Millennium Management LLC Has $17 Million Holdings in NMI Holdings, Inc. (NASDAQ:NMIH)

Millennium Management LLC lowered its holdings in shares of NMI Holdings, Inc. (NASDAQ:NMIH - Free Report) by 40.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 462,399 shares of the financial services provider's stock after selling 307,681 shares during the quarter. Millennium Management LLC owned 0.58% of NMI worth $16,998,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in NMI by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 7,158,877 shares of the financial services provider's stock worth $263,160,000 after purchasing an additional 39,503 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of NMI by 8.0% in the fourth quarter. American Century Companies Inc. now owns 1,957,179 shares of the financial services provider's stock valued at $71,946,000 after buying an additional 145,591 shares during the period. Donald Smith & CO. Inc. increased its position in shares of NMI by 34.8% during the fourth quarter. Donald Smith & CO. Inc. now owns 1,307,868 shares of the financial services provider's stock worth $48,077,000 after acquiring an additional 337,996 shares in the last quarter. Capital World Investors increased its position in shares of NMI by 21.1% during the fourth quarter. Capital World Investors now owns 1,150,000 shares of the financial services provider's stock worth $42,274,000 after acquiring an additional 200,000 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of NMI by 1.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,075,428 shares of the financial services provider's stock worth $39,533,000 after acquiring an additional 11,347 shares during the period. Institutional investors and hedge funds own 94.12% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. 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 research note on Tuesday, April 8th. UBS Group cut their price target on NMI from $42.00 to $41.00 and set a "neutral" rating on the stock in a report on Wednesday, February 19th. Compass Point reiterated a "buy" rating and set a $37.00 price objective (up from $34.00) on shares of NMI in a report on Friday. Keefe, Bruyette & Woods dropped their target price on NMI from $43.00 to $42.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 8th. Finally, Wall Street Zen raised NMI from a "hold" rating to a "buy" rating in a research report on Monday, May 5th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $42.29.

Insider Activity

In related news, CEO Adam Pollitzer sold 57,166 shares of the firm's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $36.54, for a total value of $2,088,845.64. Following the completion of the sale, the chief executive officer now directly owns 329,465 shares in the company, valued at approximately $12,038,651.10. This trade represents a 14.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 transaction, the director now directly owns 66,068 shares in the company, valued at $2,513,887.40. The trade was a 2.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 92,152 shares of company stock valued at $3,358,017 in the last quarter. Company insiders own 3.00% of the company's stock.

NMI Stock Up 0.8%

NMIH stock traded up $0.32 during mid-day trading on Tuesday, reaching $38.28. The company had a trading volume of 60,732 shares, compared to its average volume of 548,797. The company has a market capitalization of $2.99 billion, a price-to-earnings ratio of 8.64, a PEG ratio of 1.41 and a beta of 0.56. NMI Holdings, Inc. has a 52 week low of $31.60 and a 52 week high of $42.49. The stock has a 50 day simple moving average of $35.75 and a two-hundred day simple moving average of $36.64. 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 (NASDAQ:NMIH - Get Free Report) last released its earnings results on Tuesday, April 29th. The financial services provider reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.18. The business had revenue of $173.25 million during the quarter, compared to analysts' expectations of $169.04 million. NMI had a net margin of 55.32% and a return on equity of 17.33%. The firm's revenue was up 10.8% on a year-over-year basis. During the same period last year, the business earned $1.08 earnings per share. As a group, equities analysts predict that NMI Holdings, Inc. will post 4.62 earnings per share for the current fiscal year.

NMI 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.