Maryland State Retirement & Pension System Reduces Position in NMI Holdings, Inc. (NASDAQ:NMIH)

Maryland State Retirement & Pension System cut its position in NMI Holdings, Inc. (NASDAQ:NMIH) by 2.8% during the fourth quarter, Holdings Channel reports. The firm owned 29,468 shares of the financial services provider’s stock after selling 839 shares during the period. Maryland State Retirement & Pension System’s holdings in NMI were worth $875,000 as of its most recent filing with the SEC.

Other institutional investors have also recently modified their holdings of the company. Assenagon Asset Management S.A. increased its stake in shares of NMI by 88.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 859,955 shares of the financial services provider’s stock worth $25,523,000 after acquiring an additional 402,793 shares during the period. Van Berkom & Associates Inc. increased its holdings in NMI by 7.3% in the third quarter. Van Berkom & Associates Inc. now owns 2,708,797 shares of the financial services provider’s stock valued at $73,381,000 after buying an additional 185,099 shares in the last quarter. Comerica Bank purchased a new position in shares of NMI in the 3rd quarter valued at about $4,914,000. Vanguard Group Inc. increased its position in shares of NMI by 2.5% in the third quarter. Vanguard Group Inc. now owns 6,583,844 shares of the financial services provider’s stock valued at $178,356,000 after buying an additional 162,614 shares in the last quarter. Finally, Qube Research & Technologies Ltd raised its position in NMI by 171.5% during the third quarter. Qube Research & Technologies Ltd now owns 237,459 shares of the financial services provider’s stock worth $6,433,000 after acquiring an additional 150,000 shares during the period. 94.12% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NMIH has been the topic of several research reports. JPMorgan Chase & Co. raised their price target on shares of NMI from $35.00 to $36.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. StockNews.com upgraded NMI from a “hold” rating to a “buy” rating in a research report on Friday, May 3rd. Compass Point lifted their target price on NMI from $33.00 to $36.00 and gave the company a “buy” rating in a research report on Tuesday. Keefe, Bruyette & Woods increased their price target on NMI from $33.00 to $36.00 and gave the stock a “market perform” rating in a report on Thursday, April 4th. Finally, Royal Bank of Canada raised their price objective on NMI from $31.00 to $33.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 15th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $35.22.

NMI Price Performance

Shares of NMIH opened at $33.60 on Friday. The firm has a market capitalization of $2.70 billion, a price-to-earnings ratio of 8.32, a PEG ratio of 1.17 and a beta of 1.06. The firm’s fifty day simple moving average is $30.87 and its 200-day simple moving average is $29.69. NMI Holdings, Inc. has a twelve month low of $23.63 and a twelve month high of $33.97. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.20.

NMI (NASDAQ:NMIH) last posted its earnings results on Tuesday, April 30th. The financial services provider reported $1.08 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.12. NMI had a return on equity of 18.09% and a net margin of 56.26%. The firm had revenue of $156.25 million during the quarter, compared to analysts’ expectations of $133.76 million. During the same quarter in the previous year, the business earned $0.88 earnings per share. The firm’s revenue was up 14.2% compared to the same quarter last year. Equities analysts forecast that NMI Holdings, Inc. will post 4.18 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Chairman Bradley M. Shuster sold 12,836 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $30.53, for a total value of $391,883.08. Following the completion of the sale, the chairman now directly owns 427,271 shares of the company’s stock, valued at approximately $13,044,583.63. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, EVP Mohammad Nawaz Yousaf sold 1,117 shares of the stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $29.95, for a total transaction of $33,454.15. Following the completion of the sale, the executive vice president now owns 32,909 shares in the company, valued at $985,624.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Bradley M. Shuster sold 12,836 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $30.53, for a total value of $391,883.08. Following the completion of the transaction, the chairman now owns 427,271 shares in the company, valued at approximately $13,044,583.63. The disclosure for this sale can be found here. Insiders have sold 138,599 shares of company stock worth $4,200,058 in the last ninety days. 2.70% of the stock is owned by corporate insiders.

NMI Company Profile

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.