New York State Teachers Retirement System Sells 4,209 Shares of NMI Holdings Inc (NASDAQ:NMIH)

New York State Teachers Retirement System lessened its position in shares of NMI Holdings Inc (NASDAQ:NMIH) by 2.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 140,347 shares of the financial services provider’s stock after selling 4,209 shares during the period. New York State Teachers Retirement System owned about 0.18% of NMI worth $5,060,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of NMI by 18.2% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,800 shares of the financial services provider’s stock worth $281,000 after buying an additional 1,200 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of NMI by 53.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 19,012 shares of the financial services provider’s stock worth $696,000 after buying an additional 6,659 shares during the last quarter. Diversified Trust Co boosted its stake in shares of NMI by 2.6% during the 1st quarter. Diversified Trust Co now owns 32,769 shares of the financial services provider’s stock worth $1,181,000 after buying an additional 829 shares during the last quarter. Moran Wealth Management LLC boosted its stake in shares of NMI by 2.3% during the 1st quarter. Moran Wealth Management LLC now owns 15,867 shares of the financial services provider’s stock worth $572,000 after buying an additional 350 shares during the last quarter. Finally, Illumine Investment Management LLC boosted its stake in shares of NMI by 10.2% during the 1st quarter. Illumine Investment Management LLC now owns 14,362 shares of the financial services provider’s stock worth $518,000 after buying an additional 1,327 shares during the last quarter. Institutional investors own 94.12% of the company’s stock.

Insider Activity

In other NMI news, insider William J. Leatherberry sold 13,111 shares of the firm’s stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $35.56, for a total transaction of $466,227.16. Following the completion of the sale, the insider directly owned 163,796 shares in the company, valued at $5,824,585.76. This trade represents a 7.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Robert Owen Smith sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $36.58, for a total transaction of $731,600.00. Following the transaction, the executive vice president directly owned 84,566 shares in the company, valued at $3,093,424.28. This represents a 19.13% 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. Company insiders own 3.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on NMIH shares. Keefe, Bruyette & Woods reduced 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. Wall Street Zen upgraded shares of NMI from a “hold” rating to a “buy” rating in a research note on Monday, May 5th. Compass Point restated a “buy” rating and set a $37.00 price objective (up from $34.00) on shares of NMI in a research note on Friday, May 23rd. Finally, 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. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, NMI presently has an average rating of “Moderate Buy” and an average price target of $42.29.

NMI Trading Up 1.4%

Shares of NASDAQ:NMIH opened at $43.14 on Monday. NMI Holdings Inc has a 52-week low of $31.90 and a 52-week high of $43.20. The company has a market capitalization of $3.37 billion, a P/E ratio of 9.32, a price-to-earnings-growth ratio of 1.46 and a beta of 0.55. The company has a 50-day simple moving average of $39.32 and a 200 day simple moving average of $37.08. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.74 and a current ratio of 0.74.

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, beating the consensus estimate of $1.10 by $0.18. The business had revenue of $173.25 million during the quarter, compared to the consensus estimate of $169.04 million. NMI had a net margin of 55.93% and a return on equity of 17.27%. NMI’s revenue was up 10.8% on a year-over-year basis. During the same period last year, the business posted $1.08 EPS. Sell-side 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.