Wedge Capital Management L L P NC Raises Holdings in NMI Holdings, Inc. (NASDAQ:NMIH)

Wedge Capital Management L L P NC boosted its stake in shares of NMI Holdings, Inc. (NASDAQ:NMIH - Free Report) by 10.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 276,542 shares of the financial services provider's stock after purchasing an additional 26,565 shares during the quarter. Wedge Capital Management L L P NC owned about 0.34% of NMI worth $8,208,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in NMI by 2.5% during the third quarter. Vanguard Group Inc. now owns 6,583,844 shares of the financial services provider's stock worth $178,356,000 after acquiring an additional 162,614 shares during the period. Van Berkom & Associates Inc. increased its position in NMI by 7.3% during the third quarter. Van Berkom & Associates Inc. now owns 2,708,797 shares of the financial services provider's stock worth $73,381,000 after acquiring an additional 185,099 shares during the period. American Century Companies Inc. increased its position in NMI by 11.6% during the third quarter. American Century Companies Inc. now owns 988,812 shares of the financial services provider's stock worth $26,787,000 after acquiring an additional 102,857 shares during the period. Charles Schwab Investment Management Inc. increased its position in NMI by 8.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 899,056 shares of the financial services provider's stock worth $24,355,000 after acquiring an additional 71,617 shares during the period. Finally, Assenagon Asset Management S.A. increased its position in NMI by 88.1% during the fourth quarter. Assenagon Asset Management S.A. now owns 859,955 shares of the financial services provider's stock worth $25,523,000 after acquiring an additional 402,793 shares during the period. 94.12% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on NMIH shares. Royal Bank of Canada raised their price target on shares of NMI from $31.00 to $33.00 and gave the stock a "sector perform" rating in a research report on Thursday, February 15th. StockNews.com lowered shares of NMI from a "buy" rating to a "hold" rating in a report on Thursday, March 21st. JPMorgan Chase & Co. raised their target price on shares of NMI from $34.00 to $35.00 and gave the company an "overweight" rating in a report on Wednesday, April 3rd. Keefe, Bruyette & Woods raised their target price on shares of NMI from $33.00 to $36.00 and gave the company a "market perform" rating in a report on Thursday, April 4th. Finally, Truist Financial raised their price target on shares of NMI from $34.00 to $36.00 and gave the company a "buy" rating in a research note on Thursday, February 15th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, NMI currently has a consensus rating of "Moderate Buy" and a consensus price target of $34.44.

NMI Trading Down 0.0 %

NASDAQ:NMIH traded down $0.01 during mid-day trading on Wednesday, hitting $30.78. 348,186 shares of the company's stock were exchanged, compared to its average volume of 545,399. The company has a 50 day simple moving average of $30.25 and a 200-day simple moving average of $29.31. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.21. NMI Holdings, Inc. has a fifty-two week low of $22.22 and a fifty-two week high of $32.50. The firm has a market capitalization of $2.48 billion, a P/E ratio of 8.04, a PEG ratio of 1.13 and a beta of 1.06.

NMI (NASDAQ:NMIH - Get Free Report) last posted its earnings results on Wednesday, February 14th. The financial services provider reported $1.01 EPS for the quarter, topping the consensus estimate of $0.95 by $0.06. NMI had a net margin of 55.63% and a return on equity of 17.97%. The business had revenue of $151.38 million for the quarter, compared to the consensus estimate of $131.70 million. During the same period last year, the company earned $0.86 EPS. The firm's revenue was up 13.7% compared to the same quarter last year. As a group, research analysts expect that NMI Holdings, Inc. will post 4.05 earnings per share for the current year.

Insider Transactions at NMI

In other news, Chairman Bradley M. Shuster sold 6,559 shares of the business's stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $29.81, for a total value of $195,523.79. Following the transaction, the chairman now owns 453,298 shares in the company, valued at approximately $13,512,813.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Robert Owen Smith sold 3,000 shares of the business's stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $31.19, for a total value of $93,570.00. Following the transaction, the executive vice president now owns 82,612 shares in the company, valued at approximately $2,576,668.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Bradley M. Shuster sold 6,559 shares of NMI stock in a transaction on Friday, February 9th. The shares were sold at an average price of $29.81, for a total transaction of $195,523.79. Following the completion of the sale, the chairman now owns 453,298 shares of the company's stock, valued at approximately $13,512,813.38. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 145,158 shares of company stock worth $4,395,582. Company insiders own 2.40% of the company's stock.

NMI Profile

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.