Bank of New York Mellon Corp Sells 19,749 Shares of NMI Holdings Inc (NASDAQ:NMIH)

Bank of New York Mellon Corp lowered its stake in shares of NMI Holdings Inc (NASDAQ:NMIH) by 3.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 557,054 shares of the financial services provider’s stock after selling 19,749 shares during the quarter. Bank of New York Mellon Corp owned about 0.71% of NMI worth $20,082,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in NMIH. Sound Income Strategies LLC purchased a new stake in NMI during the first quarter valued at approximately $25,000. Opal Wealth Advisors LLC acquired a new position in shares of NMI during the first quarter worth $33,000. GAMMA Investing LLC lifted its holdings in shares of NMI by 104.2% during the 1st quarter. GAMMA Investing LLC now owns 1,564 shares of the financial services provider’s stock valued at $56,000 after purchasing an additional 798 shares during the last quarter. Covestor Ltd boosted its position in shares of NMI by 601.1% in the 4th quarter. Covestor Ltd now owns 1,893 shares of the financial services provider’s stock worth $70,000 after purchasing an additional 1,623 shares in the last quarter. Finally, Sterling Capital Management LLC grew its stake in NMI by 786.1% during the 4th quarter. Sterling Capital Management LLC now owns 2,295 shares of the financial services provider’s stock worth $84,000 after buying an additional 2,036 shares during the last quarter. Institutional investors own 94.12% of the company’s stock.

NMI Stock Up 0.4%

NASDAQ:NMIH opened at $38.01 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.74 and a quick ratio of 0.74. The company’s fifty day moving average price is $39.73 and its 200-day moving average price is $37.21. NMI Holdings Inc has a 1-year low of $31.90 and a 1-year high of $43.20. The firm has a market capitalization of $2.97 billion, a P/E ratio of 8.21, a PEG ratio of 1.16 and a beta of 0.55.

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

Insider Activity at NMI

In other NMI news, EVP Robert Owen Smith sold 20,000 shares of the company’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 value of $731,600.00. Following the sale, the executive vice president owned 84,566 shares in the company, valued at approximately $3,093,424.28. This represents a 19.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Michael Curry Montgomery sold 1,875 shares of NMI stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $38.05, for a total transaction of $71,343.75. Following the transaction, the director directly owned 66,068 shares of the company’s stock, valued at approximately $2,513,887.40. This trade represents a 2.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 113,697 shares of company stock valued at $4,210,337 in the last 90 days. 3.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

NMIH has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their price target on NMI from $41.00 to $44.00 and gave the stock an “overweight” rating in a report on Friday, July 11th. Barclays boosted their target price on shares of NMI from $41.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 8th. Wall Street Zen cut shares of NMI from a “buy” rating to a “hold” rating in a report on Saturday, July 12th. Compass Point reissued a “buy” rating and set a $37.00 price objective (up from $34.00) on shares of NMI in a report on Friday, May 23rd. Finally, Keefe, Bruyette & Woods downgraded NMI from an “outperform” rating to a “market perform” rating and upped their target price for the company from $42.00 to $43.00 in a research report on Monday, July 7th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $43.00.

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.