Millennium Management LLC Sells 307,681 Shares of NMI Holdings, Inc. (NASDAQ:NMIH)

Millennium Management LLC lowered its position in shares of NMI Holdings, Inc. (NASDAQ:NMIH - Free Report) by 40.0% in the fourth quarter, according to the company in its most recent disclosure with the 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 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of NMIH. Assetmark Inc. boosted its holdings in shares of NMI by 12.6% in the fourth quarter. Assetmark Inc. now owns 88,010 shares of the financial services provider's stock valued at $3,235,000 after buying an additional 9,842 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of NMI by 1.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,075,428 shares of the financial services provider's stock valued at $39,533,000 after buying an additional 11,347 shares during the period. Barclays PLC boosted its holdings in shares of 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. abrdn plc acquired a new position in shares of NMI in the fourth quarter valued at approximately $8,122,000. Finally, BNP Paribas Financial Markets boosted its holdings in shares of NMI by 13.3% in the fourth quarter. BNP Paribas Financial Markets now owns 127,132 shares of the financial services provider's stock valued at $4,673,000 after buying an additional 14,908 shares during the period. Institutional investors and hedge funds own 94.12% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on NMIH. Wall Street Zen raised shares of NMI from a "hold" rating to a "buy" rating in a research report 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. Keefe, Bruyette & Woods cut their price objective on shares of NMI from $43.00 to $42.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 8th. JPMorgan Chase & Co. cut their price objective on shares of NMI from $42.00 to $41.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Finally, UBS Group cut their price objective on shares of NMI from $42.00 to $41.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 19th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, NMI has an average rating of "Moderate Buy" and a consensus target price of $42.29.

NMI Stock Performance

Shares of NASDAQ:NMIH traded up $1.19 on Tuesday, hitting $39.15. The company had a trading volume of 754,033 shares, compared to its average volume of 551,470. NMI Holdings, Inc. has a 1-year low of $31.60 and a 1-year high of $42.49. The stock has a market cap of $3.06 billion, a price-to-earnings ratio of 8.84, a P/E/G ratio of 1.41 and a beta of 0.56. The stock has a 50 day moving average price of $35.83 and a 200 day moving average price of $36.66. The company has a current ratio of 0.60, a quick ratio of 0.83 and a debt-to-equity ratio of 0.19.

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

Insider Buying and Selling at NMI

In related news, insider William J. Leatherberry sold 13,111 shares of the company's stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $35.56, for a total value of $466,227.16. Following the transaction, the insider now directly owns 163,796 shares in the company, valued at approximately $5,824,585.76. This represents a 7.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Robert Owen Smith sold 20,000 shares of the stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $36.58, for a total transaction of $731,600.00. Following the sale, the executive vice president now owns 84,566 shares in the company, valued at $3,093,424.28. The trade was a 19.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 92,152 shares of company stock worth $3,358,017 over the last ninety days. Insiders own 3.00% of the company's stock.

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.