Connor Clark & Lunn Investment Management Ltd. Acquires 28,846 Shares of NMI Holdings Inc (NASDAQ:NMIH)

Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of NMI Holdings Inc (NASDAQ:NMIH) by 65.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 72,759 shares of the financial services provider’s stock after acquiring an additional 28,846 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in NMI were worth $2,623,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Assenagon Asset Management S.A. boosted its stake in shares of NMI by 70.9% during the first quarter. Assenagon Asset Management S.A. now owns 2,034,419 shares of the financial services provider’s stock valued at $73,341,000 after purchasing an additional 844,037 shares during the period. Nuveen Asset Management LLC boosted its stake in shares of NMI by 0.4% during 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 period. Capital World Investors boosted its stake in shares of NMI by 21.1% during the fourth quarter. Capital World Investors now owns 1,150,000 shares of the financial services provider’s stock valued at $42,274,000 after purchasing an additional 200,000 shares during the period. Invesco Ltd. boosted its stake in shares of NMI by 15.0% during the fourth quarter. Invesco Ltd. now owns 934,044 shares of the financial services provider’s stock valued at $34,335,000 after purchasing an additional 121,774 shares during the period. Finally, Northern Trust Corp boosted its stake in shares of NMI by 11.5% during the fourth quarter. Northern Trust Corp now owns 895,877 shares of the financial services provider’s stock valued at $32,932,000 after purchasing an additional 92,597 shares during the period. 94.12% of the stock is currently owned by institutional investors.

NMI Stock Performance

Shares of NMIH stock opened at $39.75 on Friday. The stock has a fifty day moving average of $39.65 and a 200 day moving average of $37.42. NMI Holdings Inc has a 52 week low of $31.90 and a 52 week high of $43.20. The firm has a market capitalization of $3.08 billion, a price-to-earnings ratio of 8.44, a PEG ratio of 1.16 and a beta of 0.57. 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 announced its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $1.22 EPS for the quarter, beating the consensus estimate of $1.16 by $0.06. The business had revenue of $149.07 million during the quarter, compared to analyst estimates of $173.39 million. NMI had a return on equity of 16.51% and a net margin of 55.57%. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.20 earnings per share. As a group, research analysts expect that NMI Holdings Inc will post 4.62 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on NMIH. JPMorgan Chase & Co. increased their price objective on NMI from $41.00 to $44.00 and gave the company an “overweight” rating in a research note on Friday, July 11th. Wall Street Zen lowered NMI from a “buy” rating to a “hold” rating in a research note on Saturday, July 12th. Compass Point reaffirmed a “buy” rating and issued a $37.00 price target (up previously from $34.00) on shares of NMI in a research note on Friday, May 23rd. Barclays raised their price target on NMI from $41.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 8th. Finally, Keefe, Bruyette & Woods lowered NMI from an “outperform” rating to a “market perform” rating and raised their price target for the stock from $42.00 to $43.00 in a research note on Monday, July 7th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $42.33.

Insider Buying and Selling

In other NMI news, Chairman Bradley M. Shuster sold 21,545 shares of the firm’s stock in a transaction on Friday, June 6th. The stock was sold at an average price of $39.56, for a total transaction of $852,320.20. Following the completion of the transaction, the chairman owned 409,792 shares of the company’s stock, valued at approximately $16,211,371.52. This trade represents a 4.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 3.00% of the company’s stock.

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.