JPMorgan Chase & Co. decreased its holdings in shares of NMI Holdings Inc (NASDAQ:NMIH) by 12.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 134,250 shares of the financial services provider’s stock after selling 19,354 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.22% of NMI worth $1,678,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in NMIH. Macquarie Group Ltd. acquired a new stake in shares of NMI during the third quarter worth $113,000. Legal & General Group Plc increased its position in shares of NMI by 8.8% in the second quarter. Legal & General Group Plc now owns 13,003 shares of the financial services provider’s stock worth $149,000 after purchasing an additional 1,047 shares during the period. SG Americas Securities LLC bought a new position in shares of NMI in the third quarter worth $156,000. Hancock Holding Co. increased its position in shares of NMI by 4.3% in the second quarter. Hancock Holding Co. now owns 17,365 shares of the financial services provider’s stock worth $199,000 after purchasing an additional 715 shares during the period. Finally, Fox Run Management L.L.C. bought a new position in shares of NMI in the third quarter worth $200,000. 83.57% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have issued reports on the company. Deutsche Bank cut NMI from a “buy” rating to a “hold” rating and set a $16.00 target price on the stock. in a research report on Friday, November 3rd. ValuEngine cut NMI from a “buy” rating to a “hold” rating in a report on Monday, December 4th. Zacks Investment Research upgraded NMI from a “hold” rating to a “strong-buy” rating and set a $15.00 price target on the stock in a report on Saturday, October 14th. Keefe, Bruyette & Woods restated a “buy” rating and set a $19.50 price target on shares of NMI in a report on Friday, November 3rd. Finally, BTIG Research reaffirmed a “buy” rating and issued a $21.00 price objective (up from $17.00) on shares of NMI in a research note on Wednesday, December 20th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. NMI currently has a consensus rating of “Buy” and an average target price of $18.36.
NMI (NASDAQ:NMIH) last released its quarterly earnings data on Wednesday, November 1st. The financial services provider reported $0.20 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.06. The firm had revenue of $48.95 million during the quarter, compared to the consensus estimate of $45.79 million. NMI had a return on equity of 6.95% and a net margin of 51.80%. The company’s quarterly revenue was up 37.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.10 earnings per share. equities research analysts anticipate that NMI Holdings Inc will post 0.56 EPS for the current year.
In related news, VP Julie Norberg sold 16,600 shares of the company’s stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $16.73, for a total transaction of $277,718.00. Following the completion of the sale, the vice president now owns 32,305 shares in the company, valued at $540,462.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Claudia J. Merkle sold 15,000 shares of the company’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $17.80, for a total value of $267,000.00. The disclosure for this sale can be found here. Insiders have sold 41,600 shares of company stock valued at $714,618 in the last quarter. 5.40% of the stock is currently owned by corporate insiders.
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NMI Holdings, Inc (NMIH) provides private mortgage guaranty insurance through its insurance subsidiaries. The Company’s primary insurance subsidiary, National Mortgage Insurance Corporation (NMIC), is a mortgage insurance (MI) provider on loans purchased by the Government-sponsored enterprises (GSEs).
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