI from a "buy" rating to a "hold" rating in a research report on Saturday, July 12th. JPMorgan Chase & Co. upped their price objective on NMI from $41.00 to $44.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. Keefe, Bruyette & Woods lowered NMI from an "outperform" rating to a "market perform" rating and upped their price objective for the company from $42.00 to $43.00 in a research note on Monday, July 7th. Barclays upped their price objective on NMI from $41.00 to $42.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 8th. Finally, 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 note on Friday, May 23rd. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $42.33.

Insider Activity at NMI

In related news, Director Michael Curry Montgomery sold 1,875 shares of the business's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $38.05, for a total value of $71,343.75. Following the completion of the sale, the director directly owned 66,068 shares in the company, valued at approximately $2,513,887.40. The trade was a 2.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Bradley M. Shuster sold 21,545 shares of the business's stock in a transaction that occurred 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 sale, the chairman owned 409,792 shares of the company's stock, valued at approximately $16,211,371.52. This trade represents a 4.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.00% of the company's stock.

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.