Public Sector Pension Investment Board Has $19.64 Million Stake in NMI Holdings Inc (NASDAQ:NMIH)

Key Points

• The Public Sector Pension Investment Board has increased its stake in NMI Holdings Inc by 176.2%, owning approximately 0.70% of the company, valued at $19.6 million.
• Insider Chairman Bradley M. Shuster sold 21,545 shares at an average price of $39.56, reducing his ownership by 4.99%.
• Analysts have mixed views on NMI, with four rating it as a hold, while others, like JPMorgan, have set a target price of $44, reflecting a positive outlook.

Public Sector Pension Investment Board grew its position in NMI Holdings Inc (NASDAQ:NMIH - Free Report) by 176.2% in the first quarter, according to its most recent filing with the SEC. The fund owned 544,723 shares of the financial services provider's stock after acquiring an additional 347,524 shares during the period. Public Sector Pension Investment Board owned 0.70% of NMI worth $19,637,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of NMIH. Nuveen LLC bought a new position in NMI during the 1st quarter worth $44,886,000. Virtu Financial LLC bought a new position in NMI during the 1st quarter worth $244,000. Entropy Technologies LP raised its position in NMI by 136.9% during the 1st quarter. Entropy Technologies LP now owns 18,688 shares of the financial services provider's stock worth $674,000 after purchasing an additional 10,800 shares during the last quarter. Covestor Ltd raised its position in NMI by 15.7% during the 1st quarter. Covestor Ltd now owns 2,190 shares of the financial services provider's stock worth $79,000 after purchasing an additional 297 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in NMI by 65.7% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 72,759 shares of the financial services provider's stock worth $2,623,000 after purchasing an additional 28,846 shares during the last quarter. 94.12% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Compass Point reaffirmed a "buy" rating and set a $37.00 target price (up from $34.00) on shares of NMI in a research report on Friday, May 23rd. Barclays lifted their price objective on NMI from $41.00 to $42.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 8th. Keefe, Bruyette & Woods lowered NMI from an "outperform" rating to a "market perform" rating and lifted their price objective for the stock from $42.00 to $43.00 in a research report on Monday, July 7th. JPMorgan Chase & Co. lifted their price objective on NMI from $41.00 to $44.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. Finally, Wall Street Zen lowered NMI from a "buy" rating to a "hold" rating in a research report on Saturday, July 12th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, NMI presently has an average rating of "Hold" and an average price target of $42.33.

NMI Stock Down 2.0%

Shares of NMIH traded down $0.78 during trading hours on Friday, hitting $38.97. The stock had a trading volume of 338,624 shares, compared to its average volume of 458,237. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.74 and a quick ratio of 0.74. The firm has a 50 day simple moving average of $39.63 and a 200-day simple moving average of $37.42. The firm has a market capitalization of $3.02 billion, a P/E ratio of 8.27, a price-to-earnings-growth ratio of 1.15 and a beta of 0.57. NMI Holdings Inc has a 1-year low of $31.90 and a 1-year high of $43.20.

NMI (NASDAQ:NMIH - Get Free Report) last issued its earnings results on Tuesday, July 29th. The financial services provider reported $1.22 EPS for the quarter, beating the consensus estimate of $1.16 by $0.06. The company had revenue of $149.07 million during the quarter, compared to the consensus estimate of $173.39 million. NMI had a return on equity of 16.51% and a net margin of 55.57%. The firm's revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period last year, the business posted $1.20 EPS. Sell-side analysts predict that NMI Holdings Inc will post 4.62 EPS for the current fiscal year.

Insider Activity at NMI

In other news, Chairman Bradley M. Shuster sold 21,545 shares of the firm's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $39.56, for a total value of $852,320.20. Following the completion of the sale, the chairman directly owned 409,792 shares in the company, valued at $16,211,371.52. This trade represents a 4.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 3.00% of the stock is currently owned by corporate insiders.

NMI Company 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.