Meeder Asset Management Inc. raised its position in shares of NMI Holdings Inc (NASDAQ:NMIH) by 136.2% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 21,310 shares of the financial services provider’s stock after purchasing an additional 12,288 shares during the quarter. Meeder Asset Management Inc.’s holdings in NMI were worth $560,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the business. BlackRock Inc. increased its stake in NMI by 1.5% during the 2nd quarter. BlackRock Inc. now owns 9,752,543 shares of the financial services provider’s stock valued at $276,876,000 after purchasing an additional 143,075 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of NMI by 2.5% during the 2nd quarter. Vanguard Group Inc. now owns 5,354,901 shares of the financial services provider’s stock valued at $152,025,000 after acquiring an additional 128,263 shares during the last quarter. FMR LLC boosted its holdings in shares of NMI by 44.8% during the 1st quarter. FMR LLC now owns 2,501,047 shares of the financial services provider’s stock valued at $64,702,000 after acquiring an additional 773,781 shares during the last quarter. Eagle Asset Management Inc. purchased a new stake in shares of NMI during the 2nd quarter valued at about $37,045,000. Finally, Carillon Tower Advisers Inc. purchased a new stake in shares of NMI during the 2nd quarter valued at about $31,831,000. Institutional investors and hedge funds own 90.75% of the company’s stock.
A number of brokerages have recently issued reports on NMIH. BidaskClub downgraded shares of NMI from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 7th. Credit Suisse Group began coverage on shares of NMI in a report on Thursday, October 10th. They set a “neutral” rating and a $30.00 price target on the stock. ValuEngine downgraded shares of NMI from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. BTIG Research set a $36.00 price target on shares of NMI and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, Zacks Investment Research downgraded shares of NMI from a “hold” rating to a “sell” rating in a report on Saturday. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $31.00.
Shares of NASDAQ:NMIH opened at $27.82 on Monday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.43 and a quick ratio of 0.43. NMI Holdings Inc has a 1-year low of $15.62 and a 1-year high of $31.34. The company has a market capitalization of $1.90 billion, a P/E ratio of 16.76 and a beta of 1.23. The firm’s 50 day simple moving average is $27.40 and its two-hundred day simple moving average is $27.55.
NMI (NASDAQ:NMIH) last issued its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.04. NMI had a net margin of 41.31% and a return on equity of 19.65%. The business had revenue of $91.18 million for the quarter, compared to the consensus estimate of $85.11 million. On average, sell-side analysts anticipate that NMI Holdings Inc will post 2.4 earnings per share for the current fiscal year.
In other news, insider Bradley M. Shuster sold 38,125 shares of NMI stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $28.01, for a total transaction of $1,067,881.25. Following the sale, the insider now owns 604,420 shares in the company, valued at $16,929,804.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Adam Pollitzer sold 4,821 shares of NMI stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $28.02, for a total transaction of $135,084.42. The disclosure for this sale can be found here. In the last quarter, insiders have sold 123,818 shares of company stock worth $3,434,097. Company insiders own 4.20% of the company’s stock.
NMI Company Profile
NMI Holdings, Inc, through its subsidiaries, provides private mortgage guaranty insurance services in the United States. The company offers mortgage insurance; reinsurance on loans; 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.
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