NMI Holdings, Inc. (NASDAQ:NMIH) Position Reduced by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC trimmed its stake in NMI Holdings, Inc. (NASDAQ:NMIH - Free Report) by 23.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 128,802 shares of the financial services provider's stock after selling 40,014 shares during the quarter. Wedge Capital Management L L P NC owned approximately 0.16% of NMI worth $4,643,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Principal Securities Inc. increased its position in NMI by 66.5% during the 4th quarter. Principal Securities Inc. now owns 716 shares of the financial services provider's stock worth $26,000 after purchasing an additional 286 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of NMI by 288.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,868 shares of the financial services provider's stock worth $69,000 after buying an additional 1,387 shares in the last quarter. Covestor Ltd grew its holdings in shares of NMI by 601.1% during the fourth quarter. Covestor Ltd now owns 1,893 shares of the financial services provider's stock worth $70,000 after buying an additional 1,623 shares in the last quarter. Sterling Capital Management LLC raised its position in shares of NMI by 786.1% in the fourth quarter. Sterling Capital Management LLC now owns 2,295 shares of the financial services provider's stock valued at $84,000 after buying an additional 2,036 shares during the last quarter. Finally, Virtus Fund Advisers LLC lifted its stake in shares of NMI by 43.7% during the fourth quarter. Virtus Fund Advisers LLC now owns 3,714 shares of the financial services provider's stock valued at $137,000 after buying an additional 1,129 shares during the period. 94.12% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at NMI

In other NMI news, insider William J. Leatherberry sold 13,111 shares of the business's stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $35.56, for a total transaction of $466,227.16. Following the transaction, the insider now owns 163,796 shares in the company, valued at $5,824,585.76. The trade was a 7.41% 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 Robert Owen Smith sold 20,000 shares of the firm's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $36.58, for a total value of $731,600.00. Following the sale, the executive vice president now owns 84,566 shares in the company, valued at approximately $3,093,424.28. The trade was a 19.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 113,697 shares of company stock valued at $4,210,337 over the last ninety days. Corporate insiders own 3.00% of the company's stock.

NMI Trading Up 0.5%

NMI stock traded up $0.20 during midday trading on Thursday, reaching $40.60. The stock had a trading volume of 434,594 shares, compared to its average volume of 555,941. The stock's 50-day simple moving average is $36.61 and its 200 day simple moving average is $36.78. NMI Holdings, Inc. has a twelve month low of $31.67 and a twelve month high of $42.49. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.83 and a current ratio of 0.60. The stock has a market capitalization of $3.17 billion, a PE ratio of 9.16, a price-to-earnings-growth ratio of 1.41 and a beta of 0.55.

NMI (NASDAQ:NMIH - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The financial services provider reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.18. The business had revenue of $173.25 million for the quarter, compared to analyst estimates of $169.04 million. NMI had a return on equity of 17.33% and a net margin of 55.32%. The company's revenue was up 10.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.08 EPS. Analysts expect that NMI Holdings, Inc. will post 4.62 EPS for the current year.

Analysts Set New Price Targets

Several analysts have commented on NMIH shares. Keefe, Bruyette & Woods lowered their target price on shares of NMI from $43.00 to $42.00 and set an "outperform" rating for the company in a research note on Tuesday, April 8th. Wall Street Zen raised NMI from a "hold" rating to a "buy" rating in a research report on Monday, May 5th. JPMorgan Chase & Co. dropped their target price on NMI from $42.00 to $41.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Compass Point reissued a "buy" rating and issued a $37.00 price target (up from $34.00) on shares of NMI in a research note on Friday, May 23rd. Finally, UBS Group lowered their price target on NMI from $42.00 to $41.00 and set a "neutral" rating for the company in a report on Wednesday, February 19th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $42.29.

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.