Man Group plc Sells 47,341 Shares of NMI Holdings, Inc. (NASDAQ:NMIH)

Man Group plc trimmed its position in shares of NMI Holdings, Inc. (NASDAQ:NMIH - Free Report) by 22.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 163,595 shares of the financial services provider's stock after selling 47,341 shares during the quarter. Man Group plc owned approximately 0.21% of NMI worth $6,014,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of NMI in the fourth quarter valued at about $13,174,000. Raymond James Financial Inc. bought a new stake in shares of NMI during the fourth quarter worth approximately $13,136,000. Donald Smith & CO. Inc. lifted its stake in shares of NMI by 34.8% in the 4th quarter. Donald Smith & CO. Inc. now owns 1,307,868 shares of the financial services provider's stock valued at $48,077,000 after purchasing an additional 337,996 shares during the period. Barclays PLC lifted its stake in NMI by 264.4% in the third quarter. Barclays PLC now owns 386,999 shares of the financial services provider's stock valued at $15,940,000 after buying an additional 280,809 shares during the period. Finally, abrdn plc bought a new position in NMI during the 4th quarter worth approximately $8,122,000. 94.12% of the stock is owned by institutional investors.

Insider Transactions at NMI

In related news, Director Michael Curry Montgomery sold 1,875 shares of NMI stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $38.05, for a total transaction of $71,343.75. Following the sale, the director now directly owns 66,068 shares in the company, valued at $2,513,887.40. This trade represents a 2.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Adam Pollitzer sold 57,166 shares of NMI stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $36.54, for a total value of $2,088,845.64. Following the completion of the transaction, the chief executive officer now directly owns 329,465 shares in the company, valued at approximately $12,038,651.10. This represents a 14.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 92,152 shares of company stock valued at $3,358,017. 3.00% of the stock is currently owned by insiders.

NMI Price Performance

NMIH traded up $0.19 during trading on Monday, hitting $37.96. 672,559 shares of the stock traded hands, compared to its average volume of 550,656. The business has a 50 day moving average price of $35.70 and a 200 day moving average price of $36.63. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.60 and a quick ratio of 0.83. NMI Holdings, Inc. has a twelve month low of $31.60 and a twelve month high of $42.49. The company has a market cap of $2.97 billion, a price-to-earnings ratio of 8.57, a PEG ratio of 1.41 and a beta of 0.56.

NMI (NASDAQ:NMIH - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The financial services provider reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.18. NMI had a return on equity of 17.33% and a net margin of 55.32%. The business had revenue of $173.25 million during the quarter, compared to the consensus estimate of $169.04 million. During the same period in the prior year, the company earned $1.08 EPS. NMI's revenue for the quarter was up 10.8% on a year-over-year basis. Equities research analysts forecast that NMI Holdings, Inc. will post 4.62 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on NMIH shares. Keefe, Bruyette & Woods reduced their target price on NMI from $43.00 to $42.00 and set an "outperform" rating on the stock in a report on Tuesday, April 8th. UBS Group lowered their price target on shares of NMI from $42.00 to $41.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 19th. Wall Street Zen upgraded shares of NMI from a "hold" rating to a "buy" rating in a research note on Monday, May 5th. Compass Point reissued 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. Finally, JPMorgan Chase & Co. reduced their target price on shares of NMI from $42.00 to $41.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $42.29.

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.