Panagora Asset Management Inc. Boosts Stock Holdings in NMI Holdings, Inc. (NASDAQ:NMIH)

Panagora Asset Management Inc. lifted its position in shares of NMI Holdings, Inc. (NASDAQ:NMIH) by 5.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 526,287 shares of the financial services provider’s stock after buying an additional 29,040 shares during the period. Panagora Asset Management Inc. owned approximately 0.66% of NMI worth $17,915,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of NMI by 3.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,692 shares of the financial services provider’s stock valued at $555,000 after purchasing an additional 663 shares in the last quarter. Federated Hermes Inc. grew its stake in NMI by 39,091.4% during the fourth quarter. Federated Hermes Inc. now owns 31,745 shares of the financial services provider’s stock worth $942,000 after buying an additional 31,664 shares during the period. Jackson Creek Investment Advisors LLC purchased a new position in shares of NMI in the 4th quarter valued at $951,000. Summit Global Investments lifted its holdings in shares of NMI by 19.0% during the 4th quarter. Summit Global Investments now owns 49,986 shares of the financial services provider’s stock valued at $1,484,000 after acquiring an additional 7,988 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in NMI by 9.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 980,783 shares of the financial services provider’s stock worth $29,110,000 after purchasing an additional 81,727 shares during the period. 94.12% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other NMI news, Director Michael J. Embler sold 26,008 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $39.35, for a total transaction of $1,023,414.80. Following the sale, the director now directly owns 61,607 shares of the company’s stock, valued at $2,424,235.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider William J. Leatherberry sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $40.07, for a total value of $120,210.00. Following the sale, the insider now owns 153,689 shares of the company’s stock, valued at approximately $6,158,318.23. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Michael J. Embler sold 26,008 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $39.35, for a total value of $1,023,414.80. Following the transaction, the director now owns 61,607 shares of the company’s stock, valued at $2,424,235.45. The disclosure for this sale can be found here. 2.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on NMIH. Compass Point boosted their price objective on NMI from $33.00 to $36.00 and gave the stock a “buy” rating in a research note on Tuesday, May 7th. StockNews.com cut NMI from a “buy” rating to a “hold” rating in a report on Wednesday, August 21st. Keefe, Bruyette & Woods lifted their price objective on shares of NMI from $37.00 to $40.00 and gave the company a “market perform” rating in a research note on Thursday, August 1st. UBS Group cut shares of NMI from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $37.00 to $39.00 in a research report on Wednesday, May 22nd. Finally, JPMorgan Chase & Co. raised their price target on shares of NMI from $40.00 to $42.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, NMI presently has a consensus rating of “Moderate Buy” and an average price target of $40.00.

NMI Stock Up 1.7 %

Shares of NMI stock traded up $0.67 during trading on Friday, reaching $41.07. The company had a trading volume of 485,417 shares, compared to its average volume of 533,760. The company has a market cap of $3.30 billion, a price-to-earnings ratio of 10.00, a price-to-earnings-growth ratio of 0.94 and a beta of 1.09. NMI Holdings, Inc. has a fifty-two week low of $25.62 and a fifty-two week high of $42.01. The firm’s fifty day moving average is $36.89 and its 200-day moving average is $33.27. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.89 and a current ratio of 0.67.

NMI (NASDAQ:NMIH) last announced its quarterly earnings data on Tuesday, July 30th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.15. The firm had revenue of $162.12 million for the quarter, compared to analysts’ expectations of $138.49 million. NMI had a return on equity of 18.29% and a net margin of 56.40%. NMI’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.95 earnings per share. On average, analysts anticipate that NMI Holdings, Inc. will post 4.33 EPS for the current year.

NMI Company 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.