Principal Financial Group Inc. Acquires 10,377 Shares of NMI Holdings Inc (NASDAQ:NMIH)

Principal Financial Group Inc. raised its stake in NMI Holdings Inc (NASDAQ:NMIH - Free Report) by 2.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 462,641 shares of the financial services provider's stock after buying an additional 10,377 shares during the quarter. Principal Financial Group Inc. owned about 0.59% of NMI worth $16,678,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of NMI by 18.2% in the first 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 during the period. Wealth Enhancement Advisory Services LLC raised its position in shares of NMI by 90.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 11,543 shares of the financial services provider's stock valued at $416,000 after buying an additional 5,492 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in NMI by 53.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 19,012 shares of the financial services provider's stock worth $696,000 after purchasing an additional 6,659 shares during the last quarter. SG Americas Securities LLC purchased a new stake in NMI during the first quarter worth approximately $530,000. Finally, GAMMA Investing LLC grew its holdings in NMI by 7,260.6% during the 1st quarter. GAMMA Investing LLC now owns 56,382 shares of the financial services provider's stock valued at $2,033,000 after purchasing an additional 55,616 shares in the last quarter. 94.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NMIH has been the topic of a number of research analyst reports. Barclays increased their price objective on shares of NMI from $41.00 to $42.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 8th. JPMorgan Chase & Co. raised their price objective on shares of NMI from $41.00 to $44.00 and gave the company an "overweight" rating in a research report on Friday. Wall Street Zen lowered shares of NMI from a "buy" rating to a "hold" rating in a research report on Saturday. Keefe, Bruyette & Woods lowered shares of NMI from an "outperform" rating to a "market perform" rating and lifted their price target for the company from $42.00 to $43.00 in a research report on Monday, July 7th. Finally, Compass Point restated a "buy" rating and issued a $37.00 price objective (up previously from $34.00) on shares of NMI in a research note on Friday, May 23rd. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, NMI has an average rating of "Moderate Buy" and an average price target of $43.00.

Insider Activity at NMI

In related news, insider William J. Leatherberry sold 13,111 shares of NMI stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $35.56, for a total transaction of $466,227.16. Following the sale, the insider directly owned 163,796 shares in the company, valued at approximately $5,824,585.76. This trade represents a 7.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 sale, the chairman owned 409,792 shares in the company, valued at approximately $16,211,371.52. The trade was a 4.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 113,697 shares of company stock valued at $4,210,337 over the last 90 days. Corporate insiders own 3.00% of the company's stock.

NMI Trading Down 2.3%

NMI stock traded down $0.88 during trading hours on Tuesday, hitting $37.30. The stock had a trading volume of 383,157 shares, compared to its average volume of 559,135. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.18. The stock has a market cap of $2.91 billion, a price-to-earnings ratio of 8.06, a P/E/G ratio of 1.28 and a beta of 0.55. NMI Holdings Inc has a one year low of $31.90 and a one year high of $43.20. The business's 50 day simple moving average is $39.74 and its 200-day simple moving average is $37.18.

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

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.