Renaissance Group LLC Purchases 15,402 Shares of NMI Holdings Inc $NMIH

Renaissance Group LLC lifted its position in shares of NMI Holdings Inc (NASDAQ:NMIH) by 9.0% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 186,185 shares of the financial services provider’s stock after purchasing an additional 15,402 shares during the quarter. Renaissance Group LLC’s holdings in NMI were worth $7,138,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Walleye Capital LLC acquired a new stake in NMI during the 2nd quarter worth about $13,245,000. Exchange Traded Concepts LLC bought a new stake in shares of NMI during the 3rd quarter valued at about $1,926,000. Capital Fund Management S.A. acquired a new stake in NMI during the second quarter worth approximately $1,298,000. Jump Financial LLC increased its holdings in NMI by 184.6% in the second quarter. Jump Financial LLC now owns 193,322 shares of the financial services provider’s stock worth $8,156,000 after purchasing an additional 125,401 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd lifted its stake in NMI by 219.9% in the third quarter. Y Intercept Hong Kong Ltd now owns 86,824 shares of the financial services provider’s stock valued at $3,329,000 after buying an additional 59,682 shares during the period. Institutional investors and hedge funds own 94.12% of the company’s stock.

NMI Stock Performance

NMIH opened at $41.05 on Friday. NMI Holdings Inc has a 1-year low of $31.90 and a 1-year high of $43.20. The company has a market cap of $3.16 billion, a price-to-earnings ratio of 8.59, a PEG ratio of 1.24 and a beta of 0.64. The company’s fifty day moving average price is $39.46 and its two-hundred day moving average price is $38.49. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.17.

NMI (NASDAQ:NMIH) last posted its earnings results on Tuesday, November 4th. The financial services provider reported $1.21 EPS for the quarter, hitting the consensus estimate of $1.21. NMI had a net margin of 55.02% and a return on equity of 16.08%. The company had revenue of $171.56 million during the quarter, compared to the consensus estimate of $177.01 million. During the same period in the previous year, the firm posted $1.15 earnings per share. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. On average, analysts expect that NMI Holdings Inc will post 4.62 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Michael J. Embler sold 20,000 shares of the stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $36.90, for a total value of $738,000.00. Following the completion of the sale, the director directly owned 46,046 shares of the company’s stock, valued at $1,699,097.40. This represents a 30.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 3.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on NMIH. Keefe, Bruyette & Woods raised shares of NMI from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $46.00 to $48.00 in a research report on Thursday, December 18th. UBS Group set a $43.00 price target on shares of NMI in a report on Monday, January 12th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of NMI in a research note on Thursday, January 22nd. JPMorgan Chase & Co. increased their price objective on shares of NMI from $42.00 to $43.00 and gave the stock an “overweight” rating in a research report on Monday, January 12th. Finally, Barclays raised their target price on NMI from $43.00 to $44.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 6th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, NMI has a consensus rating of “Moderate Buy” and an average price target of $43.00.

NMI Company Profile

NMI Holdings, Inc (NASDAQ: NMIH) is a publicly traded mortgage insurance company that provides private mortgage insurance to lenders across the United States and Canada. Through its principal subsidiary, National Mortgage Insurance Corporation, NMI underwrites and issues policies that protect originators and investors against losses arising from borrower default on residential mortgage loans. By mitigating credit risk on higher‐loan‐to‐value mortgages, the company supports homebuyers’ access to financing and contributes to overall market liquidity.

Beyond its core mortgage insurance products, NMI offers credit risk‐sharing and reinsurance solutions designed to help clients optimize capital utilization and manage portfolio exposure.