Cetera Investment Advisers Raises Stake in NMI Holdings Inc $NMIH

Cetera Investment Advisers raised its stake in NMI Holdings Inc (NASDAQ:NMIH) by 5.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,347 shares of the financial services provider’s stock after buying an additional 341 shares during the quarter. Cetera Investment Advisers’ holdings in NMI were worth $229,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in NMIH. Wells Fargo & Company MN grew its holdings in NMI by 2.1% in 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 buying an additional 1,033 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in NMI by 21.0% in the 4th quarter. Envestnet Asset Management Inc. now owns 38,943 shares of the financial services provider’s stock valued at $1,432,000 after buying an additional 6,759 shares in the last quarter. MetLife Investment Management LLC grew its holdings in NMI by 5.5% in the 4th quarter. MetLife Investment Management LLC now owns 47,021 shares of the financial services provider’s stock valued at $1,728,000 after buying an additional 2,464 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in NMI by 58.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 8,412 shares of the financial services provider’s stock valued at $309,000 after buying an additional 3,097 shares in the last quarter. Finally, State of Tennessee Department of Treasury grew its holdings in NMI by 15.5% in the 4th quarter. State of Tennessee Department of Treasury now owns 63,732 shares of the financial services provider’s stock valued at $2,343,000 after buying an additional 8,541 shares in the last quarter. 94.12% of the stock is currently owned by hedge funds and other institutional investors.

NMI Price Performance

NMIH opened at $39.23 on Friday. The stock’s 50-day moving average price is $39.56 and its 200 day moving average price is $37.43. NMI Holdings Inc has a 12-month low of $31.90 and a 12-month 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 0.17. The firm has a market cap of $3.04 billion, a price-to-earnings ratio of 8.33, a PEG ratio of 1.14 and a beta of 0.57.

NMI (NASDAQ:NMIH) last posted its earnings results on Tuesday, July 29th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.06. NMI had a return on equity of 16.51% and a net margin of 55.57%.The firm had revenue of $149.07 million for the quarter, compared to analyst estimates of $173.39 million. During the same quarter in the prior year, the company earned $1.20 EPS. NMI’s revenue was up 7.2% on a year-over-year basis. As a group, sell-side analysts expect that NMI Holdings Inc will post 4.62 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Keefe, Bruyette & Woods cut 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 report on Monday, July 7th. Wall Street Zen cut NMI from a “buy” rating to a “hold” rating in a report on Saturday, July 12th. Compass Point reiterated a “buy” rating and set a $37.00 price target (up from $34.00) on shares of NMI in a report on Friday, May 23rd. JPMorgan Chase & Co. increased 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. Finally, Barclays increased their price target on NMI from $41.00 to $42.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 8th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $42.33.

Insider Transactions at NMI

In other NMI news, Chairman Bradley M. Shuster sold 21,545 shares of the stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $39.56, for a total value of $852,320.20. Following the sale, the chairman owned 409,792 shares of the company’s stock, valued at $16,211,371.52. This trade represents a 4.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 3.00% of the company’s stock.

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.