Los Angeles Capital Management LLC Sells 13,641 Shares of NMI Holdings, Inc. (NASDAQ:NMIH)

Los Angeles Capital Management LLC lessened its stake in shares of NMI Holdings, Inc. (NASDAQ:NMIH) by 17.1% during the fourth quarter, Holdings Channel reports. The fund owned 65,928 shares of the financial services provider’s stock after selling 13,641 shares during the quarter. Los Angeles Capital Management LLC’s holdings in NMI were worth $1,957,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Raymond James & Associates boosted its holdings in NMI by 4.5% in the third quarter. Raymond James & Associates now owns 120,880 shares of the financial services provider’s stock worth $3,275,000 after acquiring an additional 5,212 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in NMI by 15.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,029 shares of the financial services provider’s stock valued at $488,000 after purchasing an additional 2,447 shares during the period. Assetmark Inc. increased its stake in NMI by 17,540.3% during the 3rd quarter. Assetmark Inc. now owns 65,622 shares of the financial services provider’s stock valued at $1,778,000 after purchasing an additional 65,250 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in NMI by 33.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 9,677 shares of the financial services provider’s stock worth $262,000 after buying an additional 2,421 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. acquired a new position in shares of NMI during the third quarter valued at about $211,000. 94.12% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Truist Financial upped their target price on shares of NMI from $36.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Royal Bank of Canada lifted their target price on NMI from $31.00 to $33.00 and gave the company a “sector perform” rating in a research report on Thursday, February 15th. JPMorgan Chase & Co. upped their price target on NMI from $35.00 to $36.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Keefe, Bruyette & Woods raised their price objective on NMI from $33.00 to $36.00 and gave the company a “market perform” rating in a research note on Thursday, April 4th. Finally, Compass Point upped their target price on shares of NMI from $33.00 to $36.00 and gave the stock a “buy” rating in a research note on Tuesday. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $35.22.

NMI Price Performance

Shares of NASDAQ:NMIH opened at $33.66 on Wednesday. NMI Holdings, Inc. has a fifty-two week low of $23.63 and a fifty-two week high of $33.97. The company’s 50-day moving average is $30.74 and its 200 day moving average is $29.63. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.89 and a current ratio of 0.89. The company has a market capitalization of $2.70 billion, a P/E ratio of 8.33, a price-to-earnings-growth ratio of 1.17 and a beta of 1.06.

NMI (NASDAQ:NMIH) last released its earnings results on Tuesday, April 30th. The financial services provider reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.12. NMI had a net margin of 56.26% and a return on equity of 18.09%. The firm had revenue of $156.25 million for the quarter, compared to analysts’ expectations of $133.76 million. During the same period in the previous year, the company earned $0.88 earnings per share. The company’s quarterly revenue was up 14.2% on a year-over-year basis. On average, equities research analysts forecast that NMI Holdings, Inc. will post 4.18 earnings per share for the current year.

Insider Activity at NMI

In other NMI news, VP Nicholas Daniel Realmuto sold 1,249 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $30.23, for a total value of $37,757.27. Following the completion of the sale, the vice president now directly owns 10,455 shares of the company’s stock, valued at $316,054.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Chairman Bradley M. Shuster sold 6,559 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $29.81, for a total transaction of $195,523.79. Following the sale, the chairman now owns 453,298 shares of the company’s stock, valued at approximately $13,512,813.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Nicholas Daniel Realmuto sold 1,249 shares of the business’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $30.23, for a total value of $37,757.27. Following the transaction, the vice president now owns 10,455 shares of the company’s stock, valued at $316,054.65. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 145,158 shares of company stock worth $4,395,582. Insiders own 2.40% of the company’s stock.

NMI 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.