Rhumbline Advisers Sells 10,863 Shares of 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 trimmed its stake in shares of NMI Holdings Inc (NASDAQ:NMIH - Free Report) by 4.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 215,305 shares of the financial services provider's stock after selling 10,863 shares during the period. Rhumbline Advisers owned about 0.28% of NMI worth $7,762,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of NMI by 18.2% during 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 last quarter. Principal Financial Group Inc. lifted its holdings in shares of NMI by 2.3% during the first quarter. Principal Financial Group Inc. now owns 462,641 shares of the financial services provider's stock valued at $16,678,000 after purchasing an additional 10,377 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of NMI by 90.8% during 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 purchasing an additional 5,492 shares during the last quarter. Entropy Technologies LP lifted its holdings in shares of NMI by 136.9% during the first quarter. Entropy Technologies LP now owns 18,688 shares of the financial services provider's stock valued at $674,000 after purchasing an additional 10,800 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of 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 valued at $696,000 after purchasing an additional 6,659 shares during the last quarter. 94.12% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

NMI Stock Performance

NASDAQ:NMIH traded down $0.59 during mid-day trading on Tuesday, hitting $38.44. 121,002 shares of the company's stock traded hands, compared to its average volume of 542,693. The firm has a 50 day moving average of $38.89 and a two-hundred day moving average of $37.85. NMI Holdings Inc has a 12 month low of $31.90 and a 12 month high of $43.20. The firm has a market capitalization of $2.98 billion, a price-to-earnings ratio of 8.15, a price-to-earnings-growth ratio of 1.15 and a beta of 0.55. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.17.

NMI (NASDAQ:NMIH - Get Free Report) last announced its earnings results on Tuesday, July 29th. The financial services provider reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.06. NMI had a return on equity of 16.51% and a net margin of 55.57%.The firm had revenue of $149.07 million during the quarter, compared to the consensus estimate of $173.39 million. During the same quarter in the prior year, the company earned $1.20 EPS. The firm's revenue for the quarter was up 7.2% compared to the same quarter last year. On average, equities analysts forecast that NMI Holdings Inc will post 4.62 earnings per share for the current fiscal year.

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.