NMI Holdings, Inc. (NASDAQ:NMIH) Stock Position Raised by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D raised its position in shares of NMI Holdings, Inc. (NASDAQ:NMIH) by 11.9% in the fourth quarter, Holdings Channel reports. The firm owned 55,563 shares of the financial services provider’s stock after buying an additional 5,912 shares during the period. State of New Jersey Common Pension Fund D’s holdings in NMI were worth $2,042,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Principal Securities Inc. raised its stake in shares of NMI by 66.5% during the 4th quarter. Principal Securities Inc. now owns 716 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 286 shares in the last quarter. Entropy Technologies LP raised its stake in shares of NMI by 38.7% during the 4th quarter. Entropy Technologies LP now owns 7,888 shares of the financial services provider’s stock worth $290,000 after purchasing an additional 2,201 shares in the last quarter. abrdn plc purchased a new stake in shares of NMI during the 4th quarter worth about $8,122,000. Financial Strategies Group Inc. raised its stake in shares of NMI by 29.5% during the 4th quarter. Financial Strategies Group Inc. now owns 15,171 shares of the financial services provider’s stock worth $529,000 after purchasing an additional 3,460 shares in the last quarter. Finally, R Squared Ltd purchased a new stake in shares of NMI during the 4th quarter worth about $203,000. 94.12% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Barclays lowered NMI from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $48.00 to $41.00 in a report on Monday, January 6th. UBS Group lowered their price objective on NMI from $42.00 to $41.00 and set a “neutral” rating on the stock in a report on Wednesday. JPMorgan Chase & Co. lowered their price objective on NMI from $46.00 to $41.00 and set an “overweight” rating on the stock in a report on Monday, December 9th. Royal Bank of Canada lowered their price objective on NMI from $48.00 to $47.00 and set an “outperform” rating on the stock in a report on Thursday, November 7th. Finally, Keefe, Bruyette & Woods lowered their price objective on NMI from $44.00 to $43.00 and set a “market perform” rating on the stock in a report on Wednesday, January 8th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $42.29.

NMI Stock Performance

NMIH opened at $34.88 on Friday. The firm has a market capitalization of $2.74 billion, a P/E ratio of 7.87, a price-to-earnings-growth ratio of 1.41 and a beta of 1.12. The stock’s 50 day moving average price is $36.89 and its two-hundred day moving average price is $38.59. The company has a quick ratio of 0.83, a current ratio of 0.60 and a debt-to-equity ratio of 0.19. NMI Holdings, Inc. has a 12-month low of $28.82 and a 12-month high of $42.49.

NMI (NASDAQ:NMIH) last released its earnings results on Wednesday, February 12th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.07). NMI had a net margin of 55.32% and a return on equity of 17.33%. On average, equities analysts forecast that NMI Holdings, Inc. will post 4.62 earnings per share 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.