VIRGINIA RETIREMENT SYSTEMS ET Al Invests $1.13 Million in NMI Holdings Inc $NMIH

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of NMI Holdings Inc (NASDAQ:NMIH) in the 2nd quarter, HoldingsChannel reports. The fund acquired 27,506 shares of the financial services provider’s stock, valued at approximately $1,130,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Allworth Financial LP raised its holdings in NMI by 196.0% in the 3rd quarter. Allworth Financial LP now owns 660 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 437 shares during the period. Nykredit A S bought a new stake in NMI during the second quarter valued at about $31,000. IFP Advisors Inc boosted its holdings in NMI by 189.5% during the fourth quarter. IFP Advisors Inc now owns 796 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 521 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in shares of NMI in the second quarter valued at about $36,000. Finally, Pacer Advisors Inc. grew its position in shares of NMI by 58.7% in the first quarter. Pacer Advisors Inc. now owns 1,006 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 372 shares during the last quarter. 94.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. UBS Group set a $46.00 price objective on NMI in a research report on Friday, May 22nd. JPMorgan Chase & Co. upped their price target on NMI from $48.00 to $50.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $47.00 price objective on shares of NMI in a research note on Monday, August 3rd. Truist Financial raised their price objective on shares of NMI from $49.00 to $51.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of NMI in a research report on Wednesday. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $48.33.

NMI Stock Down 0.7%

NASDAQ NMIH opened at $43.89 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.65 and a current ratio of 0.65. The firm has a 50-day simple moving average of $43.82 and a 200 day simple moving average of $40.21. NMI Holdings Inc has a twelve month low of $34.84 and a twelve month high of $46.74. The stock has a market cap of $3.30 billion, a PE ratio of 8.64, a PEG ratio of 1.18 and a beta of 0.53.

NMI (NASDAQ:NMIH) last released its earnings results on Thursday, July 30th. The financial services provider reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.10. NMI had a return on equity of 15.13% and a net margin of 54.10%.The business had revenue of $187.89 million for the quarter, compared to the consensus estimate of $156.26 million. During the same period last year, the business earned $1.22 earnings per share. The firm’s revenue for the quarter was up 8.1% compared to the same quarter last year. On average, research analysts forecast that NMI Holdings Inc will post 5.25 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Robert Smith sold 12,000 shares of NMI stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $44.65, for a total transaction of $535,800.00. Following the sale, the executive vice president owned 96,381 shares of the company’s stock, valued at approximately $4,303,411.65. This trade represents a 11.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Aurora Swithenbank sold 11,662 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $44.51, for a total value of $519,075.62. Following the sale, the executive vice president owned 50,734 shares in the company, valued at approximately $2,258,170.34. This represents a 18.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 196,368 shares of company stock worth $8,800,740. 2.44% of the stock is currently owned by company insiders.

About NMI

NMI Holdings, Inc (NASDAQ: NMIH) is the parent company of National MI, a provider of private mortgage insurance in the United States. Through its insurance subsidiaries, the company offers mortgage insurance to lenders and other mortgage market participants, helping protect against losses when borrowers default on residential home loans.

National MI’s products support conventional residential mortgages, including borrower-paid and lender-paid mortgage insurance arrangements. Its coverage is generally used when a homebuyer makes a down payment of less than 20%, enabling lenders to extend mortgage credit while reducing their exposure to potential default-related losses.