AQR Capital Management LLC Increases Holdings in NMI Holdings Inc $NMIH

AQR Capital Management LLC boosted its stake in shares of NMI Holdings Inc (NASDAQ:NMIH) by 16.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 281,115 shares of the financial services provider’s stock after buying an additional 40,529 shares during the period. AQR Capital Management LLC owned 0.36% of NMI worth $10,134,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Sound Income Strategies LLC purchased a new position in shares of NMI during the 1st quarter worth $25,000. Opal Wealth Advisors LLC purchased a new stake in shares of NMI in the first quarter valued at about $33,000. Neo Ivy Capital Management acquired a new stake in NMI during the first quarter worth about $47,000. Caitong International Asset Management Co. Ltd purchased a new position in NMI during the first quarter worth about $48,000. Finally, Quarry LP boosted its holdings in NMI by 89.3% in the 1st quarter. Quarry LP now owns 1,482 shares of the financial services provider’s stock valued at $53,000 after purchasing an additional 699 shares during the last quarter. 94.12% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on NMIH. Wall Street Zen downgraded shares of NMI from a “buy” rating to a “hold” rating in a report on Saturday, July 12th. JPMorgan Chase & Co. increased their price objective on NMI from $41.00 to $44.00 and gave the stock an “overweight” rating in a research report on Friday, July 11th. Compass Point reissued a “buy” rating and set a $37.00 target price (up previously from $34.00) on shares of NMI in a research note on Friday, May 23rd. Barclays lifted their target price on NMI from $41.00 to $42.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 8th. Finally, Keefe, Bruyette & Woods cut NMI from an “outperform” rating to a “market perform” rating and increased their price target for the stock from $42.00 to $43.00 in a report on Monday, July 7th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $42.33.

NMI Stock Up 0.4%

NASDAQ:NMIH opened at $39.63 on Thursday. NMI Holdings Inc has a 52 week low of $31.90 and a 52 week high of $43.20. The stock’s fifty day moving average is $39.06 and its two-hundred day moving average is $37.75. The stock has a market capitalization of $3.07 billion, a price-to-earnings ratio of 8.41, a price-to-earnings-growth ratio of 1.14 and a beta of 0.55. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.17.

NMI (NASDAQ:NMIH) last posted its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.06. The firm had revenue of $149.07 million for the quarter, compared to the consensus estimate of $173.39 million. NMI had a return on equity of 16.51% and a net margin of 55.57%.The company’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.20 EPS. Research analysts anticipate that NMI Holdings Inc will post 4.62 EPS for the current year.

About NMI

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.