American Trust acquired a new position in NMI Holdings, Inc. (NASDAQ:NMIH – Get Rating) in the first quarter, HoldingsChannel.com reports. The institutional investor acquired 11,008 shares of the financial services provider's stock, valued at approximately $227,000.
Other institutional investors have also added to or reduced their stakes in the company. Point72 Hong Kong Ltd bought a new position in NMI in the first quarter worth $33,000. Federated Hermes Inc. raised its holdings in NMI by 36.9% in the first quarter. Federated Hermes Inc. now owns 3,112 shares of the financial services provider's stock worth $64,000 after purchasing an additional 838 shares in the last quarter. Counterpoint Mutual Funds LLC purchased a new stake in shares of NMI in the first quarter worth $64,000. Captrust Financial Advisors grew its stake in shares of NMI by 136.6% in the first quarter. Captrust Financial Advisors now owns 3,175 shares of the financial services provider's stock worth $65,000 after acquiring an additional 1,833 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in shares of NMI by 15.6% in the first quarter. PNC Financial Services Group Inc. now owns 5,738 shares of the financial services provider's stock worth $118,000 after acquiring an additional 774 shares during the last quarter. Institutional investors own 96.93% of the company's stock.
Get NMI alerts:NMI Stock Up 0.7 %
NMIH stock opened at $21.28 on Tuesday. NMI Holdings, Inc. has a fifty-two week low of $15.33 and a fifty-two week high of $27.25. The business's 50-day moving average is $20.18 and its two-hundred day moving average is $19.22. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.57 and a current ratio of 0.57. The company has a market cap of $1.80 billion, a price-to-earnings ratio of 7.07 and a beta of 1.45.
NMI (NASDAQ:NMIH – Get Rating) last posted its earnings results on Tuesday, August 2nd. The financial services provider reported $0.86 earnings per share for the quarter, beating analysts' consensus estimates of $0.77 by $0.09. NMI had a return on equity of 17.40% and a net margin of 51.86%. The company had revenue of $132.22 million for the quarter, compared to the consensus estimate of $130.52 million. As a group, analysts forecast that NMI Holdings, Inc. will post 3.33 earnings per share for the current year.Insider Buying and Selling at NMI
In other 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 owns 58,607 shares of the company's stock, valued at $1,189,722.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.50% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
A number of research firms have recently commented on NMIH. StockNews.com raised NMI from a "hold" rating to a "buy" rating in a research note on Friday, August 12th. BTIG Research increased their target price on NMI to $28.00 in a research note on Tuesday, August 9th. Royal Bank of Canada cut NMI from an "outperform" rating to a "sector perform" rating and dropped their price objective for the company from $27.00 to $20.00 in a research report on Thursday, June 23rd. TheStreet raised NMI from a "c+" rating to a "b-" rating in a research report on Monday, August 29th. Finally, Compass Point dropped their price objective on NMI to $30.00 in a research report on Tuesday, August 9th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $29.56.
NMI Company Profile
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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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