Geode Capital Management LLC Has $70 Million Stock Position in NMI Holdings, Inc. (NASDAQ:NMIH)

Geode Capital Management LLC reduced its stake in shares of NMI Holdings, Inc. (NASDAQ:NMIH) by 0.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,903,883 shares of the financial services provider’s stock after selling 6,713 shares during the period. Geode Capital Management LLC owned approximately 2.41% of NMI worth $70,003,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Franklin Resources Inc. lifted its stake in NMI by 3.4% in the 4th quarter. Franklin Resources Inc. now owns 101,535 shares of the financial services provider’s stock valued at $3,732,000 after acquiring an additional 3,385 shares in the last quarter. Alliancebernstein L.P. increased its stake in NMI by 5.0% in the 4th quarter. Alliancebernstein L.P. now owns 99,364 shares of the financial services provider’s stock valued at $3,653,000 after buying an additional 4,768 shares during the last quarter. New Age Alpha Advisors LLC bought a new stake in NMI during the 4th quarter worth about $4,721,000. Norges Bank acquired a new position in shares of NMI during the 4th quarter worth about $13,174,000. Finally, JPMorgan Chase & Co. grew its holdings in shares of NMI by 25.3% in the 4th quarter. JPMorgan Chase & Co. now owns 971,863 shares of the financial services provider’s stock valued at $35,726,000 after acquiring an additional 196,059 shares in the last quarter. Institutional investors and hedge funds own 94.12% of the company’s stock.

Insider Activity at NMI

In other news, EVP Mohammad Nawaz Yousaf sold 1,083 shares of the business’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $35.44, for a total transaction of $38,381.52. Following the sale, the executive vice president now directly owns 49,218 shares in the company, valued at approximately $1,744,285.92. The trade was a 2.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Norman Peter Fitzgerald sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $35.88, for a total transaction of $717,600.00. Following the sale, the executive vice president now directly owns 37,470 shares in the company, valued at $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. 2.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on NMIH shares. UBS Group dropped their target price on NMI from $42.00 to $41.00 and set a “neutral” rating on the stock in a report on Wednesday, February 19th. Barclays cut NMI from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $48.00 to $41.00 in a research note on Monday, January 6th. Keefe, Bruyette & Woods decreased their target price on shares of NMI from $43.00 to $42.00 and set an “outperform” rating for the company in a research note on Tuesday. Finally, JPMorgan Chase & Co. decreased their price objective on shares of NMI from $42.00 to $41.00 and set an “overweight” rating for the company in a research report on Tuesday. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.14.

NMI Trading Up 2.1 %

NMIH stock opened at $33.94 on Friday. NMI Holdings, Inc. has a 52 week low of $29.05 and a 52 week high of $42.49. 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 company’s 50-day simple moving average is $35.48 and its 200 day simple moving average is $37.44. The company has a market capitalization of $2.66 billion, a PE ratio of 7.66, a price-to-earnings-growth ratio of 1.41 and a beta of 0.62.

NMI (NASDAQ:NMIH) last issued its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $1.07 earnings per share (EPS) 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, sell-side analysts anticipate that NMI Holdings, Inc. will post 4.62 earnings per share for the current year.

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.