NMI Holdings Inc $NMIH Position Lessened by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. reduced its stake in NMI Holdings Inc by 4.9%, owning 339,663 shares worth approximately $12.25 million as of their latest filing.
• Other institutional investors have adjusted their positions, with American Century Companies Inc raising its holdings by 9.0% and Assenagon Asset Management S.A. increasing its stake by 70.9% in the same period.
• In recent earnings, NMI reported an EPS of $1.22, exceeding estimates, but had revenue of $149.07 million, falling short of expectations of $173.39 million.

Raymond James Financial Inc. trimmed its position in shares of NMI Holdings Inc (NASDAQ:NMIH - Free Report) by 4.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 339,663 shares of the financial services provider's stock after selling 17,680 shares during the period. Raymond James Financial Inc. owned about 0.43% of NMI worth $12,245,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. American Century Companies Inc. raised its holdings in shares of NMI by 9.0% during the first quarter. American Century Companies Inc. now owns 2,133,945 shares of the financial services provider's stock worth $76,929,000 after acquiring an additional 176,766 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in 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 valued at $73,341,000 after buying an additional 844,037 shares in the last quarter. Nuveen Asset Management LLC raised its holdings in NMI by 0.4% during the fourth quarter. Nuveen Asset Management LLC now owns 1,290,675 shares of the financial services provider's stock valued at $47,445,000 after buying an additional 4,570 shares in the last quarter. Nuveen LLC bought a new position in NMI during the first quarter valued at about $44,886,000. Finally, Northern Trust Corp raised its holdings in NMI by 11.5% during the fourth quarter. Northern Trust Corp now owns 895,877 shares of the financial services provider's stock valued at $32,932,000 after buying an additional 92,597 shares in the last quarter. 94.12% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at NMI

In other news, Chairman Bradley M. Shuster sold 21,545 shares of NMI 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 transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 3.00% of the company's stock.

Wall Street Analyst Weigh In

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

NMI Trading Up 0.1%

NMI stock opened at $39.35 on Friday. 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 business's 50-day simple moving average is $39.47 and its 200-day simple moving average is $37.51. The firm has a market capitalization of $3.05 billion, a PE ratio of 8.35, a PEG ratio of 1.14 and a beta of 0.57. NMI Holdings Inc has a 52 week low of $31.90 and a 52 week high of $43.20.

NMI (NASDAQ:NMIH - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $1.22 EPS for the quarter, topping analysts' consensus estimates of $1.16 by $0.06. The business had revenue of $149.07 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the company posted $1.20 earnings per share. Equities research analysts forecast that NMI Holdings Inc will post 4.62 earnings per share for the current 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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