State Board of Administration of Florida Retirement System Purchases 11,216 Shares of NMI Holdings Inc (NMIH)

State Board of Administration of Florida Retirement System raised its position in NMI Holdings Inc (NASDAQ:NMIH) by 109.1% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 21,500 shares of the financial services provider’s stock after buying an additional 11,216 shares during the period. State Board of Administration of Florida Retirement System’s holdings in NMI were worth $487,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. United Services Automobile Association boosted its position in shares of NMI by 6.4% in the 2nd quarter. United Services Automobile Association now owns 51,633 shares of the financial services provider’s stock worth $842,000 after purchasing an additional 3,093 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. boosted its position in shares of NMI by 136.6% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 67,729 shares of the financial services provider’s stock worth $1,104,000 after purchasing an additional 39,100 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of NMI in the 2nd quarter worth $201,000. Schwab Charles Investment Management Inc. boosted its position in shares of NMI by 10.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 314,820 shares of the financial services provider’s stock worth $5,132,000 after purchasing an additional 30,196 shares during the last quarter. Finally, Swiss National Bank boosted its position in shares of NMI by 7.4% in the 2nd quarter. Swiss National Bank now owns 100,774 shares of the financial services provider’s stock worth $1,643,000 after purchasing an additional 6,900 shares during the last quarter. Hedge funds and other institutional investors own 89.33% of the company’s stock.

NMIH has been the topic of several recent research reports. Compass Point restated a “buy” rating and issued a $24.00 price target on shares of NMI in a research report on Thursday, August 2nd. Susquehanna Bancshares raised their price target on NMI from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Thursday, August 2nd. Royal Bank of Canada restated a “buy” rating and issued a $24.00 price target on shares of NMI in a research report on Thursday, August 2nd. BidaskClub lowered NMI from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 30th. Finally, B. Riley raised their price target on NMI from $20.00 to $26.00 and gave the stock a “buy” rating in a research report on Tuesday, August 7th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $24.89.

In related news, President Claudia J. Merkle sold 76,000 shares of the firm’s stock in a transaction on Wednesday, September 5th. The stock was sold at an average price of $21.26, for a total transaction of $1,615,760.00. Following the sale, the president now owns 162,195 shares of the company’s stock, valued at approximately $3,448,265.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Bradley M. Shuster sold 81,972 shares of the firm’s stock in a transaction on Thursday, September 6th. The stock was sold at an average price of $21.24, for a total value of $1,741,085.28. Following the sale, the chief executive officer now directly owns 643,056 shares in the company, valued at approximately $13,658,509.44. The disclosure for this sale can be found here. Insiders have sold a total of 241,156 shares of company stock worth $5,206,026 in the last ninety days. 5.70% of the stock is currently owned by company insiders.

Shares of NMI stock opened at $18.99 on Friday. The firm has a market cap of $1.26 billion, a P/E ratio of 13.37 and a beta of 1.10. NMI Holdings Inc has a 12 month low of $13.35 and a 12 month high of $24.50. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.29 and a current ratio of 0.29.

NMI (NASDAQ:NMIH) last issued its quarterly earnings data on Tuesday, October 30th. The financial services provider reported $0.46 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.05. The business had revenue of $71.76 million for the quarter. NMI had a return on equity of 15.86% and a net margin of 27.89%. On average, analysts expect that NMI Holdings Inc will post 1.6 EPS for the current year.

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NMI Profile

NMI Holdings, Inc, through its subsidiaries, provides private mortgage guaranty insurance services in the United States. The company offers mortgage insurance; reinsurance on loans; 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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Institutional Ownership by Quarter for NMI (NASDAQ:NMIH)

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