Principal Financial Group Inc. Trims Stock Position in NMI Holdings, Inc. (NASDAQ:NMIH)

Principal Financial Group Inc. cut its holdings in shares of NMI Holdings, Inc. (NASDAQ:NMIH) by 9.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 485,180 shares of the financial services provider’s stock after selling 51,359 shares during the quarter. Principal Financial Group Inc. owned about 0.59% of NMI worth $12,527,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in NMIH. Point72 Hong Kong Ltd acquired a new stake in NMI during the first quarter worth about $33,000. Public Employees Retirement System of Ohio increased its stake in NMI by 45.2% during the third quarter. Public Employees Retirement System of Ohio now owns 2,013 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 627 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in NMI by 160.1% during the first quarter. Tower Research Capital LLC TRC now owns 2,034 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 1,252 shares during the last quarter. Bessemer Group Inc. acquired a new stake in NMI during the first quarter worth about $46,000. Finally, Dark Forest Capital Management LP acquired a new stake in NMI during the first quarter worth about $59,000. 94.12% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Robert Owen Smith sold 8,500 shares of the business’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $28.67, for a total value of $243,695.00. Following the completion of the sale, the executive vice president now directly owns 66,346 shares in the company, valued at approximately $1,902,139.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.70% of the company’s stock.

NMI Price Performance

Shares of NASDAQ NMIH opened at $27.70 on Friday. NMI Holdings, Inc. has a fifty-two week low of $19.02 and a fifty-two week high of $30.14. The business has a 50 day moving average price of $27.69 and a two-hundred day moving average price of $26.88. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.22. The firm has a market cap of $2.25 billion, a PE ratio of 7.51, a price-to-earnings-growth ratio of 0.69 and a beta of 1.18.

NMI (NASDAQ:NMIH) last issued its quarterly earnings data on Wednesday, November 1st. The financial services provider reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.06. NMI had a return on equity of 18.17% and a net margin of 55.58%. The firm had revenue of $148.16 million during the quarter, compared to analyst estimates of $128.18 million. During the same quarter last year, the firm earned $0.90 EPS. NMI’s quarterly revenue was up 13.5% on a year-over-year basis. Sell-side analysts expect that NMI Holdings, Inc. will post 3.75 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Bank of America assumed coverage on NMI in a research note on Tuesday, October 17th. They set a “buy” rating and a $33.00 price target for the company. StockNews.com upgraded NMI from a “hold” rating to a “buy” rating in a research note on Friday, November 10th. Truist Financial increased their target price on NMI from $30.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, August 2nd. Citigroup increased their target price on NMI from $28.00 to $33.00 and gave the company a “buy” rating in a research note on Wednesday, August 2nd. Finally, Compass Point increased their target price on NMI from $30.00 to $31.00 in a research note on Wednesday, August 2nd. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $32.14.

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.