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MetLife Investment Management LLC reduced its holdings in shares of NMI Holdings Inc (NASDAQ:NMIH – Free Report) by 1.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,340 shares of the financial services provider’s stock after selling 681 shares during the period. MetLife Investment Management LLC’s holdings in NMI were worth $1,671,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently added to or reduced their stakes in the company. Sound Income Strategies LLC acquired a new position in NMI during the 1st quarter valued at about $25,000. Opal Wealth Advisors LLC acquired a new position in NMI during the 1st quarter valued at about $33,000. Neo Ivy Capital Management acquired a new position in NMI during the 1st quarter valued at about $47,000. Caitong International Asset Management Co. Ltd purchased a new stake in NMI during the 1st quarter valued at about $48,000. Finally, GAMMA Investing LLC grew its stake in NMI by 104.2% during the 1st quarter. GAMMA Investing LLC now owns 1,564 shares of the financial services provider’s stock valued at $56,000 after purchasing an additional 798 shares during the last quarter. 94.12% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
NMIH has been the topic of several research analyst reports. JPMorgan Chase & Co. boosted their price target on NMI from $41.00 to $44.00 and gave the company an “overweight” rating in a research note on Friday, July 11th. Barclays boosted their price target on NMI from $41.00 to $42.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 8th. Wall Street Zen downgraded NMI from a “buy” rating to a “hold” rating in a research note on Saturday, July 12th. Keefe, Bruyette & Woods downgraded NMI from an “outperform” rating to a “market perform” rating and boosted their price target for the company from $42.00 to $43.00 in a research note on Monday, July 7th. Finally, Compass Point reiterated a “buy” rating and set a $37.00 price target (up previously from $34.00) on shares of NMI in a research note on Friday, May 23rd. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $42.33.
Read Our Latest Stock Analysis on NMIH
Insider Activity at NMI
In related news, Chairman Bradley M. Shuster sold 21,545 shares of the company’s stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $39.56, for a total value of $852,320.20. Following the completion of the transaction, the chairman owned 409,792 shares of the company’s stock, valued at approximately $16,211,371.52. This represents a 4.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.00% of the stock is owned by insiders.
NMI Stock Down 0.4%
Shares of NMIH opened at $39.20 on Wednesday. NMI Holdings Inc has a 52 week low of $31.90 and a 52 week high of $43.20. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $3.04 billion, a price-to-earnings ratio of 8.32, a PEG ratio of 1.14 and a beta of 0.55. The stock’s 50-day moving average price is $39.36 and its 200-day moving average price is $37.58.
NMI (NASDAQ:NMIH – Get Free Report) last issued its earnings results on Tuesday, July 29th. The financial services provider reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.06. NMI had a return on equity of 16.51% and a net margin of 55.57%.The firm had revenue of $149.07 million for the quarter, compared to the consensus estimate of $173.39 million. During the same quarter in the prior year, the business earned $1.20 earnings per share. The company’s revenue was up 7.2% compared to the same quarter last year. On average, sell-side analysts predict that NMI Holdings Inc will post 4.62 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.
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