62,842 Shares in NMI Holdings Inc $NMIH Acquired by Pinnacle Holdings LLC

Pinnacle Holdings LLC bought a new position in shares of NMI Holdings Inc (NASDAQ:NMIH) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 62,842 shares of the financial services provider’s stock, valued at approximately $2,582,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Allworth Financial LP grew its position in shares of NMI by 196.0% during the 3rd quarter. Allworth Financial LP now owns 660 shares of the financial services provider’s stock worth $25,000 after buying an additional 437 shares in the last quarter. IFP Advisors Inc boosted its stake in NMI by 189.5% in 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 in the last quarter. Farther Finance Advisors LLC grew its stake in NMI by 161.5% during the 4th quarter. Farther Finance Advisors LLC now owns 1,004 shares of the financial services provider’s stock worth $41,000 after buying an additional 620 shares during the last quarter. Pacer Advisors Inc. grew its stake in NMI by 58.7% during the 1st quarter. Pacer Advisors Inc. now owns 1,006 shares of the financial services provider’s stock worth $38,000 after buying an additional 372 shares during the last quarter. Finally, Bessemer Group Inc. increased its position in NMI by 34.0% during the 1st quarter. Bessemer Group Inc. now owns 1,071 shares of the financial services provider’s stock valued at $40,000 after buying an additional 272 shares in the last quarter. Institutional investors own 94.12% of the company’s stock.

Insider Buying and Selling

In other news, EVP Aurora Swithenbank sold 11,662 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $44.51, for a total transaction of $519,075.62. Following the sale, the executive vice president directly owned 50,734 shares in the company, valued at $2,258,170.34. This trade represents a 18.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Robert Owen Smith sold 12,000 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $44.65, for a total value of $535,800.00. Following the completion of the sale, the executive vice president directly owned 96,381 shares in the company, valued at approximately $4,303,411.65. The trade was a 11.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 2.44% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Truist Financial raised their price target on NMI from $49.00 to $51.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Keefe, Bruyette & Woods restated a “market perform” rating and set a $47.00 price objective on shares of NMI in a report on Monday, August 3rd. JPMorgan Chase & Co. increased their price objective on shares of NMI from $48.00 to $50.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. UBS Group set a $46.00 price objective on shares of NMI in a research report on Friday, May 22nd. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $53.00 target price on shares of NMI in a research note on Tuesday, August 4th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $48.33.

NMI Price Performance

NASDAQ:NMIH opened at $45.16 on Monday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.65 and a quick ratio of 0.65. The company’s fifty day moving average price is $42.18 and its 200-day moving average price is $39.71. NMI Holdings Inc has a 1-year low of $34.84 and a 1-year high of $46.74. The firm has a market capitalization of $3.40 billion, a P/E ratio of 8.89, a PEG ratio of 1.22 and a beta of 0.54.

NMI (NASDAQ:NMIH) last posted its earnings results on Thursday, July 30th. The financial services provider reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.10. NMI had a net margin of 54.10% and a return on equity of 15.13%. The company had revenue of $187.89 million during the quarter, compared to the consensus estimate of $156.26 million. During the same period in the previous year, the firm posted $1.22 earnings per share. The firm’s quarterly revenue was up 8.1% on a year-over-year basis. As a group, equities research analysts anticipate that NMI Holdings Inc will post 5.25 EPS for the current year.

NMI 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.