Wealth Enhancement Advisory Services LLC Boosts Position in NMI Holdings, Inc. (NASDAQ:NMIH)

Wealth Enhancement Advisory Services LLC boosted its holdings in NMI Holdings, Inc. (NASDAQ:NMIH) by 5.7% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 6,051 shares of the financial services provider’s stock after buying an additional 325 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in NMI were worth $222,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of NMIH. Assetmark Inc. grew its position in NMI by 12.6% in the fourth quarter. Assetmark Inc. now owns 88,010 shares of the financial services provider’s stock valued at $3,235,000 after acquiring an additional 9,842 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in NMI by 1.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,075,428 shares of the financial services provider’s stock valued at $39,533,000 after acquiring an additional 11,347 shares in the last quarter. Bank of America Corp DE grew its position in NMI by 3.0% in the fourth quarter. Bank of America Corp DE now owns 527,652 shares of the financial services provider’s stock valued at $19,396,000 after acquiring an additional 15,273 shares in the last quarter. BNP Paribas Financial Markets grew its position in NMI by 13.3% in the fourth quarter. BNP Paribas Financial Markets now owns 127,132 shares of the financial services provider’s stock valued at $4,673,000 after acquiring an additional 14,908 shares in the last quarter. Finally, New York State Common Retirement Fund grew its position in NMI by 196.3% in the fourth quarter. New York State Common Retirement Fund now owns 75,013 shares of the financial services provider’s stock valued at $2,757,000 after acquiring an additional 49,700 shares in the last quarter. Hedge funds and other institutional investors own 94.12% of the company’s stock.

NMI Stock Performance

Shares of NMIH opened at $40.69 on Tuesday. The business’s fifty day moving average price is $37.07 and its 200 day moving average price is $36.75. NMI Holdings, Inc. has a 12-month low of $31.67 and a 12-month high of $42.49. The stock has a market capitalization of $3.18 billion, a PE ratio of 9.19, a price-to-earnings-growth ratio of 1.41 and a beta of 0.55. 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 announced its quarterly earnings data 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 return on equity of 17.33% and a net margin of 55.32%. The firm had revenue of $173.25 million for the quarter, compared to analysts’ expectations of $169.04 million. During the same period last year, the business posted $1.08 earnings per share. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. Equities research analysts forecast that NMI Holdings, Inc. will post 4.62 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on NMIH. Keefe, Bruyette & Woods lowered their price objective 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. Wall Street Zen raised shares of NMI from a “hold” rating to a “buy” rating in a research report on Monday, May 5th. Compass Point reissued a “buy” rating and set a $37.00 price target (up previously from $34.00) on shares of NMI in a research report on Friday, May 23rd. JPMorgan Chase & Co. decreased their price target on shares of NMI from $42.00 to $41.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Finally, UBS Group decreased their price target on shares of NMI from $42.00 to $41.00 and set a “neutral” rating for the company in a research report on Wednesday, February 19th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $42.29.

Insider Buying and Selling

In other NMI news, insider William J. Leatherberry sold 13,111 shares of the firm’s stock in a transaction 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 sale, the insider now directly owns 163,796 shares in the company, valued at approximately $5,824,585.76. This trade represents a 7.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Adam Pollitzer sold 57,166 shares of the firm’s stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $36.54, for a total value of $2,088,845.64. Following the completion of the sale, the chief executive officer now owns 329,465 shares in the company, valued at $12,038,651.10. The trade was a 14.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 113,697 shares of company stock worth $4,210,337 over the last ninety days. 3.00% of the stock is owned by insiders.

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.