Renaissance Technologies LLC Decreases Stock Holdings in NMI Holdings Inc $NMIH

Key Points

• Renaissance Technologies cut its NMI Holdings stake by 73.9% in the first quarter, selling 38,900 shares and retaining 13,753 shares worth approximately $516,000. Institutional investors collectively own 94.12% of NMI’s stock.
• Analysts maintain a generally positive outlook, with four Buy ratings and two Holds, an overall “Moderate Buy” consensus, and an average price target of $48.33.
• NMI exceeded quarterly expectations, reporting $1.38 in EPS versus the $1.28 estimate and revenue of $187.89 million, up 8.1% year over year. The stock opened at $45.56, near its 52-week high of $46.74.

Renaissance Technologies LLC lowered its holdings in NMI Holdings Inc (NASDAQ:NMIH - Free Report) by 73.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,753 shares of the financial services provider's stock after selling 38,900 shares during the period. Renaissance Technologies LLC's holdings in NMI were worth $516,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in NMIH. Royal Bank of Canada boosted its position in NMI by 20.4% during the 1st quarter. Royal Bank of Canada now owns 117,065 shares of the financial services provider's stock worth $4,221,000 after purchasing an additional 19,857 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in NMI by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,684 shares of the financial services provider's stock valued at $1,683,000 after purchasing an additional 2,030 shares during the period. NewEdge Advisors LLC acquired a new position in shares of NMI during the first quarter worth about $256,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of NMI during the first quarter worth about $203,000. Finally, Jane Street Group LLC boosted its position in shares of NMI by 1,312.9% in the first quarter. Jane Street Group LLC now owns 224,152 shares of the financial services provider's stock worth $8,081,000 after buying an additional 208,287 shares during the period. Hedge funds and other institutional investors own 94.12% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on NMIH shares. Truist Financial increased their target price on NMI from $49.00 to $51.00 and gave the company a "buy" rating in a research note on Friday, July 31st. Royal Bank Of Canada reissued an "outperform" rating and set a $53.00 price target on shares of NMI in a research report on Tuesday, August 4th. JPMorgan Chase & Co. upped their price target on NMI from $48.00 to $50.00 and gave the stock an "overweight" rating in a report on Friday, July 31st. UBS Group set a $46.00 price objective on shares of NMI in a research report on Friday, May 22nd. Finally, Weiss Ratings upgraded shares of NMI from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday, June 12th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $48.33.

NMI Stock Performance

NASDAQ:NMIH opened at $45.56 on Tuesday. The firm has a 50-day moving average of $41.50 and a two-hundred day moving average of $39.52. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.65 and a quick ratio of 0.65. The stock has a market cap of $3.43 billion, a P/E ratio of 8.97, a PEG ratio of 1.24 and a beta of 0.54. NMI Holdings Inc has a 1-year low of $34.84 and a 1-year high of $46.74.

NMI (NASDAQ:NMIH - Get Free Report) last announced its earnings results on Thursday, July 30th. The financial services provider reported $1.38 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.28 by $0.10. NMI had a return on equity of 15.13% and a net margin of 54.10%.The business had revenue of $187.89 million for the quarter, compared to analyst estimates of $156.26 million. During the same period in the previous year, the company earned $1.22 earnings per share. The company's revenue for the quarter was up 8.1% compared to the same quarter last year. On average, research analysts expect that NMI Holdings Inc will post 5.23 earnings per share for the current fiscal year.

Insider Buying and Selling

In other NMI news, EVP Robert Owen Smith sold 12,000 shares of the company's stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $44.65, for a total value of $535,800.00. Following the transaction, the executive vice president directly owned 96,381 shares of the company's stock, valued at $4,303,411.65. This represents a 11.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Aurora Swithenbank sold 11,662 shares of the stock in a transaction that occurred 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 transaction, 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 ownership of the stock. The SEC filing for this sale provides additional information. 2.44% of the stock is owned by company insiders.

NMI Company Profile

NMI Holdings, Inc NASDAQ: NMIH is a publicly traded mortgage insurance company that provides private mortgage insurance to lenders across the United States and Canada. Through its principal subsidiary, National Mortgage Insurance Corporation, NMI underwrites and issues policies that protect originators and investors against losses arising from borrower default on residential mortgage loans. By mitigating credit risk on higher‐loan‐to‐value mortgages, the company supports homebuyers' access to financing and contributes to overall market liquidity.

Beyond its core mortgage insurance products, NMI offers credit risk‐sharing and reinsurance solutions designed to help clients optimize capital utilization and manage portfolio exposure.

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