NMI Holdings, Inc. (NASDAQ:NMIH) Stake Boosted by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. increased its position in NMI Holdings, Inc. (NASDAQ:NMIH) by 21.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 38,943 shares of the financial services provider’s stock after buying an additional 6,759 shares during the period. Envestnet Asset Management Inc.’s holdings in NMI were worth $1,432,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank bought a new stake in NMI during the fourth quarter valued at about $13,174,000. Raymond James Financial Inc. acquired a new position in shares of NMI in the 4th quarter worth approximately $13,136,000. Donald Smith & CO. Inc. grew its holdings in NMI by 34.8% during the 4th quarter. Donald Smith & CO. Inc. now owns 1,307,868 shares of the financial services provider’s stock worth $48,077,000 after acquiring an additional 337,996 shares during the last quarter. Barclays PLC raised its position in NMI by 264.4% in the 3rd quarter. Barclays PLC now owns 386,999 shares of the financial services provider’s stock worth $15,940,000 after purchasing an additional 280,809 shares during the last quarter. Finally, abrdn plc acquired a new position in shares of NMI during the fourth quarter valued at $8,122,000. Institutional investors and hedge funds own 94.12% of the company’s stock.

NMI Stock Performance

Shares of NASDAQ NMIH opened at $33.64 on Wednesday. The stock’s fifty day moving average price is $34.86 and its two-hundred day moving average price is $36.83. The firm has a market cap of $2.63 billion, a price-to-earnings ratio of 7.59, a P/E/G ratio of 1.41 and a beta of 0.62. NMI Holdings, Inc. has a one year low of $30.35 and a one year high of $42.49. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.60 and a quick ratio of 0.83.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on NMIH shares. Barclays cut shares of NMI from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $48.00 to $41.00 in a research note on Monday, January 6th. UBS Group dropped their target price on shares of NMI from $42.00 to $41.00 and set a “neutral” rating on the stock in a report on Wednesday, February 19th. JPMorgan Chase & Co. reduced their price objective on NMI from $42.00 to $41.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Finally, Keefe, Bruyette & Woods decreased their target price on shares of NMI from $43.00 to $42.00 and set an “outperform” rating for the company in a research report on Tuesday, April 8th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $42.14.

Insider Activity at NMI

In other news, EVP Norman Peter Fitzgerald sold 20,000 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $35.88, for a total value of $717,600.00. Following the completion of the sale, the executive vice president now directly owns 37,470 shares of the company’s stock, valued at $1,344,423.60. This represents a 34.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Mohammad Nawaz Yousaf sold 1,083 shares of the business’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 transaction, the executive vice president now owns 49,218 shares in the company, valued at approximately $1,744,285.92. This trade represents a 2.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by insiders.

NMI Company Profile

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.