NMI Holdings Inc (NASDAQ:NMIH) Shares Acquired by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lifted its stake in NMI Holdings Inc (NASDAQ:NMIH) by 18.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,800 shares of the financial services provider’s stock after acquiring an additional 1,200 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in NMI were worth $281,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new stake in shares of NMI in the 1st quarter worth approximately $530,000. GAMMA Investing LLC boosted its stake in shares of NMI by 7,260.6% during the 1st quarter. GAMMA Investing LLC now owns 56,382 shares of the financial services provider’s stock worth $2,033,000 after acquiring an additional 55,616 shares in the last quarter. Assetmark Inc. grew its holdings in shares of NMI by 12.6% in the 4th quarter. Assetmark Inc. now owns 88,010 shares of the financial services provider’s stock worth $3,235,000 after acquiring an additional 9,842 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of NMI by 1.1% in 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 acquiring an additional 11,347 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in shares of NMI by 5.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,051 shares of the financial services provider’s stock valued at $222,000 after purchasing an additional 325 shares during the last quarter. 94.12% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Michael Curry Montgomery sold 1,875 shares of NMI stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $38.05, for a total value of $71,343.75. Following the completion of the sale, the director owned 66,068 shares of the company’s stock, valued at approximately $2,513,887.40. The trade was a 2.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Bradley M. Shuster sold 21,545 shares of the stock in a transaction on Friday, June 6th. The stock was sold at an average price of $39.56, for a total transaction of $852,320.20. Following the transaction, the chairman directly owned 409,792 shares in the company, valued at $16,211,371.52. The trade was a 4.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 113,697 shares of company stock valued at $4,210,337. 3.00% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have issued reports on NMIH. Wall Street Zen upgraded NMI from a “hold” rating to a “buy” rating in a report on Monday, May 5th. JPMorgan Chase & Co. reduced 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. Keefe, Bruyette & Woods cut their target price on shares of NMI from $43.00 to $42.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 8th. Finally, Compass Point reaffirmed a “buy” rating and issued a $37.00 target price (up previously from $34.00) on shares of NMI in a research report on Friday, May 23rd. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $42.29.

NMI Price Performance

Shares of NASDAQ:NMIH opened at $43.14 on Friday. The firm has a market cap of $3.37 billion, a price-to-earnings ratio of 9.32, a P/E/G ratio of 1.46 and a beta of 0.55. NMI Holdings Inc has a 1 year low of $31.90 and a 1 year high of $43.20. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.18. The business has a fifty day simple moving average of $39.32 and a 200 day simple moving average of $37.08.

NMI (NASDAQ:NMIH) last announced its quarterly earnings results on Tuesday, April 29th. The financial services provider reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.18. NMI had a return on equity of 17.27% and a net margin of 55.93%. The business had revenue of $173.25 million during the quarter, compared to analyst estimates of $169.04 million. During the same period in the previous year, the company earned $1.08 EPS. The firm’s revenue was up 10.8% on a year-over-year basis. As a group, sell-side analysts predict that NMI Holdings Inc will post 4.62 earnings per share for the current fiscal year.

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.