Summit Global Investments Purchases 1,377 Shares of NMI Holdings, Inc. (NASDAQ:NMIH)

Summit Global Investments raised its position in NMI Holdings, Inc. (NASDAQ:NMIH) by 3.6% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 39,564 shares of the financial services provider’s stock after acquiring an additional 1,377 shares during the period. Summit Global Investments’ holdings in NMI were worth $1,454,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Teacher Retirement System of Texas raised its stake in shares of NMI by 17.0% in the fourth quarter. Teacher Retirement System of Texas now owns 259,257 shares of the financial services provider’s stock valued at $9,530,000 after buying an additional 37,744 shares during the period. Xponance Inc. raised its stake in shares of NMI by 10.3% during the 4th quarter. Xponance Inc. now owns 5,636 shares of the financial services provider’s stock valued at $207,000 after purchasing an additional 524 shares during the period. Cibc World Markets Corp bought a new stake in shares of NMI during the 4th quarter valued at $270,000. Royce & Associates LP raised its stake in shares of NMI by 1.8% during the 4th quarter. Royce & Associates LP now owns 140,288 shares of the financial services provider’s stock valued at $5,157,000 after purchasing an additional 2,417 shares during the period. Finally, First Eagle Investment Management LLC raised its stake in shares of NMI by 5.9% during the 4th quarter. First Eagle Investment Management LLC now owns 438,919 shares of the financial services provider’s stock valued at $16,135,000 after purchasing an additional 24,300 shares during the period. 94.12% of the stock is currently owned by institutional investors.

Insider Transactions at NMI

In other news, EVP Mohammad Nawaz Yousaf sold 1,083 shares of the business’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $35.44, for a total value of $38,381.52. Following the completion of the sale, the executive vice president now owns 49,218 shares of the company’s stock, valued at approximately $1,744,285.92. The trade was a 2.15 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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 value of $717,600.00. Following the completion of the sale, the executive vice president now directly owns 37,470 shares of the company’s stock, valued at approximately $1,344,423.60. This trade represents a 34.80 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.40% of the company’s stock.

NMI Price Performance

NMIH opened at $35.29 on Friday. The stock has a 50-day moving average price of $36.45 and a 200-day moving average price of $38.11. NMI Holdings, Inc. has a 12-month low of $29.05 and a 12-month high of $42.49. The company has a current ratio of 0.60, a quick ratio of 0.83 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $2.77 billion, a P/E ratio of 7.97, a PEG ratio of 1.41 and a beta of 1.02.

NMI (NASDAQ:NMIH) last posted its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.07). NMI had a return on equity of 17.33% and a net margin of 55.32%. Equities analysts predict that NMI Holdings, Inc. will post 4.62 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently issued reports on NMIH. Keefe, Bruyette & Woods upgraded NMI from a “market perform” rating to an “outperform” rating and set a $43.00 price objective on the stock in a research note on Monday, February 24th. 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. JPMorgan Chase & Co. decreased their price objective on NMI from $46.00 to $41.00 and set an “overweight” rating on the stock in a research note on Monday, December 9th. Finally, Barclays cut NMI from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $48.00 to $41.00 in a research report on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $42.29.

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.