NMI Holdings Inc $NMIH Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue lowered its stake in NMI Holdings Inc (NASDAQ:NMIH) by 45.4% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 15,538 shares of the financial services provider’s stock after selling 12,929 shares during the period. State of Alaska Department of Revenue’s holdings in NMI were worth $579,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of NMIH. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in NMI in the second quarter worth about $1,130,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in NMI by 9.8% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 215,188 shares of the financial services provider’s stock valued at $8,842,000 after buying an additional 19,128 shares in the last quarter. Sei Investments Co. lifted its holdings in NMI by 46.9% during the 1st quarter. Sei Investments Co. now owns 81,673 shares of the financial services provider’s stock worth $3,064,000 after buying an additional 26,059 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt bought a new position in NMI during the 2nd quarter worth approximately $3,542,000. Finally, Pinnacle Holdings LLC bought a new position in NMI during the 2nd quarter worth approximately $2,582,000. Institutional investors own 94.12% of the company’s stock.

NMI Stock Performance

Shares of NASDAQ NMIH opened at $42.55 on Friday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.15. The firm’s 50-day moving average price is $42.53 and its two-hundred day moving average price is $40.83. NMI Holdings Inc has a 52-week low of $34.84 and a 52-week high of $46.74. The stock has a market capitalization of $3.20 billion, a P/E ratio of 8.38, a P/E/G ratio of 1.35 and a beta of 0.56.

NMI (NASDAQ:NMIH) last posted its earnings results on Thursday, July 30th. The financial services provider reported $1.38 EPS for the quarter, beating the consensus estimate of $1.28 by $0.10. The company had revenue of $187.89 million during the quarter, compared to analyst estimates of $156.26 million. NMI had a return on equity of 15.13% and a net margin of 54.10%. The business’s revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.22 earnings per share. As a group, sell-side analysts forecast that NMI Holdings Inc will post 5.26 earnings per share for the current year.

Wall Street Analysts Forecast Growth

NMIH has been the subject of a number of research analyst reports. Royal Bank Of Canada reiterated an “outperform” rating and issued a $53.00 price target on shares of NMI in a report on Tuesday, August 4th. JPMorgan Chase & Co. reduced their price objective on NMI from $50.00 to $45.00 and set an “overweight” rating on the stock in a research note on Monday, October 12th. Truist Financial lifted their price objective on shares of NMI from $49.00 to $51.00 and gave the stock a “buy” rating in a report on Friday, July 31st. BTIG Research started coverage on shares of NMI in a research note on Tuesday, September 22nd. They set a “buy” rating and a $54.00 target price for the company. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $47.00 target price on shares of NMI in a research note on Monday, August 3rd. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $48.43.

Insider Buying and Selling

In related news, CEO Adam Pollitzer sold 172,706 shares of the firm’s stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $44.85, for a total value of $7,745,864.10. Following the sale, the chief executive officer owned 270,267 shares of the company’s stock, valued at approximately $12,121,474.95. This trade represents a 38.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 transaction, the executive vice president owned 50,734 shares of the company’s stock, valued at $2,258,170.34. This represents a 18.69% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 196,368 shares of company stock valued at $8,800,740. Insiders own 2.44% of the company’s stock.

About NMI

NMI Holdings, Inc (NASDAQ: NMIH) is the parent company of National MI, a U.S.-based provider of private mortgage insurance. Through its insurance subsidiaries, the company helps lenders manage the risk associated with residential mortgage loans, particularly loans made to borrowers with down payments below traditional thresholds.

National MI primarily offers private mortgage insurance for residential purchase and refinance transactions. Its products are designed for mortgage lenders, banks, credit unions and other housing-finance institutions, helping them expand access to homeownership while transferring a portion of potential credit risk.