NMI Holdings Inc $NMIH Shares Sold by Amundi

Key Points

• Amundi reduced its stake in NMI Holdings Inc by 6.5% during the 1st quarter, now holding approximately 130,794 shares worth about $4.69 million.
• Several institutional investors have recently acquired new positions in NMI, with Quarry LP increasing its holdings by 89.3% during the same quarter.
• NMI Holdings reported a Q2 earnings per share of $1.22, surpassing estimates, but its revenue fell short of expectations at $149.07 million.

Amundi reduced its holdings in NMI Holdings Inc (NASDAQ:NMIH - Free Report) by 6.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 130,794 shares of the financial services provider's stock after selling 9,097 shares during the quarter. Amundi owned about 0.17% of NMI worth $4,693,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Dark Forest Capital Management LP acquired a new stake in NMI during the first quarter worth approximately $4,161,000. EP Wealth Advisors LLC acquired a new position in NMI in the first quarter valued at $340,000. Cubist Systematic Strategies LLC grew its position in NMI by 270.6% during the first quarter. Cubist Systematic Strategies LLC now owns 260,763 shares of the financial services provider's stock valued at $9,401,000 after acquiring an additional 190,397 shares during the period. Royal Bank of Canada increased its stake in NMI by 20.4% during the first quarter. Royal Bank of Canada now owns 117,065 shares of the financial services provider's stock worth $4,221,000 after acquiring an additional 19,857 shares during the last quarter. Finally, Graham Capital Management L.P. raised its holdings in shares of NMI by 11.4% in the 1st quarter. Graham Capital Management L.P. now owns 42,620 shares of the financial services provider's stock worth $1,536,000 after purchasing an additional 4,370 shares during the period. Hedge funds and other institutional investors own 94.12% of the company's stock.

NMI Stock Down 1.5%

NMIH traded down $0.58 during trading hours on Tuesday, reaching $38.45. 291,190 shares of the stock traded hands, compared to its average volume of 300,223. NMI Holdings Inc has a fifty-two week low of $31.90 and a fifty-two week high of $43.20. The company has a market cap of $2.98 billion, a price-to-earnings ratio of 8.16, a PEG ratio of 1.13 and a beta of 0.55. 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's fifty day simple moving average is $38.84 and its two-hundred day simple moving average is $37.86.

NMI (NASDAQ:NMIH - Get Free Report) last issued 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 firm had revenue of $149.07 million for the quarter, compared to analyst estimates of $173.39 million. NMI had a net margin of 55.57% and a return on equity of 16.51%. The firm's revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.20 EPS. As a group, analysts forecast that NMI Holdings Inc will post 4.62 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Keefe, Bruyette & Woods cut NMI from an "outperform" rating to a "market perform" rating and boosted their target price for the stock from $42.00 to $43.00 in a report on Monday, July 7th. Barclays boosted their price objective on shares of NMI from $41.00 to $42.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 8th. Compass Point reissued a "buy" rating and issued a $37.00 target price (up previously from $34.00) on shares of NMI in a research note on Friday, May 23rd. JPMorgan Chase & Co. upped their price target on shares of 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 downgraded 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. Based on data from MarketBeat.com, NMI has a consensus rating of "Moderate Buy" and an average price target 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.