State of Tennessee Department of Treasury Increases Stake in NMI Holdings, Inc. (NASDAQ:NMIH)

State of Tennessee Department of Treasury raised its position in NMI Holdings, Inc. (NASDAQ:NMIH - Free Report) by 15.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 63,732 shares of the financial services provider's stock after buying an additional 8,541 shares during the period. State of Tennessee Department of Treasury owned 0.08% of NMI worth $2,343,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of NMIH. JPMorgan Chase & Co. grew its position in shares of NMI by 3.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 775,804 shares of the financial services provider's stock valued at $31,955,000 after acquiring an additional 24,838 shares during the period. Assetmark Inc. raised its stake in shares of NMI by 12.6% in the fourth quarter. Assetmark Inc. now owns 88,010 shares of the financial services provider's stock valued at $3,235,000 after buying an additional 9,842 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of NMI by 1.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,075,428 shares of the financial services provider's stock valued at $39,533,000 after buying an additional 11,347 shares during the last quarter. Barclays PLC grew its stake in shares of NMI by 264.4% during the 3rd quarter. Barclays PLC now owns 386,999 shares of the financial services provider's stock worth $15,940,000 after acquiring an additional 280,809 shares during the period. Finally, abrdn plc bought a new stake in NMI in the 4th quarter valued at about $8,122,000. Institutional investors own 94.12% of the company's stock.

NMI Price Performance

NMIH stock traded up $1.24 during mid-day trading on Friday, hitting $37.62. 806,930 shares of the stock were exchanged, compared to its average volume of 548,496. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.60 and a quick ratio of 0.83. The stock has a market capitalization of $2.94 billion, a price-to-earnings ratio of 8.49, a PEG ratio of 1.41 and a beta of 0.62. The business has a fifty day moving average price of $34.90 and a 200 day moving average price of $36.80. NMI Holdings, Inc. has a 12 month low of $31.59 and a 12 month high of $42.49.

NMI (NASDAQ:NMIH - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The financial services provider reported $1.28 EPS for the quarter, topping the consensus estimate of $1.10 by $0.18. NMI had a net margin of 55.32% and a return on equity of 17.33%. The firm had revenue of $173.25 million for the quarter, compared to the consensus estimate of $169.04 million. During the same period last year, the firm posted $1.08 earnings per share. The business's revenue was up 10.8% compared to the same quarter last year. On average, sell-side analysts anticipate that NMI Holdings, Inc. will post 4.62 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently issued reports on NMIH. JPMorgan Chase & Co. lowered their price target on shares of NMI from $42.00 to $41.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. UBS Group decreased their price objective on NMI from $42.00 to $41.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 19th. Keefe, Bruyette & Woods decreased their target price on shares of NMI from $43.00 to $42.00 and set an "outperform" rating on the stock in a report on Tuesday, April 8th. Finally, Barclays downgraded shares of NMI from an "overweight" rating to an "equal weight" rating and cut their price target for the company from $48.00 to $41.00 in a report on Monday, January 6th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $42.14.

Insider Activity

In other NMI news, EVP Mohammad Nawaz Yousaf sold 1,083 shares of the firm's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $35.44, for a total value of $38,381.52. Following the sale, the executive vice president now owns 49,218 shares of the company's stock, valued at $1,744,285.92. This trade represents a 2.15 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Norman Peter Fitzgerald sold 20,000 shares of the business's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $35.88, for a total transaction of $717,600.00. Following the completion of the transaction, the executive vice president now owns 37,470 shares in the company, valued at $1,344,423.60. The trade was a 34.80 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.00% 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.