NMI Holdings Inc $NMIH Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC decreased its position in NMI Holdings Inc (NASDAQ:NMIH) by 5.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,977 shares of the financial services provider’s stock after selling 1,035 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in NMI were worth $771,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. CWM LLC raised its position in shares of NMI by 52.3% during the second quarter. CWM LLC now owns 17,010 shares of the financial services provider’s stock worth $718,000 after purchasing an additional 5,843 shares during the period. Vanguard Personalized Indexing Management LLC raised its position in shares of NMI by 28.4% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 8,287 shares of the financial services provider’s stock worth $350,000 after purchasing an additional 1,833 shares during the period. Muhlenkamp & Co. Inc. raised its position in shares of NMI by 0.6% during the second quarter. Muhlenkamp & Co. Inc. now owns 465,854 shares of the financial services provider’s stock worth $19,654,000 after purchasing an additional 2,883 shares during the period. KLP Kapitalforvaltning AS raised its position in shares of NMI by 33.0% during the second quarter. KLP Kapitalforvaltning AS now owns 37,100 shares of the financial services provider’s stock worth $1,565,000 after purchasing an additional 9,200 shares during the period. Finally, 111 Capital acquired a new stake in shares of NMI during the second quarter worth $214,000. 94.12% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Steven Scheid sold 19,926 shares of the company’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 sale, the director owned 78,960 shares in the company, valued at approximately $3,103,917.60. This represents a 20.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 3.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on NMIH. Barclays reaffirmed a “cautious” rating on shares of NMI in a research report on Monday, October 6th. JPMorgan Chase & Co. cut their target price on NMI from $44.00 to $43.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 7th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of NMI in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods lowered NMI from an “outperform” rating to a “market perform” rating and boosted their target price for the stock from $42.00 to $43.00 in a research report on Monday, July 7th. Finally, Wall Street Zen lowered NMI from a “buy” rating to a “hold” rating in a research report on Saturday, July 12th. Four equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $42.33.

NMI Stock Performance

NMIH opened at $36.82 on Friday. The company has a market cap of $2.86 billion, a PE ratio of 7.82, a price-to-earnings-growth ratio of 1.07 and a beta of 0.56. The stock has a 50-day moving average of $38.30 and a 200-day moving average of $38.18. 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, topping the consensus estimate of $1.16 by $0.06. The company had revenue of $149.07 million during the quarter, compared to the consensus estimate of $173.39 million. NMI had a return on equity of 16.51% and a net margin of 55.57%.The firm’s revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.20 EPS. As a group, equities research analysts forecast that NMI Holdings Inc will post 4.62 earnings per share for the current fiscal year.

NMI 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.