Arrowstreet Capital Limited Partnership Purchases 95,899 Shares of NMI Holdings Inc $NMIH

Arrowstreet Capital Limited Partnership increased its position in shares of NMI Holdings Inc (NASDAQ:NMIH) by 18.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 615,979 shares of the financial services provider’s stock after buying an additional 95,899 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 0.79% of NMI worth $25,988,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in NMIH. Panagora Asset Management Inc. increased its stake in NMI by 2.2% in the 2nd quarter. Panagora Asset Management Inc. now owns 566,345 shares of the financial services provider’s stock valued at $23,894,000 after buying an additional 11,952 shares during the last quarter. F m Investments LLC grew its holdings in shares of NMI by 0.5% in the second quarter. F m Investments LLC now owns 119,187 shares of the financial services provider’s stock valued at $5,028,000 after acquiring an additional 581 shares in the last quarter. Norges Bank purchased a new stake in shares of NMI during the second quarter valued at approximately $4,856,000. Hsbc Holdings PLC increased its position in shares of NMI by 56.8% during the second quarter. Hsbc Holdings PLC now owns 108,895 shares of the financial services provider’s stock valued at $4,594,000 after acquiring an additional 39,439 shares during the last quarter. Finally, Capital Fund Management S.A. bought a new stake in NMI during the second quarter worth $1,298,000. Institutional investors and hedge funds own 94.12% of the company’s stock.

Insiders Place Their Bets

In other NMI news, Director Steven Scheid sold 19,926 shares of the stock in a transaction on Monday, September 15th. The stock was sold at an average price of $39.31, for a total transaction of $783,291.06. Following the sale, the director owned 78,960 shares in the company, valued at $3,103,917.60. This represents a 20.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael J. Embler sold 20,000 shares of NMI stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $36.90, for a total value of $738,000.00. Following the completion of the transaction, the director owned 46,046 shares of the company’s stock, valued at approximately $1,699,097.40. This trade represents a 30.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 3.00% of the company’s stock.

NMI Price Performance

NASDAQ NMIH opened at $37.57 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.17. The company has a market cap of $2.89 billion, a PE ratio of 7.86, a price-to-earnings-growth ratio of 1.17 and a beta of 0.66. NMI Holdings Inc has a 52 week low of $31.90 and a 52 week high of $43.20. The firm’s 50-day simple moving average is $36.96 and its two-hundred day simple moving average is $38.59.

NMI (NASDAQ:NMIH) last posted its quarterly earnings results on Tuesday, November 4th. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.21. The company had revenue of $171.56 million for the quarter, compared to analyst estimates of $177.01 million. NMI had a net margin of 55.02% and a return on equity of 16.08%. The company’s quarterly revenue 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. Research analysts predict that NMI Holdings Inc will post 4.62 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Barclays restated a “cautious” rating on shares of NMI in a research note on Monday, October 6th. Weiss Ratings restated a “buy (b)” rating on shares of NMI in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of NMI from $43.00 to $42.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, NMI currently has an average rating of “Moderate Buy” and a consensus target price of $41.20.

About NMI

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.