Livforsakringsbolaget Skandia Omsesidigt lowered its position in NMI Holdings Inc (NASDAQ:NMIH - Free Report) by 71.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,340 shares of the financial services provider's stock after selling 33,360 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt's holdings in NMI were worth $563,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Gallacher Capital Management LLC raised its stake in NMI by 61.7% in the 2nd quarter. Gallacher Capital Management LLC now owns 14,499 shares of the financial services provider's stock worth $612,000 after acquiring an additional 5,530 shares during the last quarter. Voya Investment Management LLC grew its position in NMI by 35.5% during the 1st quarter. Voya Investment Management LLC now owns 78,349 shares of the financial services provider's stock worth $2,824,000 after purchasing an additional 20,536 shares during the period. Strs Ohio acquired a new stake in NMI during the 1st quarter worth about $973,000. Acadian Asset Management LLC acquired a new stake in shares of NMI during the 1st quarter valued at about $1,224,000. Finally, Jane Street Group LLC grew its position in shares of NMI by 1,312.9% during the 1st quarter. Jane Street Group LLC now owns 224,152 shares of the financial services provider's stock valued at $8,081,000 after acquiring an additional 208,287 shares during the period. Hedge funds and other institutional investors own 94.12% of the company's stock.
Insider Activity at NMI
In other news, Director Steven Scheid sold 19,926 shares of the firm's stock in a transaction on Monday, September 15th. The shares were sold at an average price of $39.31, for a total value of $783,291.06. Following the transaction, the director owned 78,960 shares of the company's stock, valued at approximately $3,103,917.60. This trade represents a 20.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 3.00% of the company's stock.
NMI Trading Up 0.2%
Shares of NMIH traded up $0.07 on Friday, hitting $39.46. 1,027,385 shares of the stock traded hands, compared to its average volume of 301,815. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $3.06 billion, a P/E ratio of 8.38, a P/E/G ratio of 1.14 and a beta of 0.55. The stock's 50 day moving average is $38.86 and its two-hundred day moving average is $37.92. NMI Holdings Inc has a 1 year low of $31.90 and a 1 year high of $43.20.
NMI (NASDAQ:NMIH - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The financial services provider reported $1.22 earnings per share for the quarter, topping analysts' consensus estimates of $1.16 by $0.06. The company had revenue of $149.07 million for the quarter, compared to the consensus estimate of $173.39 million. NMI had a net margin of 55.57% and a return on equity of 16.51%. NMI's revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.20 earnings per share. As a group, sell-side analysts predict that NMI Holdings Inc will post 4.62 earnings per share for the current year.
Analyst Ratings Changes
A number of equities research analysts have recently commented on NMIH shares. Wall Street Zen cut NMI from a "buy" rating to a "hold" rating in a research report on Saturday, July 12th. JPMorgan Chase & Co. raised their price target 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. Keefe, Bruyette & Woods lowered shares of NMI from an "outperform" rating to a "market perform" rating and raised their price target for the company from $42.00 to $43.00 in a research note on Monday, July 7th. Finally, Barclays raised their price target on shares of NMI from $41.00 to $42.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 8th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $42.33.
Check Out Our Latest Report on NMIH
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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