Allianz Asset Management GmbH Has $27.01 Million Stock Position in NMI Holdings Inc $NMIH

Allianz Asset Management GmbH lifted its position in shares of NMI Holdings Inc (NASDAQ:NMIH) by 76.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 640,158 shares of the financial services provider’s stock after purchasing an additional 277,318 shares during the quarter. Allianz Asset Management GmbH’s holdings in NMI were worth $27,008,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Maseco LLP acquired a new stake in shares of NMI during the 2nd quarter worth approximately $32,000. Neo Ivy Capital Management acquired a new stake in shares of NMI during the 1st quarter worth approximately $47,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of NMI during the 1st quarter worth approximately $48,000. Quarry LP grew its holdings in shares of NMI by 89.3% during the 1st quarter. Quarry LP now owns 1,482 shares of the financial services provider’s stock worth $53,000 after purchasing an additional 699 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of NMI by 104.2% during the 1st quarter. GAMMA Investing LLC now owns 1,564 shares of the financial services provider’s stock worth $56,000 after purchasing an additional 798 shares in the last quarter. Institutional investors and hedge funds own 94.12% of the company’s stock.

Wall Street Analyst Weigh In

NMIH has been the topic of several recent research reports. JPMorgan Chase & Co. decreased their price objective on NMI from $44.00 to $43.00 and set an “overweight” rating on the stock in a report on Tuesday, October 7th. Keefe, Bruyette & Woods downgraded NMI from an “outperform” rating to a “market perform” rating and raised their target price for the stock from $42.00 to $43.00 in a research report on Monday, July 7th. Wall Street Zen downgraded NMI from a “buy” rating to a “hold” rating in a research report on Saturday, July 12th. Barclays restated a “cautious” rating on shares of NMI in a research report on Monday, October 6th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of NMI in a research report on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, NMI currently has an average rating of “Moderate Buy” and an average price target of $42.33.

Insider Activity at NMI

In other news, Director Steven Scheid sold 19,926 shares of NMI stock in a transaction on Monday, September 15th. The stock was sold at an average price of $39.31, for a total value of $783,291.06. Following the completion of the sale, the director directly owned 78,960 shares of the company’s stock, valued at approximately $3,103,917.60. This trade represents a 20.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 3.00% of the company’s stock.

NMI Trading Up 1.2%

Shares of NMIH opened at $35.77 on Friday. The stock has a fifty day moving average price of $38.54 and a two-hundred day moving average price of $38.14. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.74 and a current ratio of 0.74. NMI Holdings Inc has a 52-week low of $31.90 and a 52-week high of $43.20. The company has a market cap of $2.77 billion, a price-to-earnings ratio of 7.59, a PEG ratio of 1.03 and a beta of 0.56.

NMI (NASDAQ:NMIH) last issued 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. NMI had a return on equity of 16.51% and a net margin of 55.57%.The firm had revenue of $149.07 million during the quarter, compared to the consensus estimate of $173.39 million. During the same quarter in the previous year, the company posted $1.20 EPS. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. Analysts predict that NMI Holdings Inc will post 4.62 EPS 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.