Arizona State Retirement System Grows Stock Holdings in NMI Holdings, Inc. (NASDAQ:NMIH)

Arizona State Retirement System boosted its holdings in NMI Holdings, Inc. (NASDAQ:NMIH – Get Rating) by 2.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,706 shares of the financial services provider’s stock after buying an additional 484 shares during the period. Arizona State Retirement System’s holdings in NMI were worth $475,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. River Road Asset Management LLC purchased a new position in shares of NMI during the 3rd quarter valued at $24,945,000. State Street Corp grew its position in shares of NMI by 15.8% during the 1st quarter. State Street Corp now owns 4,053,585 shares of the financial services provider’s stock valued at $83,585,000 after purchasing an additional 551,924 shares in the last quarter. Epoch Investment Partners Inc. grew its position in shares of NMI by 81.5% during the 3rd quarter. Epoch Investment Partners Inc. now owns 1,169,791 shares of the financial services provider’s stock valued at $23,829,000 after purchasing an additional 525,175 shares in the last quarter. TD Asset Management Inc. grew its position in shares of NMI by 81.5% during the 3rd quarter. TD Asset Management Inc. now owns 1,169,791 shares of the financial services provider’s stock valued at $23,887,000 after purchasing an additional 525,175 shares in the last quarter. Finally, Victory Capital Management Inc. grew its position in shares of NMI by 385.8% during the 3rd quarter. Victory Capital Management Inc. now owns 523,892 shares of the financial services provider’s stock valued at $10,672,000 after purchasing an additional 416,053 shares in the last quarter. 97.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Michael Curry Montgomery sold 2,776 shares of the company’s stock in a transaction dated Friday, May 12th. The shares were sold at an average price of $23.72, for a total transaction of $65,846.72. Following the completion of the transaction, the director now directly owns 61,678 shares of the company’s stock, valued at $1,463,002.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.70% of the company’s stock.

NMI Stock Performance

NMI stock opened at $25.11 on Friday. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $2.09 billion, a PE ratio of 7.17 and a beta of 1.26. The firm has a fifty day simple moving average of $22.72 and a two-hundred day simple moving average of $22.11. NMI Holdings, Inc. has a twelve month low of $15.33 and a twelve month high of $25.90.

NMI (NASDAQ:NMIH – Get Rating) last issued its quarterly earnings data on Tuesday, May 2nd. The financial services provider reported $0.88 EPS for the quarter, beating the consensus estimate of $0.86 by $0.02. The firm had revenue of $133.10 million during the quarter, compared to the consensus estimate of $134.93 million. NMI had a net margin of 56.26% and a return on equity of 18.75%. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.77 earnings per share. Research analysts expect that NMI Holdings, Inc. will post 3.58 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. cut their target price on shares of NMI from $26.00 to $25.00 and set an “overweight” rating for the company in a research report on Monday, April 17th. StockNews.com assumed coverage on shares of NMI in a research report on Thursday. They issued a “buy” rating for the company. Finally, Citigroup upped their target price on shares of NMI from $26.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, February 15th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $25.38.

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.