Chase Investment Counsel Corp Cuts Holdings in NMI Holdings, Inc. (NASDAQ:NMIH)

Chase Investment Counsel Corp decreased its position in shares of NMI Holdings, Inc. (NASDAQ:NMIH) by 68.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,012 shares of the financial services provider’s stock after selling 62,351 shares during the period. Chase Investment Counsel Corp’s holdings in NMI were worth $1,066,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Illumine Investment Management LLC bought a new position in shares of NMI in the 4th quarter valued at about $479,000. Versor Investments LP lifted its holdings in shares of NMI by 6.7% in the 4th quarter. Versor Investments LP now owns 22,311 shares of the financial services provider’s stock valued at $820,000 after acquiring an additional 1,400 shares during the last quarter. Denali Advisors LLC lifted its holdings in shares of NMI by 2,446.6% in the 4th quarter. Denali Advisors LLC now owns 175,718 shares of the financial services provider’s stock valued at $6,459,000 after acquiring an additional 168,818 shares during the last quarter. Illinois Municipal Retirement Fund lifted its holdings in shares of NMI by 1.3% in the 4th quarter. Illinois Municipal Retirement Fund now owns 44,032 shares of the financial services provider’s stock valued at $1,619,000 after acquiring an additional 566 shares during the last quarter. Finally, Hudson Edge Investment Partners Inc. lifted its holdings in shares of NMI by 27.3% in the 4th quarter. Hudson Edge Investment Partners Inc. now owns 25,568 shares of the financial services provider’s stock valued at $940,000 after acquiring an additional 5,490 shares during the last quarter. Institutional investors own 94.12% of the company’s stock.

NMI Stock Performance

NMI stock opened at $36.44 on Friday. The company has a 50 day moving average price of $36.78 and a 200-day moving average price of $38.54. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.83 and a current ratio of 0.60. NMI Holdings, Inc. has a fifty-two week low of $29.05 and a fifty-two week high of $42.49. The company has a market capitalization of $2.86 billion, a PE ratio of 8.23, a P/E/G ratio of 1.41 and a beta of 1.12.

NMI (NASDAQ:NMIH) last posted its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $1.07 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.07). NMI had a net margin of 55.32% and a return on equity of 17.33%. As a group, equities analysts forecast that NMI Holdings, Inc. will post 4.62 earnings per share for the current year.

Insider Activity

In related news, EVP Mohammad Nawaz Yousaf sold 1,083 shares of NMI stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $35.44, for a total transaction of $38,381.52. Following the transaction, the executive vice president now directly owns 49,218 shares of the company’s stock, valued at $1,744,285.92. This trade represents a 2.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Norman Peter Fitzgerald sold 20,000 shares of NMI stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $35.88, for a total transaction of $717,600.00. Following the transaction, the executive vice president now directly owns 37,470 shares in the company, valued at approximately $1,344,423.60. The trade was a 34.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.70% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Royal Bank of Canada lowered their price target on shares of NMI from $48.00 to $47.00 and set an “outperform” rating for the company in a report on Thursday, November 7th. Keefe, Bruyette & Woods raised shares of NMI from a “market perform” rating to an “outperform” rating and set a $43.00 price target for the company in a report on Monday, February 24th. UBS Group decreased their price objective on shares of NMI from $42.00 to $41.00 and set a “neutral” rating for the company in a research note on Wednesday, February 19th. Barclays downgraded shares of NMI from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $48.00 to $41.00 in a research note on Monday, January 6th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of NMI from $46.00 to $41.00 and set an “overweight” rating for the company in a research note on Monday, December 9th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, NMI presently has an average rating of “Moderate Buy” and an average price target of $42.29.

NMI 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.