MetLife Investment Management LLC Reduces Stock Position in NMI Holdings Inc $NMIH

MetLife Investment Management LLC lowered its holdings in shares of NMI Holdings Inc (NASDAQ:NMIH) by 1.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 46,340 shares of the financial services provider’s stock after selling 681 shares during the quarter. MetLife Investment Management LLC owned 0.06% of NMI worth $1,671,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of NMIH. American Century Companies Inc. lifted its holdings in shares of NMI by 9.0% in the 1st quarter. American Century Companies Inc. now owns 2,133,945 shares of the financial services provider’s stock worth $76,929,000 after buying an additional 176,766 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of NMI by 70.9% in the 1st quarter. Assenagon Asset Management S.A. now owns 2,034,419 shares of the financial services provider’s stock worth $73,341,000 after buying an additional 844,037 shares during the period. Nuveen Asset Management LLC lifted its holdings in shares of NMI by 0.4% in the 4th quarter. Nuveen Asset Management LLC now owns 1,290,675 shares of the financial services provider’s stock worth $47,445,000 after buying an additional 4,570 shares during the period. Nuveen LLC purchased a new stake in shares of NMI in the 1st quarter worth $44,886,000. Finally, Northern Trust Corp lifted its holdings in shares of NMI by 11.5% in the 4th quarter. Northern Trust Corp now owns 895,877 shares of the financial services provider’s stock worth $32,932,000 after buying an additional 92,597 shares during the period. Hedge funds and other institutional investors own 94.12% of the company’s stock.

Insider Transactions 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 transaction of $852,320.20. Following the transaction, the chairman directly owned 409,792 shares of the company’s stock, valued at $16,211,371.52. This represents a 4.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 3.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on NMIH shares. Wall Street Zen cut NMI from a “buy” rating to a “hold” rating in a report on Saturday, July 12th. Compass Point reiterated a “buy” rating and issued a $37.00 target price (up from $34.00) on shares of NMI in a report on Friday, May 23rd. Barclays upped their target price on NMI from $41.00 to $42.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 8th. JPMorgan Chase & Co. lifted their price target on NMI from $41.00 to $44.00 and gave the company an “overweight” rating in a report on Friday, July 11th. Finally, Keefe, Bruyette & Woods cut NMI from an “outperform” rating to a “market perform” rating and upped their price objective for the stock from $42.00 to $43.00 in a research note on Monday, July 7th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, NMI currently has an average rating of “Moderate Buy” and an average price target of $42.33.

NMI Price Performance

Shares of NMIH stock opened at $39.20 on Wednesday. NMI Holdings Inc has a 1-year low of $31.90 and a 1-year high of $43.20. The stock’s 50-day moving average is $39.36 and its 200 day moving average is $37.58. The company has a market cap of $3.04 billion, a P/E ratio of 8.32, a PEG ratio of 1.14 and a beta of 0.55. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.74 and a quick ratio of 0.74.

NMI (NASDAQ:NMIH) last issued its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $1.22 earnings per share for the quarter, beating 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 company had revenue of $149.07 million for the quarter, compared to the consensus estimate of $173.39 million. During the same quarter last year, the company earned $1.20 earnings per share. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. Research analysts predict that NMI Holdings Inc will post 4.62 earnings per share for the current fiscal year.

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.