NMI Holdings Inc $NMIH Stock Sold by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management reduced its NMI Holdings stake by 21% in the third quarter, selling 142,459 shares and retaining 537,380 shares valued at approximately $20.1 million. Institutional investors collectively own 94.12% of NMI’s stock.
• NMI exceeded quarterly earnings expectations, reporting $1.38 EPS versus the $1.28 consensus and $187.9 million in revenue, up 8.1% year over year. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $48.43.
• Company insiders sold 196,368 shares worth approximately $8.8 million over the past three months, while NMIH recently traded at $40.71—below the analyst consensus target but within its $34.84–$46.74 12-month range.

Assenagon Asset Management S.A. lessened its position in shares of NMI Holdings Inc (NASDAQ:NMIH - Free Report) by 21.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 537,380 shares of the financial services provider's stock after selling 142,459 shares during the quarter. Assenagon Asset Management S.A. owned 0.71% of NMI worth $20,055,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Nykredit A S purchased a new position in shares of NMI in the second quarter worth about $31,000. Public Employees Retirement System of Ohio acquired a new stake in shares of NMI during the second quarter worth about $36,000. Pacer Advisors Inc. boosted its position in NMI by 58.7% in the first quarter. Pacer Advisors Inc. now owns 1,006 shares of the financial services provider's stock valued at $38,000 after buying an additional 372 shares during the last quarter. Bessemer Group Inc. boosted its position in NMI by 34.0% in the first quarter. Bessemer Group Inc. now owns 1,071 shares of the financial services provider's stock valued at $40,000 after buying an additional 272 shares during the last quarter. Finally, Rockefeller Capital Management L.P. boosted its position in NMI by 35.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,160 shares of the financial services provider's stock valued at $47,000 after buying an additional 301 shares during the last quarter. Hedge funds and other institutional investors own 94.12% of the company's stock.

NMI Price Performance

Shares of NMI stock opened at $40.71 on Monday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.15. NMI Holdings Inc has a twelve month low of $34.84 and a twelve month high of $46.74. The business has a 50-day moving average price of $42.88 and a 200 day moving average price of $40.72. The firm has a market cap of $3.06 billion, a PE ratio of 8.01, a P/E/G ratio of 1.10 and a beta of 0.56.

NMI (NASDAQ:NMIH - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.38 earnings per share for the quarter, topping analysts' consensus estimates of $1.28 by $0.10. The company had revenue of $187.89 million during the quarter, compared to analysts' expectations of $156.26 million. NMI had a return on equity of 15.13% and a net margin of 54.10%. NMI's quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.22 EPS. Sell-side analysts predict that NMI Holdings Inc will post 5.24 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently issued reports on NMIH. Weiss Ratings reissued a "buy (b)" rating on shares of NMI in a report on Wednesday, September 9th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $53.00 price target on shares of NMI in a report on Tuesday, August 4th. BTIG Research initiated coverage on shares of NMI in a report on Tuesday, September 22nd. They issued a "buy" rating and a $54.00 price target on the stock. Truist Financial increased their price target on NMI from $49.00 to $51.00 and gave the stock a "buy" rating in a research report on Friday, July 31st. Finally, Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $47.00 price objective on shares of NMI in a research note on Monday, August 3rd. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $48.43.

Insider Transactions at NMI

In related news, EVP Aurora Swithenbank sold 11,662 shares of NMI stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $44.51, for a total value of $519,075.62. Following the sale, the executive vice president owned 50,734 shares of the company's stock, valued at approximately $2,258,170.34. This trade represents a 18.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Robert Smith sold 12,000 shares of NMI stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $44.65, for a total transaction of $535,800.00. Following the completion of the sale, the executive vice president directly owned 96,381 shares in the company, valued at $4,303,411.65. This represents a 11.07% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 196,368 shares of company stock valued at $8,800,740 in the last three months. 2.44% of the stock is currently owned by company insiders.

NMI Profile

NMI Holdings, Inc NASDAQ: NMIH is a holding company whose principal operating subsidiary, National MI, provides private mortgage insurance in the United States. Mortgage insurance helps protect lenders and investors against losses when borrowers default on residential mortgage loans, enabling qualified borrowers to purchase homes with down payments below traditional requirements.

National MI primarily offers mortgage insurance for residential first-lien mortgages, including borrower-paid and lender-paid coverage.

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