Charles Schwab Investment Management Inc. Sells 50,243 Shares of NMI Holdings Inc $NMIH

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in NMI Holdings Inc. by 4.7% during the first quarter, now holding 1,025,185 shares valued at approximately $36.96 million.
• NMI Holdings reported earnings of $1.22 EPS for the last quarter, exceeding estimates, but revenue was below expectations at $149.07 million.
• Institutional investors own 94.12% of NMI Holdings, indicating strong interest from major financial players.

Charles Schwab Investment Management Inc. cut its stake in shares of NMI Holdings Inc (NASDAQ:NMIH - Free Report) by 4.7% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 1,025,185 shares of the financial services provider's stock after selling 50,243 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.31% of NMI worth $36,958,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NMIH. Sound Income Strategies LLC acquired a new position in NMI during the 1st quarter worth 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. GAMMA Investing LLC grew its stake in NMI by 104.2% during the 1st quarter. GAMMA Investing LLC now owns 1,564 shares of the financial services provider's stock worth $56,000 after buying an additional 798 shares during the last quarter. Finally, Sterling Capital Management LLC grew its stake in NMI by 786.1% during the 4th quarter. Sterling Capital Management LLC now owns 2,295 shares of the financial services provider's stock worth $84,000 after buying an additional 2,036 shares during the last quarter. 94.12% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Compass Point restated a "buy" rating and set a $37.00 price objective (up from $34.00) on shares of NMI in a research note on Friday, May 23rd. Keefe, Bruyette & Woods downgraded 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 report on Monday, July 7th. Barclays upped 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. Wall Street Zen downgraded NMI from a "buy" rating to a "hold" rating in a research note on Saturday, July 12th. Finally, JPMorgan Chase & Co. raised their price target on NMI from $41.00 to $44.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $42.33.

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 stock was sold at an average price of $39.56, for a total value of $852,320.20. Following the completion of the transaction, the chairman 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 document filed with the SEC, which can be accessed through this hyperlink. Insiders own 3.00% of the company's stock.

NMI Stock Performance

Shares of NASDAQ:NMIH traded up $0.9490 during trading on Friday, hitting $40.1790. 156,253 shares of the stock were exchanged, compared to its average volume of 565,636. NMI Holdings Inc has a 1-year low of $31.90 and a 1-year high of $43.20. 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 company's fifty day simple moving average is $39.56 and its 200-day simple moving average is $37.43. The company has a market capitalization of $3.12 billion, a price-to-earnings ratio of 8.53, a price-to-earnings-growth ratio of 1.14 and a beta of 0.57.

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 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 company had revenue of $149.07 million for the quarter, compared to the consensus estimate of $173.39 million. During the same quarter in the previous year, the company earned $1.20 EPS. The firm's revenue for the quarter was up 7.2% compared to the same quarter last year. Sell-side analysts expect that NMI Holdings Inc will post 4.62 EPS for the current fiscal 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.