Envestnet Asset Management Inc. Buys 19,960 Shares of NMI Holdings Inc $NMIH

Envestnet Asset Management Inc. boosted its stake in shares of NMI Holdings Inc (NASDAQ:NMIH) by 46.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 63,036 shares of the financial services provider’s stock after buying an additional 19,960 shares during the period. Envestnet Asset Management Inc. owned approximately 0.08% of NMI worth $2,659,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Cerity Partners LLC raised its stake in shares of NMI by 25.2% in the first quarter. Cerity Partners LLC now owns 30,869 shares of the financial services provider’s stock valued at $1,113,000 after acquiring an additional 6,212 shares during the period. Xponance Inc. grew its holdings in NMI by 5.0% during the 1st quarter. Xponance Inc. now owns 5,917 shares of the financial services provider’s stock valued at $213,000 after purchasing an additional 281 shares during the last quarter. New York State Common Retirement Fund raised its position in NMI by 6.0% in the 1st quarter. New York State Common Retirement Fund now owns 79,513 shares of the financial services provider’s stock worth $2,866,000 after purchasing an additional 4,500 shares during the period. CWM LLC raised its position in NMI by 145.5% in the 1st quarter. CWM LLC now owns 11,167 shares of the financial services provider’s stock worth $403,000 after purchasing an additional 6,618 shares during the period. Finally, Victory Capital Management Inc. lifted its stake in NMI by 1.1% in the first quarter. Victory Capital Management Inc. now owns 33,709 shares of the financial services provider’s stock worth $1,215,000 after purchasing an additional 376 shares during the last quarter. 94.12% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at NMI

In other NMI news, Director Steven Scheid sold 19,926 shares of the business’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $39.31, for a total value of $783,291.06. Following the completion of the transaction, the director directly owned 78,960 shares in the company, valued at approximately $3,103,917.60. The trade was a 20.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

NMIH has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of NMI in a research note on Wednesday, October 8th. JPMorgan Chase & Co. dropped their price objective on NMI from $43.00 to $42.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th. Finally, Barclays reiterated a “cautious” rating on shares of NMI in a research note on Monday, October 6th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $41.20.

NMI Price Performance

NASDAQ NMIH opened at $37.58 on Monday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.86 and a current ratio of 0.86. The firm’s 50 day moving average price is $37.45 and its 200-day moving average price is $38.61. NMI Holdings Inc has a 52-week low of $31.90 and a 52-week high of $43.20. The company has a market cap of $2.89 billion, a PE ratio of 7.86, a P/E/G ratio of 1.16 and a beta of 0.63.

NMI (NASDAQ:NMIH) last issued its quarterly earnings data on Tuesday, November 4th. The financial services provider reported $1.21 EPS for the quarter, hitting analysts’ consensus estimates of $1.21. The company had revenue of $171.56 million during the quarter, compared to the consensus estimate of $177.01 million. NMI had a net margin of 55.02% and a return on equity of 16.08%. NMI’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.15 earnings per share. Sell-side analysts forecast that NMI Holdings Inc will post 4.62 EPS 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.