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. lessened its stake in NMI Holdings Inc (NASDAQ:NMIH - Free Report) by 4.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm 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 about 1.31% of NMI worth $36,958,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Xponance Inc. lifted its stake in shares of NMI by 5.0% in the first quarter. Xponance Inc. now owns 5,917 shares of the financial services provider's stock valued at $213,000 after buying an additional 281 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in shares of NMI by 5.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,051 shares of the financial services provider's stock valued at $222,000 after buying an additional 325 shares during the period. Cetera Investment Advisers lifted its stake in shares of NMI by 5.7% in the first quarter. Cetera Investment Advisers now owns 6,347 shares of the financial services provider's stock valued at $229,000 after buying an additional 341 shares during the period. Hohimer Wealth Management LLC lifted its stake in shares of NMI by 5.6% in the first quarter. Hohimer Wealth Management LLC now owns 6,493 shares of the financial services provider's stock valued at $234,000 after buying an additional 344 shares during the period. Finally, Moran Wealth Management LLC lifted its stake in shares of NMI by 2.3% in the first quarter. Moran Wealth Management LLC now owns 15,867 shares of the financial services provider's stock valued at $572,000 after buying an additional 350 shares during the period. Institutional investors own 94.12% of the company's stock.

NMI Price Performance

Shares of NASDAQ:NMIH traded up $1.12 during trading on Friday, reaching $40.35. The stock had a trading volume of 334,665 shares, compared to its average volume of 420,311. NMI Holdings Inc has a 52 week low of $31.90 and a 52 week high of $43.20. The business's 50-day moving average price is $39.56 and its 200 day moving average price is $37.43. 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 stock has a market capitalization of $3.13 billion, a PE ratio of 8.57, a P/E/G ratio of 1.17 and a beta of 0.57.

NMI (NASDAQ:NMIH - Get Free Report) last posted its earnings results on Tuesday, July 29th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $173.39 million. During the same quarter in the previous year, the company posted $1.20 earnings per share. NMI's quarterly revenue was up 7.2% compared to the same quarter last year. As a group, equities analysts predict that NMI Holdings Inc will post 4.62 earnings per share for the current year.

Insider Buying and Selling

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 transaction of $852,320.20. Following the completion of the sale, the chairman owned 409,792 shares of the company's stock, valued at approximately $16,211,371.52. The trade was a 4.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.00% of the company's stock.

Wall Street Analyst Weigh In

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