Acadian Asset Management LLC Invests $1.22 Million in NMI Holdings Inc $NMIH

Acadian Asset Management LLC acquired a new position in shares of NMI Holdings Inc (NASDAQ:NMIH) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 34,018 shares of the financial services provider’s stock, valued at approximately $1,224,000.

Other institutional investors have also added to or reduced their stakes in the company. Xponance Inc. lifted its position in NMI by 5.0% during the first quarter. Xponance Inc. now owns 5,917 shares of the financial services provider’s stock worth $213,000 after purchasing an additional 281 shares during the period. Covestor Ltd lifted its position in shares of NMI by 15.7% during the 1st quarter. Covestor Ltd now owns 2,190 shares of the financial services provider’s stock worth $79,000 after buying an additional 297 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of NMI by 5.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,051 shares of the financial services provider’s stock worth $222,000 after buying an additional 325 shares during the last quarter. Cetera Investment Advisers lifted its position in shares of NMI by 5.7% during the 1st quarter. Cetera Investment Advisers now owns 6,347 shares of the financial services provider’s stock worth $229,000 after buying an additional 341 shares during the last quarter. Finally, Hohimer Wealth Management LLC lifted its position in shares of NMI by 5.6% during the 1st quarter. Hohimer Wealth Management LLC now owns 6,493 shares of the financial services provider’s stock worth $234,000 after buying an additional 344 shares during the last quarter. 94.12% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Steven Scheid sold 19,926 shares of the firm’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $39.31, for a total transaction of $783,291.06. Following the completion of the transaction, the director directly owned 78,960 shares in the company, valued at $3,103,917.60. This trade represents a 20.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. 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 issued a $37.00 price objective (up previously from $34.00) on shares of NMI in a research note on Friday, May 23rd. Barclays increased their price objective on shares of NMI from $41.00 to $42.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 8th. JPMorgan Chase & Co. increased their price target on NMI from $41.00 to $44.00 and gave the company an “overweight” rating in a research note on Friday, July 11th. Finally, Keefe, Bruyette & Woods cut NMI from an “outperform” rating to a “market perform” rating and increased their price target for the company from $42.00 to $43.00 in a research note on Monday, July 7th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.33.

NMI Price Performance

NMIH stock opened at $38.63 on Thursday. The company has a fifty day moving average price of $38.81 and a 200-day moving average price of $37.86. The company has a market capitalization of $3.00 billion, a P/E ratio of 8.20, a PEG ratio of 1.11 and a beta of 0.55. NMI Holdings Inc has a 52-week low of $31.90 and a 52-week high of $43.20. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.74 and a current ratio of 0.74.

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