Principal Financial Group Inc. Has $16.68 Million Holdings in NMI Holdings Inc (NASDAQ:NMIH)

Principal Financial Group Inc. grew its holdings in shares of NMI Holdings Inc (NASDAQ:NMIH - Free Report) by 2.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 462,641 shares of the financial services provider's stock after purchasing an additional 10,377 shares during the quarter. Principal Financial Group Inc. owned about 0.59% of NMI worth $16,678,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of NMI by 18.2% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,800 shares of the financial services provider's stock valued at $281,000 after purchasing an additional 1,200 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in NMI by 90.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 11,543 shares of the financial services provider's stock worth $416,000 after acquiring an additional 5,492 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in NMI by 53.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 19,012 shares of the financial services provider's stock worth $696,000 after acquiring an additional 6,659 shares during the period. SG Americas Securities LLC bought a new position in NMI in the 1st quarter worth $530,000. Finally, GAMMA Investing LLC raised its holdings in NMI by 7,260.6% in the 1st quarter. GAMMA Investing LLC now owns 56,382 shares of the financial services provider's stock worth $2,033,000 after acquiring an additional 55,616 shares during the period. Institutional investors own 94.12% of the company's stock.

NMI Stock Performance

Shares of NASDAQ:NMIH traded down $0.69 on Friday, hitting $37.90. 587,294 shares of the company were exchanged, compared to its average volume of 559,060. The company's 50 day moving average price is $39.74 and its two-hundred day moving average price is $37.18. NMI Holdings Inc has a one year low of $31.90 and a one year high of $43.20. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.74 and a current ratio of 0.74. The firm has a market capitalization of $2.96 billion, a price-to-earnings ratio of 8.19, a PEG ratio of 1.28 and a beta of 0.55.

NMI (NASDAQ:NMIH - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The financial services provider reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.18. NMI had a net margin of 55.93% and a return on equity of 17.27%. The company had revenue of $173.25 million for the quarter, compared to the consensus estimate of $169.04 million. During the same quarter in the previous year, the firm posted $1.08 EPS. The business's revenue was up 10.8% compared to the same quarter last year. Research analysts expect that NMI Holdings Inc will post 4.62 earnings per share for the current year.

Insider Buying and Selling at NMI

In other news, Director Michael Curry Montgomery sold 1,875 shares of NMI stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $38.05, for a total transaction of $71,343.75. Following the sale, the director directly owned 66,068 shares in the company, valued at approximately $2,513,887.40. The trade was a 2.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Robert Owen Smith sold 20,000 shares of NMI stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $36.58, for a total transaction of $731,600.00. Following the sale, the executive vice president owned 84,566 shares in the company, valued at approximately $3,093,424.28. This trade represents a 19.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 113,697 shares of company stock worth $4,210,337 in the last 90 days. 3.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on NMIH shares. JPMorgan Chase & Co. lifted their target price on shares of NMI from $41.00 to $44.00 and gave the stock an "overweight" rating in a report on Friday. Barclays lifted their target price on shares of NMI from $41.00 to $42.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 8th. Wall Street Zen downgraded shares of NMI from a "buy" rating to a "hold" rating in a report on Saturday. Compass Point reiterated a "buy" rating and issued a $37.00 target price (up previously from $34.00) on shares of NMI in a report on Friday, May 23rd. Finally, Keefe, Bruyette & Woods downgraded shares of NMI from an "outperform" rating to a "market perform" rating and lifted their target price for the stock from $42.00 to $43.00 in a report on Monday, July 7th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $43.00.

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.