Rhumbline Advisers Reduces Stake in NMI Holdings Inc $NMIH

Key Points

• Rhumbline Advisers has reduced its stake in NMI Holdings Inc by 4.8%, selling 10,863 shares, and now owns approximately 0.28% of the company valued at $7.76 million.
• Several institutional investors have increased their holdings in NMI, with Wealth Enhancement Advisory Services LLC raising its stake by 90.8% during the first quarter.
• After recent earnings results, NMI reported an EPS of $1.22 for the quarter, exceeding analyst expectations but with revenue below estimates at $149.07 million.

Rhumbline Advisers lowered its stake in shares of NMI Holdings Inc (NASDAQ:NMIH - Free Report) by 4.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 215,305 shares of the financial services provider's stock after selling 10,863 shares during the quarter. Rhumbline Advisers owned 0.28% of NMI worth $7,762,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Sound Income Strategies LLC bought a new stake in NMI during the first quarter worth $25,000. Opal Wealth Advisors LLC bought a new stake in NMI during the first quarter worth $33,000. Neo Ivy Capital Management bought a new stake in NMI during the first quarter worth $47,000. Caitong International Asset Management Co. Ltd bought a new stake in NMI during the first quarter worth $48,000. Finally, Quarry LP grew its holdings in NMI by 89.3% during the first quarter. Quarry LP now owns 1,482 shares of the financial services provider's stock worth $53,000 after buying an additional 699 shares in the last quarter. Institutional investors own 94.12% of the company's stock.

Analysts Set New Price Targets

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

NMI Stock Performance

Shares of NASDAQ NMIH traded up $0.18 during trading on Wednesday, reaching $38.63. 62,609 shares of the stock traded hands, compared to its average volume of 541,006. NMI Holdings Inc has a 52-week low of $31.90 and a 52-week high of $43.20. 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 company has a 50-day moving average of $38.84 and a 200-day moving average of $37.86. The stock has a market capitalization of $3.00 billion, a P/E ratio of 8.20, a price-to-earnings-growth ratio of 1.13 and a beta of 0.55.

NMI (NASDAQ:NMIH - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.16 by $0.06. The business had revenue of $149.07 million for the quarter, compared to analysts' expectations of $173.39 million. NMI had a return on equity of 16.51% and a net margin of 55.57%.The firm's quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.20 EPS. Analysts forecast that NMI Holdings Inc will post 4.62 EPS for the current fiscal year.

NMI Company 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.