Wellington Management Group LLP Trims Stock Holdings in NMI Holdings Inc $NMIH

Key Points

• Wellington Management Group LLP reduced its stake in NMI Holdings Inc by 2.8%, selling 10,213 shares during the 1st quarter, leaving it with approximately 360,762 shares valued at $13 million.
• Analysts recently downgraded NMI from a "buy" to a "hold" rating, while some firms raised their price targets, with an average target now at $42.33.
• The Chairman of NMI Holdings, Bradley M. Shuster, sold 21,545 shares for approximately $852,320, representing a 4.99% decrease in his ownership in the company.

Wellington Management Group LLP cut its position in shares of NMI Holdings Inc (NASDAQ:NMIH - Free Report) by 2.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 360,762 shares of the financial services provider's stock after selling 10,213 shares during the quarter. Wellington Management Group LLP owned about 0.46% of NMI worth $13,005,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Sound Income Strategies LLC acquired a new stake in NMI in the first quarter worth $25,000. Opal Wealth Advisors LLC acquired a new stake in NMI in the first quarter worth $33,000. Neo Ivy Capital Management acquired a new stake in NMI in the first quarter worth $47,000. Caitong International Asset Management Co. Ltd acquired a new stake in NMI in the first quarter worth $48,000. Finally, GAMMA Investing LLC grew its holdings in NMI by 104.2% in the first quarter. GAMMA Investing LLC now owns 1,564 shares of the financial services provider's stock worth $56,000 after purchasing an additional 798 shares during the period. 94.12% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Compass Point reaffirmed a "buy" rating and issued a $37.00 price objective (up from $34.00) on shares of NMI in a research note on Friday, May 23rd. Wall Street Zen lowered shares of NMI from a "buy" rating to a "hold" rating in a research note on Saturday, July 12th. JPMorgan Chase & Co. raised their price objective on shares of NMI from $41.00 to $44.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. Barclays raised their price objective on shares of NMI from $41.00 to $42.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 8th. Finally, Keefe, Bruyette & Woods lowered shares of NMI from an "outperform" rating to a "market perform" rating and raised their price objective for the company from $42.00 to $43.00 in a research note on Monday, July 7th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, NMI has an average rating of "Moderate Buy" and a consensus price target of $42.33.

NMI Stock Performance

NMIH stock traded up $0.02 during mid-day trading on Friday, hitting $39.35. The company had a trading volume of 224,628 shares, compared to its average volume of 357,723. The firm has a market cap of $3.05 billion, a PE ratio of 8.35, a price-to-earnings-growth ratio of 1.14 and a beta of 0.57. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.74 and a current ratio of 0.74. NMI Holdings Inc has a 12 month low of $31.90 and a 12 month high of $43.20. The stock's fifty day moving average price is $39.47 and its two-hundred day moving average price is $37.52.

NMI (NASDAQ:NMIH - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $1.22 EPS for the quarter, topping the consensus estimate of $1.16 by $0.06. The business had revenue of $149.07 million for the quarter, compared to analyst estimates of $173.39 million. NMI had a net margin of 55.57% and a return on equity of 16.51%. The company's revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.20 earnings per share. On average, analysts forecast that NMI Holdings Inc will post 4.62 earnings per share for the current fiscal year.

Insider Buying and Selling

In other NMI news, Chairman Bradley M. Shuster sold 21,545 shares of NMI stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $39.56, for a total value of $852,320.20. Following the sale, the chairman owned 409,792 shares of the company's stock, valued at approximately $16,211,371.52. The trade was a 4.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 3.00% of the company's stock.

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.