Focus Partners Wealth Cuts Stake in NMI Holdings Inc $NMIH

Focus Partners Wealth reduced its stake in shares of NMI Holdings Inc (NASDAQ:NMIH) by 0.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 173,309 shares of the financial services provider’s stock after selling 1,308 shares during the quarter. Focus Partners Wealth owned about 0.22% of NMI worth $6,248,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Sound Income Strategies LLC bought a new position in shares of NMI during the 1st quarter valued at approximately $25,000. Opal Wealth Advisors LLC bought a new position in shares of NMI during the 1st quarter valued at approximately $33,000. Neo Ivy Capital Management bought a new position in shares of NMI during the 1st quarter valued at approximately $47,000. Caitong International Asset Management Co. Ltd bought a new position in shares of NMI during the 1st quarter valued at approximately $48,000. Finally, Quarry LP boosted its position in shares of NMI by 89.3% during the 1st quarter. Quarry LP now owns 1,482 shares of the financial services provider’s stock valued at $53,000 after acquiring an additional 699 shares during the last quarter. 94.12% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NMIH has been the subject of a number of research reports. Wall Street Zen downgraded NMI from a “buy” rating to a “hold” rating in a research report on Saturday, July 12th. Barclays increased their target price on NMI from $41.00 to $42.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 8th. Keefe, Bruyette & Woods downgraded NMI from an “outperform” rating to a “market perform” rating and raised their price target for the stock from $42.00 to $43.00 in a research report on Monday, July 7th. JPMorgan Chase & Co. raised their price target on NMI from $41.00 to $44.00 and gave the stock an “overweight” rating in a research report on Friday, July 11th. Finally, Compass Point restated a “buy” rating and issued a $37.00 price target (up from $34.00) on shares of NMI in a research report on Friday, May 23rd. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, NMI currently has a consensus rating of “Moderate Buy” and an average target price of $42.33.

NMI Stock Performance

Shares of NMI stock opened at $39.68 on Monday. The firm has a market cap of $3.08 billion, a P/E ratio of 8.42, a P/E/G ratio of 1.15 and a beta of 0.55. 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 Holdings Inc has a 12 month low of $31.90 and a 12 month high of $43.20. The stock’s fifty day moving average price is $38.93 and its 200-day moving average price is $37.84.

NMI (NASDAQ:NMIH) last announced its quarterly earnings results on Tuesday, July 29th. The financial services provider reported $1.22 EPS for the quarter, beating the consensus estimate of $1.16 by $0.06. The firm had revenue of $149.07 million for the quarter, compared to analyst estimates of $173.39 million. NMI had a return on equity of 16.51% and a net margin of 55.57%.The business’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.20 earnings per share. On average, equities research analysts expect 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.