New York State Teachers Retirement System Sells 31,630 Shares of NMI Holdings Inc $NMIH

New York State Teachers Retirement System lessened its position in shares of NMI Holdings Inc (NASDAQ:NMIH) by 23.0% in the first quarter, HoldingsChannel reports. The fund owned 105,799 shares of the financial services provider’s stock after selling 31,630 shares during the period. New York State Teachers Retirement System’s holdings in NMI were worth $3,969,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in NMIH. Allworth Financial LP boosted its stake in NMI by 196.0% in the 3rd quarter. Allworth Financial LP now owns 660 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 437 shares during the period. Maseco LLP bought a new stake in shares of NMI in the fourth quarter valued at about $31,000. IFP Advisors Inc grew its stake in shares of NMI by 189.5% in the fourth quarter. IFP Advisors Inc now owns 796 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 521 shares in the last quarter. Farther Finance Advisors LLC increased its position in NMI by 161.5% during the fourth quarter. Farther Finance Advisors LLC now owns 1,004 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 620 shares during the period. Finally, Rockefeller Capital Management L.P. raised its stake in NMI by 35.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,160 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 301 shares in the last quarter. Institutional investors and hedge funds own 94.12% of the company’s stock.

NMI Stock Performance

NASDAQ:NMIH opened at $41.00 on Thursday. NMI Holdings Inc has a twelve month low of $34.84 and a twelve month high of $42.28. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.16. The stock’s 50-day simple moving average is $38.22 and its 200 day simple moving average is $38.80. The firm has a market capitalization of $3.11 billion, a PE ratio of 8.35, a price-to-earnings-growth ratio of 1.43 and a beta of 0.54.

NMI (NASDAQ:NMIH) last posted its earnings results on Thursday, April 30th. The financial services provider reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.06. The firm had revenue of $183.47 million during the quarter, compared to analysts’ expectations of $153.99 million. NMI had a net margin of 53.82% and a return on equity of 15.18%. The business’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.28 earnings per share. On average, analysts anticipate that NMI Holdings Inc will post 5.12 EPS for the current fiscal year.

Analysts Set New Price Targets

NMIH has been the topic of a number of analyst reports. Barclays decreased their target price on shares of NMI from $44.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Monday, April 6th. JPMorgan Chase & Co. lowered their price objective on NMI from $44.00 to $43.00 and set an “overweight” rating on the stock in a research note on Thursday, April 9th. Keefe, Bruyette & Woods upped their target price on NMI from $46.00 to $47.00 and gave the company an “outperform” rating in a research report on Thursday, June 25th. Royal Bank Of Canada assumed coverage on NMI in a research report on Friday, May 22nd. They issued an “outperform” rating and a $46.00 price target on the stock. Finally, UBS Group set a $46.00 price objective on shares of NMI in a research report on Friday, May 22nd. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, NMI currently has an average rating of “Moderate Buy” and an average price target of $45.00.

Insider Activity at NMI

In related news, Director Michael Curry Montgomery sold 1,554 shares of the firm’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $37.90, for a total transaction of $58,896.60. Following the sale, the director owned 69,026 shares of the company’s stock, valued at $2,616,085.40. This trade represents a 2.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 2.44% of the company’s stock.

NMI Profile

NMI Holdings, Inc (NASDAQ: NMIH) is a publicly traded mortgage insurance company that provides private mortgage insurance to lenders across the United States and Canada. Through its principal subsidiary, National Mortgage Insurance Corporation, NMI underwrites and issues policies that protect originators and investors against losses arising from borrower default on residential mortgage loans. By mitigating credit risk on higher?loan?to?value mortgages, the company supports homebuyers’ access to financing and contributes to overall market liquidity.

Beyond its core mortgage insurance products, NMI offers credit risk?sharing and reinsurance solutions designed to help clients optimize capital utilization and manage portfolio exposure.