NMI Holdings Inc $NMIH Stake Raised by Geode Capital Management LLC

by · The Markets Daily

Geode Capital Management LLC increased its holdings in NMI Holdings Inc (NASDAQ:NMIH – Free Report) by 0.3% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 1,966,970 shares of the financial services provider’s stock after purchasing an additional 5,628 shares during the quarter. Geode Capital Management LLC’s holdings in NMI were worth $82,996,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the business. Nuveen LLC acquired a new position in NMI during the 1st quarter worth $44,886,000. Millennium Management LLC raised its stake in shares of NMI by 209.9% during the first quarter. Millennium Management LLC now owns 1,432,950 shares of the financial services provider’s stock valued at $51,658,000 after purchasing an additional 970,551 shares in the last quarter. Public Sector Pension Investment Board lifted its holdings in NMI by 176.2% in the first quarter. Public Sector Pension Investment Board now owns 544,723 shares of the financial services provider’s stock worth $19,637,000 after purchasing an additional 347,524 shares during the period. Aberdeen Group plc grew its position in NMI by 134.2% in the 1st quarter. Aberdeen Group plc now owns 517,515 shares of the financial services provider’s stock valued at $18,656,000 after buying an additional 296,557 shares in the last quarter. Finally, Allianz Asset Management GmbH grew its position in NMI by 76.4% in the 2nd quarter. Allianz Asset Management GmbH now owns 640,158 shares of the financial services provider’s stock valued at $27,008,000 after buying an additional 277,318 shares in the last quarter. Institutional investors own 94.12% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on NMIH shares. JPMorgan Chase & Co. dropped their price target 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. Weiss Ratings reiterated a “buy (b)” rating on shares of NMI in a research note on Wednesday, October 8th. Finally, Barclays restated a “cautious” rating on shares of NMI in a research report on Monday, October 6th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, NMI has a consensus rating of “Moderate Buy” and a consensus target price of $41.20.

Check Out Our Latest Stock Analysis on NMIH

NMI Stock Performance

Shares of NMIH opened at $37.63 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.86 and a quick ratio of 0.86. The firm’s 50 day moving average is $37.17 and its 200-day moving average is $38.59. NMI Holdings Inc has a 12-month low of $31.90 and a 12-month high of $43.20. The stock has a market capitalization of $2.89 billion, a P/E ratio of 7.87, a P/E/G ratio of 1.16 and a beta of 0.63.

NMI (NASDAQ:NMIH – Get Free Report) last released its earnings results on Tuesday, November 4th. The financial services provider reported $1.21 EPS for the quarter, meeting the consensus estimate of $1.21. The business had revenue of $171.56 million during 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 business’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.15 earnings per share. Equities research analysts anticipate that NMI Holdings Inc will post 4.62 EPS for the current fiscal year.

Insider Activity at NMI

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

About NMI

(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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