Nuveen LLC Makes New $44.89 Million Investment in NMI Holdings Inc (NASDAQ:NMIH)

Key Points

• Nuveen LLC invested approximately $44.89 million in NMI Holdings Inc, acquiring 1,245,107 shares during the 1st quarter, representing about 1.59% of the company.
• NMI Holdings reported $1.22 EPS for the last quarter, exceeding estimates by $0.06, with revenue of $149.07 million, which is a 7.2% increase from the previous year.
• Analysts generally maintain a mixed outlook on NMIH, with an average rating of "Hold" and a price target of approximately $42.33, while some analysts have recently downgraded their ratings.

Nuveen LLC bought a new position in shares of NMI Holdings Inc (NASDAQ:NMIH - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,245,107 shares of the financial services provider's stock, valued at approximately $44,886,000. Nuveen LLC owned about 1.59% of NMI at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Sound Income Strategies LLC purchased a new stake in NMI during the 1st quarter worth approximately $25,000. Opal Wealth Advisors LLC purchased a new stake in NMI during the 1st quarter worth approximately $33,000. Neo Ivy Capital Management purchased a new stake in NMI during the 1st quarter worth approximately $47,000. GAMMA Investing LLC grew its position 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 purchasing an additional 798 shares during the last quarter. Finally, Covestor Ltd grew its position in NMI by 15.7% during the 1st quarter. Covestor Ltd now owns 2,190 shares of the financial services provider's stock worth $79,000 after purchasing an additional 297 shares during the last quarter. Hedge funds and other institutional investors own 94.12% of the company's stock.

NMI Stock Performance

NMIH opened at $39.75 on Friday. 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 has a fifty day moving average price of $39.65 and a 200 day moving average price of $37.42. NMI Holdings Inc has a 1 year low of $31.90 and a 1 year high of $43.20. The stock has a market cap of $3.08 billion, a P/E ratio of 8.44, a P/E/G ratio of 1.16 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 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 firm had revenue of $149.07 million during the quarter, compared to analysts' expectations of $173.39 million. During the same period in the previous year, the business posted $1.20 EPS. The business's revenue was up 7.2% compared to the same quarter last year. Equities research analysts anticipate that NMI Holdings Inc will post 4.62 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on NMIH shares. Compass Point reissued a "buy" rating and set a $37.00 target price (up previously from $34.00) on shares of NMI in a research report on Friday, May 23rd. Wall Street Zen downgraded shares of NMI from a "buy" rating to a "hold" rating in a report on Saturday, July 12th. Keefe, Bruyette & Woods downgraded shares of NMI from an "outperform" rating to a "market perform" rating and upped their price objective for the company from $42.00 to $43.00 in a report on Monday, July 7th. Barclays upped their price objective on shares of NMI from $41.00 to $42.00 and gave the company an "equal weight" rating in a report on Tuesday, July 8th. Finally, JPMorgan Chase & Co. upped their price objective on shares of NMI from $41.00 to $44.00 and gave the company an "overweight" rating in a report on Friday, July 11th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, NMI has an average rating of "Hold" and an average price target of $42.33.

Insider Activity

In related news, Chairman Bradley M. Shuster sold 21,545 shares of the business's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $39.56, for a total value of $852,320.20. Following the completion of the transaction, the chairman directly owned 409,792 shares in the company, valued at $16,211,371.52. The trade was a 4.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 3.00% of the stock is currently owned by corporate insiders.

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.

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