Moran Wealth Management LLC Boosts Stock Position in NMI Holdings Inc $NMIH

Key Points

• Moran Wealth Management LLC increased its stake in NMI Holdings Inc by 281.5% to 60,531 shares, valued at approximately $2.55 million.
• Several institutional investors, including Nuveen LLC and Millennium Management LLC, have also significantly increased their holdings in NMI, contributing to institutional ownership of 94.12%.
• Despite recent performance reports showing a profit of $1.22 per share, rating downgrades from analysts have occurred, with an average target price now at $42.33.

Moran Wealth Management LLC lifted its stake in shares of NMI Holdings Inc (NASDAQ:NMIH - Free Report) by 281.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 60,531 shares of the financial services provider's stock after acquiring an additional 44,664 shares during the quarter. Moran Wealth Management LLC owned approximately 0.08% of NMI worth $2,554,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NMIH. Nuveen LLC purchased a new position in shares of NMI during the 1st quarter valued at $44,886,000. Millennium Management LLC increased its stake in NMI by 209.9% in the 1st quarter. Millennium Management LLC now owns 1,432,950 shares of the financial services provider's stock worth $51,658,000 after buying an additional 970,551 shares in the last quarter. Public Sector Pension Investment Board raised its holdings in NMI by 176.2% during the first quarter. Public Sector Pension Investment Board now owns 544,723 shares of the financial services provider's stock valued at $19,637,000 after acquiring an additional 347,524 shares during the period. Aberdeen Group plc lifted its position in shares of NMI by 134.2% in the first quarter. Aberdeen Group plc now owns 517,515 shares of the financial services provider's stock valued at $18,656,000 after acquiring an additional 296,557 shares in the last quarter. Finally, Jane Street Group LLC boosted its stake in shares of NMI by 1,312.9% in the first quarter. Jane Street Group LLC now owns 224,152 shares of the financial services provider's stock worth $8,081,000 after acquiring an additional 208,287 shares during the period. Institutional investors own 94.12% of the company's stock.

Wall Street Analyst Weigh In

NMIH has been the subject of several research analyst reports. Keefe, Bruyette & Woods cut NMI from an "outperform" rating to a "market perform" rating and increased their target price for the stock from $42.00 to $43.00 in a research report on Monday, July 7th. Wall Street Zen lowered shares of NMI from a "buy" rating to a "hold" rating in a report on Saturday, July 12th. Weiss Ratings reissued a "buy (b)" rating on shares of NMI in a report on Wednesday, October 8th. JPMorgan Chase & Co. dropped their target price on shares of NMI from $44.00 to $43.00 and set an "overweight" rating for the company in a research report on Tuesday, October 7th. Finally, Barclays reaffirmed a "cautious" rating on shares of NMI in a research note on Monday, October 6th. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $42.33.

Insider Activity at NMI

In related news, Director Steven Scheid sold 19,926 shares of NMI stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $39.31, for a total value of $783,291.06. Following the completion of the transaction, the director owned 78,960 shares in the company, valued at approximately $3,103,917.60. This trade represents a 20.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 3.00% of the company's stock.

NMI Stock Down 1.0%

NASDAQ NMIH opened at $35.91 on Thursday. The stock has a 50 day moving average price of $38.67 and a 200-day moving average price of $38.14. NMI Holdings Inc has a one year low of $31.90 and a one year high of $43.20. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.74 and a current ratio of 0.74. The company has a market capitalization of $2.79 billion, a P/E ratio of 7.62, a P/E/G ratio of 1.05 and a beta of 0.56.

NMI (NASDAQ:NMIH - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.16 by $0.06. NMI had a net margin of 55.57% and a return on equity of 16.51%. The company had revenue of $149.07 million for the quarter, compared to the consensus estimate of $173.39 million. During the same quarter in the prior year, the firm earned $1.20 earnings per share. NMI's revenue was up 7.2% on a year-over-year basis. As a group, equities analysts predict that NMI Holdings Inc will post 4.62 EPS 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.

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