Wedge Capital Management L L P NC Acquires 26,565 Shares of NMI Holdings, Inc. (NASDAQ:NMIH)

Wedge Capital Management L L P NC grew its position in shares of NMI Holdings, Inc. (NASDAQ:NMIH) by 10.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 276,542 shares of the financial services provider’s stock after acquiring an additional 26,565 shares during the quarter. Wedge Capital Management L L P NC’s holdings in NMI were worth $8,208,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of NMIH. Lazard Asset Management LLC boosted its holdings in shares of NMI by 426.0% in the 3rd quarter. Lazard Asset Management LLC now owns 52,255 shares of the financial services provider’s stock valued at $1,414,000 after buying an additional 42,321 shares during the last quarter. Tudor Investment Corp Et Al raised its stake in NMI by 223.8% in the 3rd quarter. Tudor Investment Corp Et Al now owns 205,640 shares of the financial services provider’s stock valued at $5,571,000 after acquiring an additional 142,135 shares during the period. Brandywine Global Investment Management LLC increased its position in NMI by 14.1% during the 3rd quarter. Brandywine Global Investment Management LLC now owns 250,077 shares of the financial services provider’s stock worth $6,775,000 after buying an additional 30,925 shares during the period. Invesco Ltd. increased its position in NMI by 31.1% during the 3rd quarter. Invesco Ltd. now owns 567,139 shares of the financial services provider’s stock worth $15,364,000 after buying an additional 134,538 shares during the period. Finally, Vanguard Group Inc. increased its position in NMI by 2.5% during the 3rd quarter. Vanguard Group Inc. now owns 6,583,844 shares of the financial services provider’s stock worth $178,356,000 after buying an additional 162,614 shares during the period. Institutional investors and hedge funds own 94.12% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on NMIH shares. JPMorgan Chase & Co. increased their price objective on NMI from $34.00 to $35.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 3rd. StockNews.com cut NMI from a “buy” rating to a “hold” rating in a research report on Thursday, March 21st. Keefe, Bruyette & Woods raised their price target on NMI from $33.00 to $36.00 and gave the stock a “market perform” rating in a research report on Thursday, April 4th. Truist Financial raised their price objective on NMI from $34.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, February 15th. Finally, Royal Bank of Canada raised their price objective on NMI from $31.00 to $33.00 and gave the company a “sector perform” rating in a research note on Thursday, February 15th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.44.

NMI Stock Performance

Shares of NMIH stock opened at $30.79 on Wednesday. The business’s 50-day moving average price is $30.25 and its 200-day moving average price is $29.31. NMI Holdings, Inc. has a 12 month low of $22.22 and a 12 month high of $32.50. The firm has a market capitalization of $2.48 billion, a price-to-earnings ratio of 8.02, a PEG ratio of 1.13 and a beta of 1.06. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.21.

NMI (NASDAQ:NMIH) last announced its quarterly earnings results on Wednesday, February 14th. The financial services provider reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.06. NMI had a return on equity of 17.97% and a net margin of 55.63%. The firm had revenue of $151.38 million for the quarter, compared to analyst estimates of $131.70 million. During the same period last year, the firm posted $0.86 earnings per share. The business’s revenue for the quarter was up 13.7% on a year-over-year basis. Equities research analysts forecast that NMI Holdings, Inc. will post 4.05 EPS for the current year.

Insider Activity

In other news, Chairman Bradley M. Shuster sold 12,836 shares of NMI stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $30.53, for a total transaction of $391,883.08. Following the sale, the chairman now directly owns 427,271 shares of the company’s stock, valued at $13,044,583.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Robert Owen Smith sold 3,000 shares of NMI stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $31.19, for a total value of $93,570.00. Following the transaction, the executive vice president now directly owns 82,612 shares of the company’s stock, valued at $2,576,668.28. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Bradley M. Shuster sold 12,836 shares of NMI stock in a transaction that occurred on 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 transaction, the chairman now directly owns 427,271 shares in the company, valued at $13,044,583.63. The disclosure for this sale can be found here. Over the last three months, insiders have sold 145,158 shares of company stock valued at $4,395,582. 2.40% of the stock is currently owned by corporate insiders.

About NMI

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.