Assetmark Inc. Has $3.23 Million Position in NMI Holdings Inc (NASDAQ:NMIH)

Assetmark Inc. raised its holdings in shares of NMI Holdings Inc (NASDAQ:NMIH) by 1.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 89,666 shares of the financial services provider’s stock after buying an additional 1,656 shares during the quarter. Assetmark Inc.’s holdings in NMI were worth $3,232,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of NMIH. LPL Financial LLC lifted its holdings in shares of NMI by 197.6% during the fourth quarter. LPL Financial LLC now owns 49,962 shares of the financial services provider’s stock worth $1,837,000 after buying an additional 33,174 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of NMI by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 7,158,877 shares of the financial services provider’s stock worth $263,160,000 after buying an additional 39,503 shares during the last quarter. Prudential Financial Inc. lifted its holdings in shares of NMI by 17.6% during the fourth quarter. Prudential Financial Inc. now owns 104,882 shares of the financial services provider’s stock worth $3,855,000 after buying an additional 15,685 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of NMI by 25.3% during the fourth quarter. JPMorgan Chase & Co. now owns 971,863 shares of the financial services provider’s stock worth $35,726,000 after buying an additional 196,059 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of NMI during the fourth quarter worth approximately $13,174,000. 94.12% of the stock is currently owned by institutional investors and hedge funds.

NMI Stock Performance

NMI stock opened at $37.96 on Wednesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.74 and a quick ratio of 0.74. The stock has a fifty day moving average price of $39.74 and a two-hundred day moving average price of $37.33. NMI Holdings Inc has a 52-week low of $31.90 and a 52-week high of $43.20. The firm has a market capitalization of $2.97 billion, a P/E ratio of 8.20, a P/E/G ratio of 1.15 and a beta of 0.55.

NMI (NASDAQ:NMIH) last released its quarterly earnings data 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 return on equity of 17.27% and a net margin of 55.93%. The firm had revenue of $149.07 million during the quarter, compared to analyst estimates of $173.39 million. During the same period in the prior year, the company posted $1.20 earnings per share. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. As a group, analysts anticipate that NMI Holdings Inc will post 4.62 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Wall Street Zen lowered NMI from a “buy” rating to a “hold” rating in a report on Saturday, July 12th. Keefe, Bruyette & Woods lowered NMI from an “outperform” rating to a “market perform” rating and upped their target price for the company from $42.00 to $43.00 in a research note on Monday, July 7th. Barclays upped their target price on NMI from $41.00 to $42.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 8th. JPMorgan Chase & Co. upped their target price on NMI from $41.00 to $44.00 and gave the company an “overweight” rating in a research note on Friday, July 11th. Finally, Compass Point restated a “buy” rating and issued a $37.00 target price (up from $34.00) on shares of NMI in a research note on Friday, May 23rd. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $43.00.

Insider Buying and Selling

In other NMI news, Chairman Bradley M. Shuster sold 21,545 shares of the stock in a transaction on Friday, June 6th. The stock was sold at an average price of $39.56, for a total transaction of $852,320.20. Following the completion of the transaction, the chairman directly owned 409,792 shares in the company, valued at $16,211,371.52. This represents a 4.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Michael Curry Montgomery sold 1,875 shares of the stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $38.05, for a total value of $71,343.75. Following the transaction, the director owned 66,068 shares of the company’s stock, valued at $2,513,887.40. This represents a 2.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 100,586 shares of company stock valued at $3,744,110. 3.00% of the stock is owned by insiders.

NMI Company 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.