Comerica Bank Reduces Stock Holdings in NMI Holdings Inc $NMIH

Key Points

• Comerica Bank reduced its stake in NMI Holdings Inc. by 36.7%, now holding about 0.09% of the company, valued at approximately $2.6 million.
• Several institutional investors have recently acquired new stakes in NMI, with total ownership by institutional investors at 94.12%.
• Analysts have mixed views on NMI, with target prices ranging from $37.00 to $44.00, resulting in a consensus rating of "Moderate Buy."

Comerica Bank decreased its position in NMI Holdings Inc (NASDAQ:NMIH - Free Report) by 36.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 71,993 shares of the financial services provider's stock after selling 41,684 shares during the quarter. Comerica Bank owned approximately 0.09% of NMI worth $2,595,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Sound Income Strategies LLC bought a new position in NMI in the first quarter worth $25,000. Opal Wealth Advisors LLC bought a new position in NMI in the first quarter worth $33,000. Neo Ivy Capital Management bought a new position in NMI in the first quarter worth $47,000. Caitong International Asset Management Co. Ltd bought a new position in NMI in the first quarter worth $48,000. Finally, GAMMA Investing LLC raised its holdings in NMI by 104.2% in the first quarter. GAMMA Investing LLC now owns 1,564 shares of the financial services provider's stock worth $56,000 after purchasing an additional 798 shares in the last quarter. Institutional investors own 94.12% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on NMIH. Keefe, Bruyette & Woods downgraded NMI from an "outperform" rating to a "market perform" rating and increased their price objective for the stock from $42.00 to $43.00 in a report on Monday, July 7th. JPMorgan Chase & Co. raised their price target 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 price target 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 report on Saturday, July 12th. Finally, Compass Point restated a "buy" rating and set a $37.00 price target (up from $34.00) on shares of NMI in a report on Friday, May 23rd. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $42.33.

NMI Stock Performance

Shares of NMI stock traded down $0.15 during trading on Tuesday, hitting $39.20. 545,492 shares of the company's stock traded hands, compared to its average volume of 321,381. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.74 and a quick ratio of 0.74. NMI Holdings Inc has a 1 year low of $31.90 and a 1 year high of $43.20. The stock has a market capitalization of $3.04 billion, a P/E ratio of 8.32, a PEG ratio of 1.14 and a beta of 0.55. The business has a 50-day simple moving average of $39.36 and a 200-day simple moving average of $37.58.

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

Insider Transactions at NMI

In other NMI news, Chairman Bradley M. Shuster sold 21,545 shares of the firm's 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 of the company's stock, valued at approximately $16,211,371.52. This trade represents a 4.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 3.00% of the company's stock.

About NMI

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.