Vanguard Group Inc. Has $258.41 Million Position in NMI Holdings Inc $NMIH

Key Points

• Vanguard Group Inc. increased its investment in NMI Holdings Inc by 0.1% in Q1, bringing its total holdings to approximately 9.18%, valued at about $258.41 million.
• Multiple analysts have revised their target prices for NMI, with JPMorgan Chase raising its target from $41.00 to $44.00 and maintaining an "overweight" rating.
• Despite these positive adjustments, the company experienced a 0.8% drop in share trading, with shares opening at $38.67, amid mixed performance in recent earnings reports.

Vanguard Group Inc. boosted its holdings in NMI Holdings Inc (NASDAQ:NMIH - Free Report) by 0.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,167,957 shares of the financial services provider's stock after buying an additional 9,080 shares during the period. Vanguard Group Inc. owned approximately 9.18% of NMI worth $258,405,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Assenagon Asset Management S.A. raised its holdings in NMI by 70.9% in the first quarter. Assenagon Asset Management S.A. now owns 2,034,419 shares of the financial services provider's stock worth $73,341,000 after purchasing an additional 844,037 shares during the period. Capital World Investors raised its holdings in NMI by 21.1% in the fourth quarter. Capital World Investors now owns 1,150,000 shares of the financial services provider's stock worth $42,274,000 after purchasing an additional 200,000 shares during the period. Captrust Financial Advisors acquired a new stake in NMI in the fourth quarter worth $5,747,000. Tudor Investment Corp ET AL raised its holdings in NMI by 325.3% in the fourth quarter. Tudor Investment Corp ET AL now owns 151,719 shares of the financial services provider's stock worth $5,577,000 after purchasing an additional 116,047 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in NMI in the first quarter worth $4,154,000. 94.12% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on NMIH. JPMorgan Chase & Co. increased their target price on shares of NMI from $41.00 to $44.00 and gave the stock an "overweight" rating in a report on Friday, July 11th. Keefe, Bruyette & Woods lowered shares of 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 report on Monday, July 7th. Compass Point restated a "buy" rating and set a $37.00 price objective (up from $34.00) on shares of NMI in a report on Friday, May 23rd. Wall Street Zen lowered shares of NMI from a "buy" rating to a "hold" rating in a report on Saturday, July 12th. Finally, Barclays raised their price objective on shares of NMI from $41.00 to $42.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 8th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $42.33.

Insiders Place Their Bets

In related news, Chairman Bradley M. Shuster sold 21,545 shares of the firm's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $39.56, for a total value of $852,320.20. Following the completion of the transaction, the chairman owned 409,792 shares of the company's stock, valued at approximately $16,211,371.52. This trade represents a 4.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 3.00% of the company's stock.

NMI Trading Down 0.8%

Shares of NASDAQ:NMIH opened at $38.67 on Tuesday. NMI Holdings Inc has a 12 month low of $31.90 and a 12 month high of $43.20. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.17. The company's fifty day simple moving average is $39.62 and its 200 day simple moving average is $37.40. The firm has a market cap of $3.00 billion, a price-to-earnings ratio of 8.21, a PEG ratio of 1.13 and a beta of 0.57.

NMI (NASDAQ:NMIH - Get Free Report) last released 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. The business had revenue of $149.07 million during the quarter, compared to the consensus estimate of $173.39 million. NMI had a net margin of 55.57% and a return on equity of 16.51%. The firm's revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.20 earnings per share. As a group, research analysts forecast that NMI Holdings Inc will post 4.62 EPS 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.

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