Virtus Fund Advisers LLC Raises Holdings in NMI Holdings, Inc. (NASDAQ:NMIH)

Virtus Fund Advisers LLC boosted its position in NMI Holdings, Inc. (NASDAQ:NMIH) by 43.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,714 shares of the financial services provider’s stock after purchasing an additional 1,129 shares during the quarter. NMI comprises approximately 0.4% of Virtus Fund Advisers LLC’s investment portfolio, making the stock its 16th largest position. Virtus Fund Advisers LLC’s holdings in NMI were worth $137,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Assetmark Inc. grew its stake in NMI by 12.6% during the 4th quarter. Assetmark Inc. now owns 88,010 shares of the financial services provider’s stock valued at $3,235,000 after acquiring an additional 9,842 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of NMI by 1.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,075,428 shares of the financial services provider’s stock valued at $39,533,000 after purchasing an additional 11,347 shares in the last quarter. Barclays PLC grew its position in shares of NMI by 264.4% in the third quarter. Barclays PLC now owns 386,999 shares of the financial services provider’s stock valued at $15,940,000 after purchasing an additional 280,809 shares in the last quarter. abrdn plc acquired a new stake in shares of NMI in the fourth quarter valued at approximately $8,122,000. Finally, KBC Group NV lifted its position in NMI by 38.3% during the fourth quarter. KBC Group NV now owns 3,221 shares of the financial services provider’s stock worth $118,000 after buying an additional 892 shares in the last quarter. Hedge funds and other institutional investors own 94.12% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on NMIH shares. StockNews.com upgraded NMI from a “hold” rating to a “buy” rating in a report on Monday, May 5th. UBS Group dropped their price objective on shares of NMI from $42.00 to $41.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th. Keefe, Bruyette & Woods reduced their target price on shares of NMI from $43.00 to $42.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 8th. Finally, JPMorgan Chase & Co. dropped their price target on shares of NMI from $42.00 to $41.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, NMI currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.17.

Insider Activity

In other NMI news, EVP Mohammad Nawaz Yousaf sold 1,083 shares of the company’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $35.44, for a total transaction of $38,381.52. Following the sale, the executive vice president now owns 49,218 shares in the company, valued at $1,744,285.92. This represents a 2.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Adam Pollitzer sold 57,166 shares of NMI stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $36.54, for a total transaction of $2,088,845.64. Following the completion of the transaction, the chief executive officer now owns 329,465 shares of the company’s stock, valued at $12,038,651.10. This represents a 14.79% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 113,235 shares of company stock valued at $4,113,998. 3.00% of the stock is currently owned by corporate insiders.

NMI Trading Up 2.0%

NASDAQ NMIH opened at $38.41 on Monday. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.60 and a quick ratio of 0.83. The stock has a market capitalization of $3.00 billion, a P/E ratio of 8.67, a PEG ratio of 1.41 and a beta of 0.56. The firm’s 50-day moving average is $35.40 and its two-hundred day moving average is $36.62. NMI Holdings, Inc. has a 12 month low of $31.59 and a 12 month high of $42.49.

NMI (NASDAQ:NMIH) last released its quarterly earnings results on Tuesday, April 29th. The financial services provider reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.18. The business had revenue of $173.25 million for the quarter, compared to the consensus estimate of $169.04 million. NMI had a net margin of 55.32% and a return on equity of 17.33%. The business’s revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.08 EPS. On average, sell-side analysts anticipate that NMI Holdings, Inc. will post 4.62 earnings per share for the current year.

About NMI

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.