State of New Jersey Common Pension Fund D Cuts Stock Holdings in NMI Holdings Inc (NASDAQ:NMIH)

State of New Jersey Common Pension Fund D lowered its position in shares of NMI Holdings Inc (NASDAQ:NMIH) by 15.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 71,079 shares of the financial services provider’s stock after selling 13,121 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.10% of NMI worth $2,358,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of NMIH. Mason Street Advisors LLC grew its stake in shares of NMI by 2.1% in the third quarter. Mason Street Advisors LLC now owns 23,011 shares of the financial services provider’s stock worth $604,000 after purchasing an additional 468 shares in the last quarter. Municipal Employees Retirement System of Michigan increased its holdings in shares of NMI by 2.4% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 20,340 shares of the financial services provider’s stock valued at $534,000 after acquiring an additional 470 shares during the last quarter. Metropolitan Life Insurance Co NY raised its position in shares of NMI by 2.8% in the third quarter. Metropolitan Life Insurance Co NY now owns 21,118 shares of the financial services provider’s stock valued at $555,000 after purchasing an additional 570 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in NMI by 15.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,405 shares of the financial services provider’s stock worth $116,000 after acquiring an additional 604 shares during the last quarter. Finally, Mackay Shields LLC increased its position in NMI by 0.5% in the 3rd quarter. Mackay Shields LLC now owns 152,382 shares of the financial services provider’s stock worth $4,001,000 after buying an additional 800 shares during the period. 90.33% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ NMIH traded up $0.27 during midday trading on Tuesday, reaching $29.92. The stock had a trading volume of 10,585 shares, compared to its average volume of 731,011. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.48 and a current ratio of 0.47. The company’s 50 day moving average price is $32.46 and its 200 day moving average price is $30.40. NMI Holdings Inc has a twelve month low of $23.00 and a twelve month high of $35.79. The firm has a market cap of $2.02 billion, a price-to-earnings ratio of 12.25 and a beta of 1.22.

NMI (NASDAQ:NMIH) last issued its earnings results on Tuesday, February 11th. The financial services provider reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.05. The business had revenue of $104.90 million during the quarter, compared to analyst estimates of $104.11 million. NMI had a return on equity of 21.67% and a net margin of 45.40%. Equities analysts forecast that NMI Holdings Inc will post 3.02 earnings per share for the current fiscal year.

Several equities research analysts have recently weighed in on the company. Credit Suisse Group reiterated a “hold” rating and issued a $33.00 price objective on shares of NMI in a research note on Sunday, November 24th. JPMorgan Chase & Co. downgraded shares of NMI from an “overweight” rating to a “neutral” rating and cut their target price for the company from $37.00 to $36.50 in a research report on Wednesday, February 12th. ValuEngine raised NMI from a “strong sell” rating to a “sell” rating in a research note on Tuesday, February 11th. BTIG Research increased their target price on shares of NMI from $36.00 to $41.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Finally, Compass Point upgraded NMI from a “neutral” rating to a “buy” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $36.81.

In other news, Director Steven Scheid sold 27,325 shares of the firm’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $30.33, for a total value of $828,767.25. Following the completion of the transaction, the director now directly owns 80,947 shares in the company, valued at $2,455,122.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Bradley M. Shuster sold 25,625 shares of the business’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $32.24, for a total transaction of $826,150.00. Following the transaction, the chairman now owns 517,927 shares of the company’s stock, valued at $16,697,966.48. The disclosure for this sale can be found here. Insiders have sold a total of 215,371 shares of company stock worth $7,047,263 over the last quarter. Company insiders own 4.20% of the company’s stock.

About NMI

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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