LPL Financial LLC Grows Stake in NMI Holdings Inc $NMIH

LPL Financial LLC grew its position in shares of NMI Holdings Inc (NASDAQ:NMIH) by 4.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,321 shares of the financial services provider’s stock after purchasing an additional 2,359 shares during the period. LPL Financial LLC owned approximately 0.07% of NMI worth $1,886,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in NMIH. Wells Fargo & Company MN grew its position in shares of NMI by 2.1% during the 4th quarter. Wells Fargo & Company MN now owns 50,662 shares of the financial services provider’s stock valued at $1,862,000 after purchasing an additional 1,033 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of NMI by 21.0% during the 4th quarter. Envestnet Asset Management Inc. now owns 38,943 shares of the financial services provider’s stock worth $1,432,000 after acquiring an additional 6,759 shares during the last quarter. Bank of Montreal Can lifted its holdings in shares of NMI by 7.9% during the 4th quarter. Bank of Montreal Can now owns 12,011 shares of the financial services provider’s stock worth $442,000 after acquiring an additional 882 shares during the last quarter. Sterling Capital Management LLC lifted its holdings in shares of 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 acquiring an additional 2,036 shares during the last quarter. Finally, MetLife Investment Management LLC lifted its holdings in shares of NMI by 5.5% during the 4th quarter. MetLife Investment Management LLC now owns 47,021 shares of the financial services provider’s stock worth $1,728,000 after acquiring an additional 2,464 shares during the last quarter. 94.12% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other NMI news, Chairman Bradley M. Shuster sold 21,545 shares of the business’s stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $39.56, for a total value of $852,320.20. Following the transaction, the chairman owned 409,792 shares in the company, valued at approximately $16,211,371.52. The trade was a 4.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.00% of the company’s stock.

NMI Price Performance

NMIH stock opened at $39.30 on Thursday. The firm’s 50-day moving average price is $39.59 and its two-hundred day moving average price is $37.42. NMI Holdings Inc has a 12-month low of $31.90 and a 12-month high of $43.20. The stock has a market capitalization of $3.05 billion, a price-to-earnings ratio of 8.34, a PEG ratio of 1.13 and a beta of 0.57. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.17.

NMI (NASDAQ:NMIH) last released its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.06. NMI had a net margin of 55.57% and a return on equity of 16.51%. The firm had revenue of $149.07 million for the quarter, compared to analysts’ expectations of $173.39 million. During the same quarter in the previous year, the company earned $1.20 earnings per share. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. As a group, equities analysts predict that NMI Holdings Inc will post 4.62 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Compass Point reaffirmed 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. Wall Street Zen downgraded shares of NMI from a “buy” rating to a “hold” rating in a report on Saturday, July 12th. Barclays lifted their price objective on shares of NMI from $41.00 to $42.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 8th. JPMorgan Chase & Co. lifted their price objective on shares of NMI from $41.00 to $44.00 and gave the stock an “overweight” rating in a report on Friday, July 11th. Finally, Keefe, Bruyette & Woods downgraded shares of NMI from an “outperform” rating to a “market perform” rating and lifted their price objective for the stock from $42.00 to $43.00 in a report on Monday, July 7th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $42.33.

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.