State of Alaska Department of Revenue grew its stake in shares of NMI Holdings, Inc. (NASDAQ:NMIH – Get Rating) by 8.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 65,040 shares of the financial services provider's stock after purchasing an additional 5,220 shares during the period. State of Alaska Department of Revenue owned approximately 0.08% of NMI worth $1,082,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. BlackRock Inc. boosted its position in NMI by 1.3% during the 1st quarter. BlackRock Inc. now owns 13,781,315 shares of the financial services provider's stock valued at $284,172,000 after acquiring an additional 182,001 shares in the last quarter. Vanguard Group Inc. grew its stake in NMI by 2.7% in the first quarter. Vanguard Group Inc. now owns 5,845,369 shares of the financial services provider's stock worth $120,532,000 after purchasing an additional 153,564 shares during the period. State Street Corp raised its holdings in NMI by 15.8% in the first quarter. State Street Corp now owns 4,053,585 shares of the financial services provider's stock worth $83,585,000 after purchasing an additional 551,924 shares in the last quarter. Frontier Capital Management Co. LLC lifted its position in NMI by 27.8% during the first quarter. Frontier Capital Management Co. LLC now owns 2,696,215 shares of the financial services provider's stock valued at $55,596,000 after buying an additional 586,011 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of NMI by 6.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,693,347 shares of the financial services provider's stock valued at $55,538,000 after buying an additional 152,405 shares in the last quarter. Hedge funds and other institutional investors own 96.93% of the company's stock.
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Insider Activity at NMI
In other NMI news, Director Michael Curry Montgomery sold 19,630 shares of the firm's stock in a transaction dated Friday, September 9th. The stock was sold at an average price of $20.30, for a total value of $398,489.00. Following the transaction, the director now directly owns 58,607 shares of the company's stock, valued at $1,189,722.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.50% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
Several research analysts recently issued reports on NMIH shares. BTIG Research increased their price target on shares of NMI to $28.00 in a research note on Tuesday, August 9th. StockNews.com upgraded shares of NMI from a "hold" rating to a "buy" rating in a report on Friday, August 12th. TheStreet raised NMI from a "c+" rating to a "b-" rating in a research report on Monday, August 29th. Royal Bank of Canada downgraded shares of NMI from an "outperform" rating to a "sector perform" rating and reduced their price target for the company from $27.00 to $20.00 in a research report on Thursday, June 23rd. Finally, Compass Point lowered their price objective on NMI to $30.00 in a research report on Tuesday, August 9th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, NMI has an average rating of "Moderate Buy" and an average target price of $29.56.
NMI Stock Up 1.5 %
NMIH opened at $19.82 on Wednesday. The stock has a market capitalization of $1.68 billion, a price-to-earnings ratio of 6.58 and a beta of 1.45. The firm has a 50 day moving average price of $20.50 and a 200-day moving average price of $19.20. NMI Holdings, Inc. has a twelve month low of $15.33 and a twelve month high of $27.25. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.26.
NMI (NASDAQ:NMIH – Get Rating) last posted its earnings results on Tuesday, August 2nd. The financial services provider reported $0.86 EPS for the quarter, topping analysts' consensus estimates of $0.77 by $0.09. The business had revenue of $132.22 million during the quarter, compared to the consensus estimate of $130.52 million. NMI had a net margin of 51.86% and a return on equity of 17.40%. Equities research analysts forecast that NMI Holdings, Inc. will post 3.33 earnings per share for the current year.
About NMI
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NMI Holdings, Inc provides private mortgage guaranty insurance services in the United States. The company offers mortgage insurance services; 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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