Strs Ohio Makes New Investment in NMI Holdings Inc $NMIH

Key Points

• Strs Ohio has acquired a new stake in NMI Holdings Inc, buying 27,000 shares valued at approximately $973,000.
• Several hedge funds have also increased their positions in NMI, with 94.12% of the stock owned by institutional investors.
• NMI reported strong quarterly earnings with an EPS of $1.22, beating analyst estimates, although revenue increased only 7.2% year-over-year.

Strs Ohio acquired a new position in NMI Holdings Inc (NASDAQ:NMIH - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 27,000 shares of the financial services provider's stock, valued at approximately $973,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Sound Income Strategies LLC purchased a new stake in NMI in the first quarter worth $25,000. Opal Wealth Advisors LLC bought a new position in shares of NMI in the 1st quarter worth about $33,000. Neo Ivy Capital Management bought a new stake in NMI during the first quarter worth about $47,000. Caitong International Asset Management Co. Ltd purchased a new stake in NMI in the first quarter worth about $48,000. Finally, Quarry LP lifted its holdings in shares of NMI by 89.3% during the first quarter. Quarry LP now owns 1,482 shares of the financial services provider's stock valued at $53,000 after purchasing an additional 699 shares during the last quarter. Hedge funds and other institutional investors own 94.12% of the company's stock.

NMI Stock Performance

NMIH stock traded down $0.63 during trading on Monday, reaching $38.83. The stock had a trading volume of 383,161 shares, compared to its average volume of 336,451. The firm has a market cap of $3.01 billion, a PE ratio of 8.24, a PEG ratio of 1.14 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. The stock's 50 day moving average is $38.87 and its two-hundred day moving average is $37.96. NMI Holdings Inc has a 52 week low of $31.90 and a 52 week high of $43.20.

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 for the quarter, topping the consensus estimate of $1.16 by $0.06. The firm had revenue of $149.07 million for the quarter, compared to analysts' expectations of $173.39 million. NMI had a net margin of 55.57% and a return on equity of 16.51%. The business's quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.20 EPS. As a group, equities analysts anticipate that NMI Holdings Inc will post 4.62 earnings per share for the current year.

Insider Buying and Selling at NMI

In related news, Director Steven Scheid sold 19,926 shares of the business's stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $39.31, for a total transaction of $783,291.06. Following the completion of the transaction, the director directly owned 78,960 shares in the company, valued at approximately $3,103,917.60. The trade was a 20.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on NMIH shares. JPMorgan Chase & Co. raised their price objective on NMI from $41.00 to $44.00 and gave the company an "overweight" rating in a research report on Friday, July 11th. Wall Street Zen lowered NMI from a "buy" rating to a "hold" rating in a research report on Saturday, July 12th. Barclays upped their price target on shares of NMI from $41.00 to $42.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 8th. Finally, Keefe, Bruyette & Woods cut shares of NMI from an "outperform" rating to a "market perform" rating and lifted their target price for the stock from $42.00 to $43.00 in a report on Monday, July 7th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" 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.