Seizert Capital Partners LLC Buys New Holdings in NMI Holdings Inc (NASDAQ:NMIH)

Key Points

• Seizert Capital Partners LLC acquired a new stake in NMI Holdings Inc, purchasing 60,802 shares valued at approximately $2.19 million, representing about 0.08% of the company.
• Several institutional investors, including LPL Financial LLC and JPMorgan Chase & Co., have increased their holdings in NMI, indicating strong interest from hedge funds.
• NMI Holdings reported a quarterly EPS of $1.22, exceeding analysts' expectations, but its revenue was below projections, prompting mixed ratings from equity research analysts.

Seizert Capital Partners LLC bought a new position in shares of NMI Holdings Inc (NASDAQ:NMIH - Free Report) during the first quarter, according to its most recent filing with the SEC. The fund bought 60,802 shares of the financial services provider's stock, valued at approximately $2,192,000. Seizert Capital Partners LLC owned 0.08% of NMI at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Sumitomo Mitsui Trust Group Inc. grew 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 worth $281,000 after purchasing an additional 1,200 shares in the last quarter. Principal Financial Group Inc. raised 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 acquiring an additional 10,377 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised 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 acquiring an additional 5,492 shares in the last quarter. Allspring Global Investments Holdings LLC raised 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 acquiring an additional 6,659 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in NMI in the first quarter worth $530,000. 94.12% of the stock is currently owned by institutional investors.

NMI Stock Performance

Shares of NMI stock traded down $0.13 during trading on Friday, hitting $37.19. 585,663 shares of the company's stock traded hands, compared to its average volume of 504,770. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.74 and a quick ratio of 0.74. NMI Holdings Inc has a 1 year low of $31.90 and a 1 year high of $43.20. The stock has a market capitalization of $2.88 billion, a P/E ratio of 7.90, a PEG ratio of 1.13 and a beta of 0.57. The business has a 50-day simple moving average of $39.71 and a 200-day simple moving average of $37.36.

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

Insider Transactions at NMI

In other news, Director Michael Curry Montgomery sold 1,875 shares of the firm's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $38.05, for a total value of $71,343.75. Following the transaction, the director owned 66,068 shares of the company's stock, valued at $2,513,887.40. This trade represents a 2.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Bradley M. Shuster sold 21,545 shares of the firm's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $39.56, for a total value of $852,320.20. Following the completion of the transaction, the chairman directly owned 409,792 shares in the company, valued at $16,211,371.52. This trade represents a 4.99% decrease in their position. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

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

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.