NMI Holdings Inc (NASDAQ:NMIH) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its position in shares of NMI Holdings Inc (NASDAQ:NMIH) by 3.4% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 557,054 shares of the financial services provider’s stock after selling 19,749 shares during the period. Bank of New York Mellon Corp’s holdings in NMI were worth $20,082,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in NMI by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 7,158,877 shares of the financial services provider’s stock worth $263,160,000 after acquiring an additional 39,503 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of NMI by 70.9% during 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 purchasing an additional 844,037 shares during the last quarter. American Century Companies Inc. grew its position in shares of NMI by 8.0% in the fourth quarter. American Century Companies Inc. now owns 1,957,179 shares of the financial services provider’s stock valued at $71,946,000 after purchasing an additional 145,591 shares in the last quarter. Donald Smith & CO. Inc. grew its position in shares of NMI by 34.8% in the fourth quarter. Donald Smith & CO. Inc. now owns 1,307,868 shares of the financial services provider’s stock valued at $48,077,000 after purchasing an additional 337,996 shares in the last quarter. Finally, Nuveen Asset Management LLC increased its holdings in shares of NMI by 0.4% in the fourth quarter. Nuveen Asset Management LLC now owns 1,290,675 shares of the financial services provider’s stock valued at $47,445,000 after purchasing an additional 4,570 shares during the last quarter. Institutional investors and hedge funds own 94.12% of the company’s stock.

Insider Transactions at NMI

In related news, EVP Robert Owen Smith sold 20,000 shares of the stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $36.58, for a total transaction of $731,600.00. Following the completion of the transaction, the executive vice president owned 84,566 shares of the company’s stock, valued at approximately $3,093,424.28. This trade represents a 19.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Bradley M. Shuster sold 21,545 shares of NMI stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $39.56, for a total transaction of $852,320.20. Following the completion of the sale, the chairman owned 409,792 shares of the company’s stock, valued at $16,211,371.52. This trade represents a 4.99% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 113,697 shares of company stock worth $4,210,337. 3.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

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

NMI Stock Performance

NASDAQ NMIH opened at $38.01 on Friday. The stock has a fifty day simple moving average of $39.73 and a 200-day simple moving average of $37.21. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.18. The stock has a market cap of $2.97 billion, a PE ratio of 8.21, a P/E/G ratio of 1.16 and a beta of 0.55. NMI Holdings Inc has a twelve month low of $31.90 and a twelve month high of $43.20.

NMI (NASDAQ:NMIH) last posted its earnings results on Tuesday, April 29th. The financial services provider reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.18. NMI had a net margin of 55.93% and a return on equity of 17.27%. The company had revenue of $173.25 million for the quarter, compared to analysts’ expectations of $169.04 million. During the same quarter in the prior year, the company posted $1.08 earnings per share. NMI’s revenue for the quarter was up 10.8% compared to the same quarter last year. Equities analysts anticipate 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.