New York State Teachers Retirement System Sells 31,630 Shares of NMI Holdings Inc $NMIH

Key Points

• New York State Teachers Retirement System cut its NMI Holdings stake by 23% in the first quarter, selling 31,630 shares and leaving it with 105,799 shares valued at about $3.97 million.
• NMI Holdings reported better-than-expected quarterly results, with EPS of $1.28 versus $1.22 expected and revenue of $183.47 million versus $153.99 million expected.
• Analysts remain generally constructive on the stock, with a Moderate Buy consensus and an average price target of $45, while shares recently traded at $41.00.

New York State Teachers Retirement System reduced its holdings in NMI Holdings Inc (NASDAQ:NMIH - Free Report) by 23.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 105,799 shares of the financial services provider's stock after selling 31,630 shares during the quarter. New York State Teachers Retirement System owned 0.14% of NMI worth $3,969,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of NMIH. Bank of America Corp DE boosted its position in shares of NMI by 95.3% during the third quarter. Bank of America Corp DE now owns 1,014,557 shares of the financial services provider's stock worth $38,898,000 after buying an additional 495,144 shares during the period. River Road Asset Management LLC acquired a new stake in NMI in the 4th quarter valued at approximately $15,104,000. BNP Paribas Financial Markets raised its position in NMI by 184.3% in the 2nd quarter. BNP Paribas Financial Markets now owns 427,397 shares of the financial services provider's stock valued at $18,032,000 after buying an additional 277,065 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in NMI by 85.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 600,139 shares of the financial services provider's stock valued at $23,009,000 after acquiring an additional 276,897 shares in the last quarter. Finally, Jane Street Group LLC lifted its stake in NMI by 1,312.9% in 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 in the last quarter. Institutional investors own 94.12% of the company's stock.

Insider Buying and Selling

In related news, Director Michael Curry Montgomery sold 1,554 shares of NMI stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $37.90, for a total transaction of $58,896.60. Following the completion of the transaction, the director owned 69,026 shares in the company, valued at approximately $2,616,085.40. This trade represents a 2.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.44% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Royal Bank Of Canada began coverage on shares of NMI in a report on Friday, May 22nd. They issued an "outperform" rating and a $46.00 price objective on the stock. Keefe, Bruyette & Woods boosted their price target on shares of NMI from $46.00 to $47.00 and gave the stock an "outperform" rating in a research report on Thursday, June 25th. Barclays reduced their price objective on shares of NMI from $44.00 to $43.00 and set an "equal weight" rating for the company in a research note on Monday, April 6th. JPMorgan Chase & Co. decreased their price objective on NMI from $44.00 to $43.00 and set an "overweight" rating for the company in a report on Thursday, April 9th. Finally, Weiss Ratings raised NMI from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, June 12th. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $45.00.

NMI Stock Performance

NASDAQ NMIH opened at $41.00 on Thursday. The firm has a market capitalization of $3.11 billion, a P/E ratio of 8.35, a price-to-earnings-growth ratio of 1.43 and a beta of 0.54. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.16. The firm's fifty day moving average price is $38.22 and its two-hundred day moving average price is $38.80. NMI Holdings Inc has a 1 year low of $34.84 and a 1 year high of $42.28.

NMI (NASDAQ:NMIH - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The financial services provider reported $1.28 EPS for the quarter, beating analysts' consensus estimates of $1.22 by $0.06. The company had revenue of $183.47 million during the quarter, compared to the consensus estimate of $153.99 million. NMI had a net margin of 53.82% and a return on equity of 15.18%. The company's quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.28 EPS. As a group, research analysts anticipate that NMI Holdings Inc will post 5.12 EPS for the current year.

NMI Profile

NMI Holdings, Inc NASDAQ: NMIH is a publicly traded mortgage insurance company that provides private mortgage insurance to lenders across the United States and Canada. Through its principal subsidiary, National Mortgage Insurance Corporation, NMI underwrites and issues policies that protect originators and investors against losses arising from borrower default on residential mortgage loans. By mitigating credit risk on higher‐loan‐to‐value mortgages, the company supports homebuyers' access to financing and contributes to overall market liquidity.

Beyond its core mortgage insurance products, NMI offers credit risk‐sharing and reinsurance solutions designed to help clients optimize capital utilization and manage portfolio exposure.

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