Teacher Retirement System of Texas Acquires 34,907 Shares of NMI Holdings Inc $NMIH

Key Points

• Teacher Retirement System of Texas boosted its NMIH stake by 22.9%, buying an additional 34,907 shares to hold 187,189 shares (about $7.64 million, ~0.24% of the company).
• Insiders have been net sellers, disposing of 189,412 shares (~$7.36 million) in the past three months, including sales by Chairman Bradley Shuster and EVP Norman Fitzgerald, leaving insiders with about 2.44% ownership.
• Analyst sentiment is a consensus "Moderate Buy" (four Buys, one Hold) with an average target of $43.20; NMIH trades near $41.11 and has a P/E of 8.37 and market cap of about $3.13 billion.

Teacher Retirement System of Texas grew its holdings in shares of NMI Holdings Inc (NASDAQ:NMIH - Free Report) by 22.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 187,189 shares of the financial services provider's stock after buying an additional 34,907 shares during the quarter. Teacher Retirement System of Texas owned approximately 0.24% of NMI worth $7,635,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Exchange Traded Concepts LLC bought a new position in NMI during the 3rd quarter worth $1,926,000. Public Sector Pension Investment Board increased its stake in NMI by 5.4% during the 3rd quarter. Public Sector Pension Investment Board now owns 597,447 shares of the financial services provider's stock worth $22,906,000 after acquiring an additional 30,341 shares during the period. Tudor Investment Corp ET AL increased its stake in NMI by 62.6% during the 3rd quarter. Tudor Investment Corp ET AL now owns 368,840 shares of the financial services provider's stock worth $14,141,000 after acquiring an additional 142,065 shares during the period. Y Intercept Hong Kong Ltd increased its stake in NMI by 219.9% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 86,824 shares of the financial services provider's stock worth $3,329,000 after acquiring an additional 59,682 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in NMI by 0.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 4,288,867 shares of the financial services provider's stock worth $164,437,000 after acquiring an additional 31,570 shares during the period. 94.12% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

NMIH has been the topic of a number of recent research reports. Keefe, Bruyette & Woods raised their price objective on NMI from $48.00 to $50.00 and gave the stock an "outperform" rating in a research note on Friday, April 10th. UBS Group set a $43.00 price objective on NMI in a research note on Monday, January 12th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of NMI in a report on Thursday, January 22nd. JPMorgan Chase & Co. reduced their target price on NMI from $44.00 to $43.00 and set an "overweight" rating on the stock in a report on Thursday, April 9th. Finally, Barclays reduced their target price on NMI from $44.00 to $43.00 and set an "equal weight" rating on the stock in a report on Monday, April 6th. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $43.20.

Insider Activity at NMI

In other news, Chairman Bradley M. Shuster sold 18,953 shares of the stock in a transaction that occurred on Tuesday, March 24th. The stock was sold at an average price of $37.35, for a total value of $707,894.55. Following the completion of the sale, the chairman directly owned 415,411 shares of the company's stock, valued at $15,515,600.85. This represents a 4.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Norman Peter Fitzgerald sold 22,500 shares of the stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $39.94, for a total value of $898,650.00. Following the completion of the sale, the executive vice president directly owned 32,445 shares of the company's stock, valued at approximately $1,295,853.30. This trade represents a 40.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 189,412 shares of company stock valued at $7,357,746 in the last three months. Corporate insiders own 2.44% of the company's stock.

NMI Price Performance

Shares of NMIH opened at $41.11 on Friday. NMI Holdings Inc has a 1 year low of $33.11 and a 1 year high of $43.20. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.57 and a quick ratio of 0.57. The company has a market capitalization of $3.13 billion, a price-to-earnings ratio of 8.37, a price-to-earnings-growth ratio of 1.19 and a beta of 0.64. The business has a 50-day moving average of $38.55 and a 200-day moving average of $38.46.

NMI (NASDAQ:NMIH - Get Free Report) last announced its quarterly earnings data on Tuesday, February 10th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.17 by $0.03. NMI had a return on equity of 15.78% and a net margin of 55.05%.The company had revenue of $180.74 million for the quarter, compared to the consensus estimate of $180.69 million. During the same period in the previous year, the business earned $1.07 EPS. As a group, equities research analysts anticipate that NMI Holdings Inc will post 5.12 earnings per share for the current year.

About NMI

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.