NMI Holdings, Inc. (NASDAQ:NMIH) Shares Acquired by Bank of America Corp DE

Bank of America Corp DE lifted its position in shares of NMI Holdings, Inc. (NASDAQ:NMIH) by 3.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 527,652 shares of the financial services provider’s stock after buying an additional 15,273 shares during the quarter. Bank of America Corp DE owned approximately 0.67% of NMI worth $19,396,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Assetmark Inc. raised its stake in shares of NMI by 12.6% during the 4th quarter. Assetmark Inc. now owns 88,010 shares of the financial services provider’s stock worth $3,235,000 after buying an additional 9,842 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of NMI by 1.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,075,428 shares of the financial services provider’s stock worth $39,533,000 after buying an additional 11,347 shares during the last quarter. Barclays PLC raised its stake in shares of NMI by 264.4% during the 3rd quarter. Barclays PLC now owns 386,999 shares of the financial services provider’s stock worth $15,940,000 after buying an additional 280,809 shares during the last quarter. abrdn plc acquired a new position in NMI in the 4th quarter valued at about $8,122,000. Finally, BNP Paribas Financial Markets raised its stake in NMI by 13.3% in the 4th quarter. BNP Paribas Financial Markets now owns 127,132 shares of the financial services provider’s stock valued at $4,673,000 after purchasing an additional 14,908 shares during the last quarter. Institutional investors and hedge funds own 94.12% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on NMIH. JPMorgan Chase & Co. cut their target price on shares of NMI from $42.00 to $41.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. UBS Group dropped their price objective on shares of NMI from $42.00 to $41.00 and set a “neutral” rating for the company in a research note on Wednesday, February 19th. Keefe, Bruyette & Woods dropped their price objective on shares of NMI from $43.00 to $42.00 and set an “outperform” rating for the company in a research note on Tuesday, April 8th. Finally, StockNews.com raised shares of NMI from a “hold” rating to a “buy” rating in a research note on Monday, May 5th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.17.

Insider Transactions at NMI

In other NMI news, insider William J. Leatherberry sold 13,111 shares of the company’s stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $35.56, for a total value of $466,227.16. Following the completion of the transaction, the insider now owns 163,796 shares in the company, valued at $5,824,585.76. This represents a 7.41% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Norman Peter Fitzgerald sold 20,000 shares of the company’s 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 transaction, the executive vice president now owns 37,470 shares of the company’s stock, valued at approximately $1,344,423.60. This represents a 34.80% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 113,235 shares of company stock worth $4,113,998. 3.00% of the stock is currently owned by company insiders.

NMI Stock Down 0.5%

Shares of NASDAQ:NMIH opened at $38.22 on Tuesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.83 and a current ratio of 0.60. NMI Holdings, Inc. has a 1 year low of $31.59 and a 1 year high of $42.49. The stock has a market capitalization of $2.99 billion, a P/E ratio of 8.63, a PEG ratio of 1.41 and a beta of 0.56. The stock has a 50-day simple moving average of $35.48 and a 200-day simple moving average of $36.63.

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