NMI Holdings Inc (NASDAQ:NMIH) Shares Acquired by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC raised its position in NMI Holdings Inc (NASDAQ:NMIH - Free Report) by 53.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 19,012 shares of the financial services provider's stock after buying an additional 6,659 shares during the period. Allspring Global Investments Holdings LLC's holdings in NMI were worth $696,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Sound Income Strategies LLC purchased a new stake in shares of NMI during the first quarter worth about $25,000. Opal Wealth Advisors LLC acquired a new position in NMI in the 1st quarter valued at about $33,000. GAMMA Investing LLC boosted its holdings in NMI by 104.2% in the 1st quarter. GAMMA Investing LLC now owns 1,564 shares of the financial services provider's stock valued at $56,000 after purchasing an additional 798 shares during the last quarter. Covestor Ltd boosted its holdings in NMI by 601.1% in the 4th quarter. Covestor Ltd now owns 1,893 shares of the financial services provider's stock valued at $70,000 after purchasing an additional 1,623 shares during the last quarter. Finally, Sterling Capital Management LLC boosted its holdings in NMI by 786.1% in the 4th quarter. Sterling Capital Management LLC now owns 2,295 shares of the financial services provider's stock valued at $84,000 after purchasing an additional 2,036 shares during the last quarter. Hedge funds and other institutional investors own 94.12% of the company's stock.

Insider Buying and Selling

In other NMI news, Chairman Bradley M. Shuster sold 21,545 shares of the stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $39.56, for a total value of $852,320.20. Following the sale, the chairman directly owned 409,792 shares of the company's stock, valued at approximately $16,211,371.52. This represents a 4.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider William J. Leatherberry sold 13,111 shares of the company's stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $35.56, for a total transaction of $466,227.16. Following the completion of the transaction, the insider owned 163,796 shares of the company's stock, valued at approximately $5,824,585.76. The trade was a 7.41% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 113,697 shares of company stock worth $4,210,337. Corporate insiders own 3.00% of the company's stock.

NMI Stock Down 1.8%

Shares of NASDAQ:NMIH traded down $0.69 during trading hours on Friday, reaching $37.90. The stock had a trading volume of 587,294 shares, compared to its average volume of 559,060. NMI Holdings Inc has a 1 year low of $31.90 and a 1 year high of $43.20. The firm's 50 day moving average is $39.74 and its 200-day moving average is $37.18. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.74 and a current ratio of 0.74. The stock has a market capitalization of $2.96 billion, a price-to-earnings ratio of 8.19, a P/E/G ratio of 1.28 and a beta of 0.55.

NMI (NASDAQ:NMIH - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The financial services provider reported $1.28 EPS for the quarter, beating analysts' consensus estimates of $1.10 by $0.18. NMI had a net margin of 55.93% and a return on equity of 17.27%. The company had revenue of $173.25 million for the quarter, compared to the consensus estimate of $169.04 million. During the same period in the prior year, the firm posted $1.08 EPS. The company's quarterly revenue was up 10.8% compared to the same quarter last year. Research analysts predict that NMI Holdings Inc will post 4.62 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

NMIH has been the topic of several recent analyst reports. Barclays upped their price objective on shares of NMI from $41.00 to $42.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 8th. JPMorgan Chase & Co. upped their target price on shares of NMI from $41.00 to $44.00 and gave the stock an "overweight" rating in a research note on Friday. Compass Point reaffirmed a "buy" rating and set a $37.00 target price (up from $34.00) on shares of NMI in a research note on Friday, May 23rd. Keefe, Bruyette & Woods downgraded shares of NMI from an "outperform" rating to a "market perform" rating and upped their target price for the stock from $42.00 to $43.00 in a research note on Monday, July 7th. Finally, Wall Street Zen downgraded shares of NMI from a "buy" rating to a "hold" rating in a research note on Saturday. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, NMI presently has an average rating of "Moderate Buy" and a consensus price target of $43.00.

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.