VIRGINIA RETIREMENT SYSTEMS ET Al Makes New Investment in NMI Holdings Inc $NMIH

Key Points

• Virginia Retirement Systems bought 27,506 shares of NMI Holdings worth approximately $1.13 million, while institutional investors collectively own 94.12% of the company.
• NMI Holdings exceeded quarterly expectations, reporting $1.38 in earnings per share and $187.89 million in revenue; revenue increased 8.1% year over year.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $48.33, although company insiders sold roughly $8.8 million in stock over the past 90 days.

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of NMI Holdings Inc (NASDAQ:NMIH - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 27,506 shares of the financial services provider's stock, valued at approximately $1,130,000.

A number of other large investors also recently made changes to their positions in the business. Allworth Financial LP boosted its holdings in shares of NMI by 196.0% during the third quarter. Allworth Financial LP now owns 660 shares of the financial services provider's stock worth $25,000 after purchasing an additional 437 shares during the period. Nykredit A S acquired a new position in NMI in the 2nd quarter valued at approximately $31,000. IFP Advisors Inc increased its stake in NMI by 189.5% in the 4th quarter. IFP Advisors Inc now owns 796 shares of the financial services provider's stock valued at $32,000 after buying an additional 521 shares during the period. Public Employees Retirement System of Ohio acquired a new position in NMI in the 2nd quarter valued at approximately $36,000. Finally, Pacer Advisors Inc. lifted its position in NMI by 58.7% in the 1st quarter. Pacer Advisors Inc. now owns 1,006 shares of the financial services provider's stock worth $38,000 after buying an additional 372 shares in the last quarter. Institutional investors and hedge funds own 94.12% of the company's stock.

NMI Price Performance

NASDAQ NMIH opened at $43.89 on Friday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $3.30 billion, a PE ratio of 8.64, a price-to-earnings-growth ratio of 1.18 and a beta of 0.53. The company has a 50 day moving average price of $43.82 and a two-hundred day moving average price of $40.21. NMI Holdings Inc has a 12-month low of $34.84 and a 12-month high of $46.74.

NMI (NASDAQ:NMIH - Get Free Report) last posted its earnings results on Thursday, July 30th. The financial services provider reported $1.38 EPS for the quarter, topping the consensus estimate of $1.28 by $0.10. NMI had a net margin of 54.10% and a return on equity of 15.13%. The company had revenue of $187.89 million during the quarter, compared to the consensus estimate of $156.26 million. During the same period in the previous year, the firm posted $1.22 earnings per share. The company's revenue for the quarter was up 8.1% compared to the same quarter last year. As a group, equities analysts predict that NMI Holdings Inc will post 5.25 earnings per share for the current fiscal year.

Insider Activity at NMI

In other NMI news, CEO Adam Pollitzer sold 172,706 shares of the firm's stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $44.85, for a total transaction of $7,745,864.10. Following the transaction, the chief executive officer directly owned 270,267 shares in the company, valued at $12,121,474.95. This trade represents a 38.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Aurora Swithenbank sold 11,662 shares of the business's stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $44.51, for a total value of $519,075.62. Following the completion of the sale, the executive vice president directly owned 50,734 shares of the company's stock, valued at $2,258,170.34. This represents a 18.69% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 196,368 shares of company stock valued at $8,800,740. Insiders own 2.44% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on NMIH. Keefe, Bruyette & Woods reissued a "market perform" rating and set a $47.00 target price on shares of NMI in a research note on Monday, August 3rd. UBS Group set a $46.00 price objective on NMI in a report on Friday, May 22nd. JPMorgan Chase & Co. lifted their price objective on NMI from $48.00 to $50.00 and gave the company an "overweight" rating in a research report on Friday, July 31st. Royal Bank Of Canada reissued an "outperform" rating and set a $53.00 price objective on shares of NMI in a research report on Tuesday, August 4th. Finally, Truist Financial boosted their target price on NMI from $49.00 to $51.00 and gave the company a "buy" rating in a research note on Friday, July 31st. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $48.33.

NMI Company Profile

NMI Holdings, Inc NASDAQ: NMIH is the parent company of National MI, a provider of private mortgage insurance in the United States. Through its insurance subsidiaries, the company offers mortgage insurance to lenders and other mortgage market participants, helping protect against losses when borrowers default on residential home loans.

National MI's products support conventional residential mortgages, including borrower-paid and lender-paid mortgage insurance arrangements. Its coverage is generally used when a homebuyer makes a down payment of less than 20%, enabling lenders to extend mortgage credit while reducing their exposure to potential default-related losses.

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