Janney Montgomery Scott LLC Sells 1,426 Shares of NMI Holdings, Inc. (NASDAQ:NMIH)

Janney Montgomery Scott LLC cut its stake in NMI Holdings, Inc. (NASDAQ:NMIH) by 8.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,815 shares of the financial services provider’s stock after selling 1,426 shares during the period. Janney Montgomery Scott LLC’s holdings in NMI were worth $383,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of NMIH. Advisor Group Holdings Inc. increased its position in shares of NMI by 20.2% during the 4th quarter. Advisor Group Holdings Inc. now owns 3,665 shares of the financial services provider’s stock worth $77,000 after purchasing an additional 617 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in shares of NMI by 45.2% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 2,013 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 627 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of NMI by 15.6% during the 1st 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 in the last quarter. Lazard Asset Management LLC increased its position in shares of NMI by 18.1% during the 4th quarter. Lazard Asset Management LLC now owns 5,092 shares of the financial services provider’s stock worth $106,000 after purchasing an additional 780 shares in the last quarter. Finally, Centaurus Financial Inc. increased its position in shares of NMI by 9.1% during the 1st quarter. Centaurus Financial Inc. now owns 9,911 shares of the financial services provider’s stock worth $204,000 after purchasing an additional 825 shares in the last quarter. 94.12% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director James G. Jones sold 3,952 shares of NMI stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $29.11, for a total transaction of $115,042.72. Following the transaction, the director now owns 118,528 shares of the company’s stock, valued at approximately $3,450,350.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.70% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Citigroup increased their target price on shares of NMI from $28.00 to $33.00 and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. StockNews.com initiated coverage on shares of NMI in a report on Thursday, October 5th. They set a “buy” rating on the stock. Compass Point increased their price objective on shares of NMI from $30.00 to $31.00 in a report on Wednesday, August 2nd. Truist Financial increased their price objective on shares of NMI from $30.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, August 2nd. Finally, Bank of America initiated coverage on shares of NMI in a report on Tuesday, October 17th. They set a “buy” rating and a $33.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.29.

NMI Stock Up 1.6 %

Shares of NASDAQ NMIH opened at $27.35 on Wednesday. The firm has a market capitalization of $2.25 billion, a PE ratio of 7.62, a price-to-earnings-growth ratio of 0.67 and a beta of 1.18. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.23. NMI Holdings, Inc. has a 1 year low of $19.02 and a 1 year high of $30.14. The firm’s 50-day moving average is $27.74 and its 200-day moving average is $26.45.

NMI (NASDAQ:NMIH) last issued its earnings results on Tuesday, August 1st. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.08. NMI had a net margin of 56.07% and a return on equity of 18.47%. The company had revenue of $142.70 million for the quarter, compared to analyst estimates of $123.95 million. During the same quarter last year, the firm earned $0.86 EPS. The company’s revenue for the quarter was up 7.9% on a year-over-year basis. Equities analysts expect that NMI Holdings, Inc. will post 3.7 EPS 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.