Moran Wealth Management LLC Boosts Holdings in NMI Holdings Inc $NMIH

Moran Wealth Management LLC raised its position in shares of NMI Holdings Inc (NASDAQ:NMIH) by 281.5% during the second quarter, HoldingsChannel reports. The fund owned 60,531 shares of the financial services provider’s stock after acquiring an additional 44,664 shares during the quarter. Moran Wealth Management LLC’s holdings in NMI were worth $2,554,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in NMIH. CWM LLC boosted its stake in shares of NMI by 52.3% during the 2nd quarter. CWM LLC now owns 17,010 shares of the financial services provider’s stock worth $718,000 after purchasing an additional 5,843 shares during the period. Vanguard Personalized Indexing Management LLC lifted its stake in NMI by 28.4% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 8,287 shares of the financial services provider’s stock worth $350,000 after purchasing an additional 1,833 shares during the last quarter. Muhlenkamp & Co. Inc. boosted its position in shares of NMI by 0.6% during the second quarter. Muhlenkamp & Co. Inc. now owns 465,854 shares of the financial services provider’s stock valued at $19,654,000 after buying an additional 2,883 shares during the period. KLP Kapitalforvaltning AS boosted its position in shares of NMI by 33.0% during the second quarter. KLP Kapitalforvaltning AS now owns 37,100 shares of the financial services provider’s stock valued at $1,565,000 after buying an additional 9,200 shares during the period. Finally, 111 Capital bought a new position in shares of NMI during the second quarter valued at approximately $214,000. Institutional investors own 94.12% of the company’s stock.

NMI Stock Performance

Shares of NMI stock opened at $35.91 on Thursday. 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 $38.67 and its 200-day moving average price is $38.14. The firm has a market cap of $2.79 billion, a P/E ratio of 7.62, a P/E/G ratio of 1.05 and a beta of 0.56. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.17.

NMI (NASDAQ:NMIH) last issued its earnings results on Tuesday, July 29th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.06. NMI had a net margin of 55.57% and a return on equity of 16.51%. The company had revenue of $149.07 million for the quarter, compared to analysts’ expectations of $173.39 million. During the same period in the prior year, the business earned $1.20 EPS. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. On average, equities research analysts expect that NMI Holdings Inc will post 4.62 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on NMIH shares. Keefe, Bruyette & Woods lowered NMI from an “outperform” rating to a “market perform” rating and raised their price target for the stock from $42.00 to $43.00 in a research note on Monday, July 7th. JPMorgan Chase & Co. lowered their target price on shares of NMI from $44.00 to $43.00 and set an “overweight” rating for the company in a research note on Tuesday, October 7th. Wall Street Zen cut shares of NMI from a “buy” rating to a “hold” rating in a report on Saturday, July 12th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of NMI in a research note on Wednesday, October 8th. Finally, Barclays reissued a “cautious” rating on shares of NMI in a research report on Monday, October 6th. Four equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $42.33.

Insider Activity

In related news, Director Steven Scheid sold 19,926 shares of NMI stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $39.31, for a total transaction of $783,291.06. Following the transaction, the director directly owned 78,960 shares of the company’s stock, valued at $3,103,917.60. This trade represents a 20.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate 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.