NMI Holdings, Inc. (NASDAQ:NMIH) Shares Purchased by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund boosted its holdings in NMI Holdings, Inc. (NASDAQ:NMIH) by 1.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 44,032 shares of the financial services provider’s stock after acquiring an additional 566 shares during the period. Illinois Municipal Retirement Fund owned about 0.06% of NMI worth $1,619,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Barclays PLC lifted its stake in NMI by 264.4% in the third quarter. Barclays PLC now owns 386,999 shares of the financial services provider’s stock valued at $15,940,000 after buying an additional 280,809 shares during the last quarter. abrdn plc acquired a new stake in shares of NMI in the 4th quarter worth about $8,122,000. FMR LLC lifted its position in NMI by 7.6% in the 3rd quarter. FMR LLC now owns 1,517,092 shares of the financial services provider’s stock valued at $62,489,000 after purchasing an additional 107,771 shares during the last quarter. Taika Capital LP acquired a new position in NMI during the 3rd quarter valued at about $4,071,000. Finally, Chase Investment Counsel Corp acquired a new position in NMI during the 3rd quarter valued at about $3,763,000. 94.12% of the stock is currently owned by institutional investors and hedge funds.

NMI Trading Up 1.8 %

Shares of NASDAQ:NMIH opened at $36.44 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.83 and a current ratio of 0.60. The stock has a market capitalization of $2.86 billion, a price-to-earnings ratio of 8.23, a PEG ratio of 1.41 and a beta of 1.12. NMI Holdings, Inc. has a 1-year low of $29.05 and a 1-year high of $42.49. The company has a 50 day moving average price of $36.78 and a 200 day moving average price of $38.54.

NMI (NASDAQ:NMIH) last released its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $1.07 earnings per share for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.07). NMI had a net margin of 55.32% and a return on equity of 17.33%. On average, research analysts anticipate that NMI Holdings, Inc. will post 4.62 EPS for the current fiscal year.

Insider Activity

In related news, EVP Norman Peter Fitzgerald sold 20,000 shares of the firm’s 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 owns 37,470 shares of the company’s stock, valued at approximately $1,344,423.60. This trade represents a 34.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 completion of the sale, the executive vice president now 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 disclosure for this sale can be found here. 2.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

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