Algert Global LLC Buys 60,598 Shares of NMI Holdings, Inc. (NASDAQ:NMIH)

by · The Markets Daily

Algert Global LLC raised its position in NMI Holdings, Inc. (NASDAQ:NMIH – Free Report) by 42.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 202,739 shares of the financial services provider’s stock after buying an additional 60,598 shares during the period. Algert Global LLC owned about 0.26% of NMI worth $7,453,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in NMIH. Principal Securities Inc. boosted its holdings in NMI by 66.5% in the fourth quarter. Principal Securities Inc. now owns 716 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 286 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of NMI by 288.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,868 shares of the financial services provider’s stock valued at $69,000 after purchasing an additional 1,387 shares during the last quarter. Covestor Ltd grew its position in shares of NMI by 601.1% during the 4th quarter. Covestor Ltd now owns 1,893 shares of the financial services provider’s stock worth $70,000 after buying an additional 1,623 shares during the period. Sterling Capital Management LLC raised its stake in shares of NMI by 786.1% during the fourth quarter. Sterling Capital Management LLC now owns 2,295 shares of the financial services provider’s stock worth $84,000 after buying an additional 2,036 shares during the last quarter. Finally, KBC Group NV lifted its holdings in NMI by 38.3% in the fourth quarter. KBC Group NV now owns 3,221 shares of the financial services provider’s stock valued at $118,000 after buying an additional 892 shares during the period. 94.12% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on NMIH. UBS Group dropped their target price on shares of NMI from $42.00 to $41.00 and set a “neutral” rating for the company in a research report on Wednesday, February 19th. Barclays lowered NMI from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $48.00 to $41.00 in a research note on Monday, January 6th. JPMorgan Chase & Co. decreased their target price on NMI from $42.00 to $41.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Finally, Keefe, Bruyette & Woods cut their price target on shares of NMI from $43.00 to $42.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 8th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, NMI presently has an average rating of “Moderate Buy” and an average price target of $42.14.

Check Out Our Latest Report on NMIH

Insiders Place Their Bets

In related news, EVP Robert Owen Smith sold 20,000 shares of the stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $36.58, for a total transaction of $731,600.00. Following the completion of the transaction, the executive vice president now directly owns 84,566 shares in the company, valued at approximately $3,093,424.28. This trade represents a 19.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Adam Pollitzer sold 57,166 shares of the business’s stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $36.54, for a total value of $2,088,845.64. Following the completion of the sale, the chief executive officer now owns 329,465 shares in the company, valued at $12,038,651.10. The trade was a 14.79 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 111,360 shares of company stock worth $4,042,654. Corporate insiders own 3.00% of the company’s stock.

NMI Price Performance

Shares of NMIH opened at $37.62 on Monday. The stock has a 50 day simple moving average of $34.93 and a 200 day simple moving average of $36.71. NMI Holdings, Inc. has a 52-week low of $31.59 and a 52-week high of $42.49. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.83 and a current ratio of 0.60. The firm has a market capitalization of $2.94 billion, a PE ratio of 8.49, a P/E/G ratio of 1.41 and a beta of 0.56.

NMI (NASDAQ:NMIH – Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The financial services provider reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.18. NMI had a net margin of 55.32% and a return on equity of 17.33%. The firm had revenue of $173.25 million for the quarter, compared to analyst estimates of $169.04 million. During the same quarter in the previous year, the firm posted $1.08 earnings per share. The business’s revenue was up 10.8% on a year-over-year basis. Sell-side analysts predict that NMI Holdings, Inc. will post 4.62 EPS for the current fiscal year.

NMI Profile

(Free Report)

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.

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