Primecap Management Co. CA Decreases Stock Holdings in NMI Holdings Inc (NASDAQ:NMIH)

Key Points

• Primecap Management Co. CA reduced its stake in NMI Holdings Inc by 6.1%, now holding approximately 0.45% of the company worth $12.7 million after selling 22,830 shares in the first quarter.
• Insider transactions include Chairman Bradley M. Shuster selling 21,545 shares worth over $852,000, reflecting a 4.99% decrease in his position.
• Brokerages have varied opinions on NMIH, with Keefe, Bruyette & Woods downgrading it to "market perform" while JPMorgan Chase & Co. upgraded the price target to $44.00, indicating mixed confidence among analysts.

Primecap Management Co. CA trimmed its holdings in shares of NMI Holdings Inc (NASDAQ:NMIH - Free Report) by 6.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 351,950 shares of the financial services provider's stock after selling 22,830 shares during the period. Primecap Management Co. CA owned 0.45% of NMI worth $12,688,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of NMIH. Assenagon Asset Management S.A. raised its stake in shares of NMI by 70.9% during the first quarter. Assenagon Asset Management S.A. now owns 2,034,419 shares of the financial services provider's stock worth $73,341,000 after buying an additional 844,037 shares during the last quarter. Capital World Investors increased its stake in NMI by 21.1% in the fourth quarter. Capital World Investors now owns 1,150,000 shares of the financial services provider's stock valued at $42,274,000 after purchasing an additional 200,000 shares in the last quarter. Barclays PLC increased its stake in NMI by 43.6% in the fourth quarter. Barclays PLC now owns 555,618 shares of the financial services provider's stock valued at $20,424,000 after purchasing an additional 168,619 shares in the last quarter. Captrust Financial Advisors bought a new stake in NMI in the fourth quarter valued at approximately $5,747,000. Finally, Renaissance Technologies LLC increased its stake in NMI by 328.9% in the fourth quarter. Renaissance Technologies LLC now owns 166,653 shares of the financial services provider's stock valued at $6,126,000 after purchasing an additional 127,800 shares in the last quarter. 94.12% of the stock is owned by institutional investors.

NMI Stock Down 0.1%

Shares of NASDAQ:NMIH traded down $0.03 during mid-day trading on Tuesday, reaching $39.22. 65,435 shares of the stock were exchanged, compared to its average volume of 576,708. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.17. The company has a market cap of $3.04 billion, a P/E ratio of 8.33, a P/E/G ratio of 1.13 and a beta of 0.57. NMI Holdings Inc has a one year low of $31.90 and a one year high of $43.20. The stock's 50 day simple moving average is $39.62 and its 200-day simple moving average is $37.38.

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

Insider Transactions at NMI

In other NMI news, Chairman Bradley M. Shuster sold 21,545 shares of NMI stock in a transaction 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 in the company, valued at approximately $16,211,371.52. The trade was a 4.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 3.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on NMIH. Barclays upped their target price on shares of NMI from $41.00 to $42.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 8th. JPMorgan Chase & Co. upped their target price on shares of NMI from $41.00 to $44.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. Keefe, Bruyette & Woods downgraded shares of NMI from an "outperform" rating to a "market perform" rating and upped their target price for the company from $42.00 to $43.00 in a research note on Monday, July 7th. Compass Point reissued a "buy" rating and set a $37.00 price objective (up previously from $34.00) on shares of NMI in a research report on Friday, May 23rd. Finally, Wall Street Zen downgraded shares of NMI from a "buy" rating to a "hold" rating in a research report on Saturday, July 12th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, NMI has an average rating of "Hold" and an average target price of $42.33.

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.