Voya Investment Management LLC Acquires 20,536 Shares of NMI Holdings Inc $NMIH

Key Points

• Voya Investment Management LLC raised its stake in NMI Holdings Inc by 35.5%, holding 78,349 shares valued at $2,824,000 as of its latest SEC filing.
• NMI Holdings reported a $1.22 EPS for the last quarter, beating estimates of $1.16, while revenue was up 7.2% year-over-year.
• Analysts maintain a consensus rating of "Moderate Buy" for NMI, with an average price target of $42.33, following recent adjustments from various brokerages.

Voya Investment Management LLC lifted its position in NMI Holdings Inc (NASDAQ:NMIH - Free Report) by 35.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 78,349 shares of the financial services provider's stock after buying an additional 20,536 shares during the quarter. Voya Investment Management LLC owned about 0.10% of NMI worth $2,824,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Sound Income Strategies LLC bought a new stake in shares of NMI in the 1st quarter valued at approximately $25,000. Opal Wealth Advisors LLC bought a new stake in shares of NMI in the 1st quarter valued at approximately $33,000. Neo Ivy Capital Management bought a new stake in shares of NMI in the 1st quarter valued at approximately $47,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of NMI in the 1st quarter valued at approximately $48,000. Finally, Quarry LP grew its stake in shares of NMI by 89.3% in the 1st quarter. Quarry LP now owns 1,482 shares of the financial services provider's stock valued at $53,000 after buying an additional 699 shares in the last quarter. Institutional investors own 94.12% of the company's stock.

NMI Stock Performance

Shares of NASDAQ NMIH traded up $0.15 during trading hours on Tuesday, reaching $38.98. The stock had a trading volume of 108,801 shares, compared to its average volume of 540,895. The business's fifty day moving average is $38.87 and its two-hundred day moving average is $37.96. 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 company has a market cap of $3.02 billion, a price-to-earnings ratio of 8.28, a PEG ratio of 1.14 and a beta of 0.55. NMI Holdings Inc has a twelve month low of $31.90 and a twelve month 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 analysts' consensus estimates of $1.16 by $0.06. The business had revenue of $149.07 million during 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%.NMI's revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.20 earnings per share. As a group, research analysts expect that NMI Holdings Inc will post 4.62 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on NMIH. JPMorgan Chase & Co. upped their target price on NMI from $41.00 to $44.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. Wall Street Zen cut NMI from a "buy" rating to a "hold" rating in a research report on Saturday, July 12th. Barclays upped their target price on NMI from $41.00 to $42.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 8th. Finally, Keefe, Bruyette & Woods cut 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 report on Monday, July 7th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, NMI presently has a consensus rating of "Moderate Buy" and an average target price of $42.33.

Insider Transactions at NMI

In other news, Director Steven Scheid sold 19,926 shares of the stock in a transaction on Monday, September 15th. The stock was sold at an average price of $39.31, for a total transaction of $783,291.06. Following the sale, the director owned 78,960 shares in the company, valued at approximately $3,103,917.60. This represents a 20.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.00% of the stock is 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.