Nuveen Asset Management LLC Cuts Stock Position in NMI Holdings, Inc. (NASDAQ:NMIH)

Nuveen Asset Management LLC lessened its stake in shares of NMI Holdings, Inc. (NASDAQ:NMIH – Get Rating) by 6.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 858,802 shares of the financial services provider’s stock after selling 56,671 shares during the quarter. Nuveen Asset Management LLC owned about 1.03% of NMI worth $17,494,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. PNC Financial Services Group Inc. raised its stake in shares of NMI by 15.6% during the first quarter. PNC Financial Services Group Inc. now owns 5,738 shares of the financial services provider’s stock worth $118,000 after purchasing an additional 774 shares during the last quarter. Centaurus Financial Inc. raised its position in NMI by 9.1% in the first quarter. Centaurus Financial Inc. now owns 9,911 shares of the financial services provider’s stock worth $204,000 after acquiring an additional 825 shares in the last quarter. Federated Hermes Inc. raised its position in NMI by 36.9% in the first quarter. Federated Hermes Inc. now owns 3,112 shares of the financial services provider’s stock worth $64,000 after acquiring an additional 838 shares in the last quarter. Renaissance Group LLC raised its position in NMI by 1.7% in the third quarter. Renaissance Group LLC now owns 54,781 shares of the financial services provider’s stock worth $1,116,000 after acquiring an additional 910 shares in the last quarter. Finally, Muhlenkamp & Co. Inc. raised its position in NMI by 0.4% in the third quarter. Muhlenkamp & Co. Inc. now owns 293,580 shares of the financial services provider’s stock worth $5,980,000 after acquiring an additional 1,052 shares in the last quarter. Hedge funds and other institutional investors own 97.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. JPMorgan Chase & Co. cut their price objective on NMI from $27.00 to $26.00 in a research report on Tuesday, January 10th. BTIG Research cut NMI from a “buy” rating to a “neutral” rating and set a $24.00 price objective for the company. in a research report on Tuesday, December 6th. Barclays cut NMI from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $31.00 to $25.00 in a research report on Friday, January 6th. Finally, Citigroup raised their price target on NMI from $26.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, February 15th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $25.50.

Insider Buying and Selling

In related news, EVP Mohammad Nawaz Yousaf sold 9,000 shares of NMI stock in a transaction dated Friday, February 17th. The stock was sold at an average price of $24.16, for a total transaction of $217,440.00. Following the completion of the sale, the executive vice president now owns 41,724 shares in the company, valued at approximately $1,008,051.84. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 2.50% of the stock is currently owned by company insiders.

NMI Trading Up 2.2 %

Shares of NMIH stock opened at $24.24 on Friday. NMI Holdings, Inc. has a fifty-two week low of $15.33 and a fifty-two week high of $24.52. The stock has a market cap of $2.03 billion, a P/E ratio of 7.15 and a beta of 1.31. The business has a fifty day simple moving average of $22.39 and a 200-day simple moving average of $21.44. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 0.25.

NMI (NASDAQ:NMIH – Get Rating) last posted its quarterly earnings data on Tuesday, February 14th. The financial services provider reported $0.86 EPS for the quarter, hitting analysts’ consensus estimates of $0.86. The firm had revenue of $133.10 million during the quarter, compared to analysts’ expectations of $132.64 million. NMI had a return on equity of 18.81% and a net margin of 55.97%. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.73 EPS. On average, analysts forecast that NMI Holdings, Inc. will post 3.62 earnings per share for the current fiscal year.

NMI Profile

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NMI Holdings, Inc engages in the provision of private mortgage guaranty insurance. It focuses on long-term customer relationships, disciplined and proactive risk selection and pricing, fair and transparent claims payment practices, responsive customer service, financial strength, and profitability. The company was founded on May 19, 2011 and is headquartered in Emeryville, CA.