Invesco Ltd. Boosts Holdings in NMI Holdings, Inc. (NASDAQ:NMIH)

Invesco Ltd. raised its stake in shares of NMI Holdings, Inc. (NASDAQ:NMIH) by 15.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 934,044 shares of the financial services provider’s stock after buying an additional 121,774 shares during the period. Invesco Ltd. owned about 1.18% of NMI worth $34,335,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank acquired a new position in NMI in the fourth quarter valued at approximately $13,174,000. Raymond James Financial Inc. acquired a new position in shares of NMI in the 4th quarter valued at $13,136,000. Donald Smith & CO. Inc. boosted its holdings in NMI by 34.8% during the fourth quarter. Donald Smith & CO. Inc. now owns 1,307,868 shares of the financial services provider’s stock worth $48,077,000 after buying an additional 337,996 shares in the last quarter. Barclays PLC grew its position in NMI by 264.4% during the third quarter. Barclays PLC now owns 386,999 shares of the financial services provider’s stock valued at $15,940,000 after buying an additional 280,809 shares during the period. Finally, abrdn plc purchased a new position in NMI in the fourth quarter valued at $8,122,000. Institutional investors and hedge funds own 94.12% of the company’s stock.

Insider Buying and Selling

In other NMI news, EVP Mohammad Nawaz Yousaf sold 1,083 shares of NMI stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $35.44, for a total transaction of $38,381.52. Following the completion of the sale, the executive vice president now directly owns 49,218 shares in the company, valued at $1,744,285.92. This trade represents a 2.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Norman Peter Fitzgerald sold 20,000 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $35.88, for a total value of $717,600.00. Following the transaction, the executive vice president now owns 37,470 shares in the company, valued at $1,344,423.60. This trade represents a 34.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Barclays cut NMI from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $48.00 to $41.00 in a research report on Monday, January 6th. JPMorgan Chase & Co. cut their price objective on NMI from $42.00 to $41.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. UBS Group decreased their target price on NMI from $42.00 to $41.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 19th. Finally, Keefe, Bruyette & Woods cut their price target on shares of NMI from $43.00 to $42.00 and set an “outperform” rating for the company in a report on Tuesday, April 8th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $42.14.

NMI Stock Performance

NMIH opened at $33.43 on Thursday. The company has a current ratio of 0.60, a quick ratio of 0.83 and a debt-to-equity ratio of 0.19. The firm’s 50-day moving average price is $35.22 and its 200 day moving average price is $37.32. NMI Holdings, Inc. has a twelve month low of $29.37 and a twelve month high of $42.49. The firm has a market capitalization of $2.62 billion, a PE ratio of 7.55, a PEG ratio of 1.41 and a beta of 0.62.

NMI (NASDAQ:NMIH) last released its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $1.07 earnings per share for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.07). NMI had a return on equity of 17.33% and a net margin of 55.32%. As a group, sell-side analysts expect that NMI Holdings, Inc. will post 4.62 EPS for the current fiscal 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.