Smithfield Trust Co Buys 2,131 Shares of NMI Holdings Inc $NMIH

Smithfield Trust Co raised its stake in NMI Holdings Inc (NASDAQ:NMIH) by 955.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,354 shares of the financial services provider’s stock after buying an additional 2,131 shares during the period. Smithfield Trust Co’s holdings in NMI were worth $99,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Nuveen LLC bought a new stake in shares of NMI during the first quarter valued at approximately $44,886,000. Millennium Management LLC raised its position in NMI by 209.9% during the 1st quarter. Millennium Management LLC now owns 1,432,950 shares of the financial services provider’s stock valued at $51,658,000 after purchasing an additional 970,551 shares in the last quarter. Public Sector Pension Investment Board raised its position in NMI by 176.2% during the 1st quarter. Public Sector Pension Investment Board now owns 544,723 shares of the financial services provider’s stock valued at $19,637,000 after purchasing an additional 347,524 shares in the last quarter. Aberdeen Group plc lifted its holdings in shares of NMI by 134.2% in the 1st quarter. Aberdeen Group plc now owns 517,515 shares of the financial services provider’s stock worth $18,656,000 after buying an additional 296,557 shares during the period. Finally, Allianz Asset Management GmbH grew its position in shares of NMI by 76.4% during the 2nd quarter. Allianz Asset Management GmbH now owns 640,158 shares of the financial services provider’s stock worth $27,008,000 after buying an additional 277,318 shares in the last quarter. 94.12% of the stock is owned by hedge funds and other institutional investors.

NMI Stock Performance

Shares of NMI stock opened at $37.22 on Friday. The company has a market capitalization of $2.86 billion, a PE ratio of 7.79, a P/E/G ratio of 1.16 and a beta of 0.63. The company has a 50-day simple moving average of $37.50 and a two-hundred day simple moving average of $38.53. NMI Holdings Inc has a one year low of $31.90 and a one year high of $43.20. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.86 and a current ratio of 0.86.

NMI (NASDAQ:NMIH) last released its quarterly earnings results on Tuesday, November 4th. The financial services provider reported $1.21 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.21. The business had revenue of $171.56 million for the quarter, compared to analysts’ expectations of $177.01 million. NMI had a net margin of 55.02% and a return on equity of 16.08%. The company’s revenue was up 7.6% compared to the same quarter last year. During the same period last year, the business earned $1.15 EPS. Research analysts expect that NMI Holdings Inc will post 4.62 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on NMIH. Barclays restated a “cautious” rating on shares of NMI in a report on Monday, October 6th. JPMorgan Chase & Co. lowered their price target on shares of NMI from $43.00 to $42.00 and set an “overweight” rating for the company in a research report on Wednesday, November 5th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of NMI in a research note on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, NMI currently has an average rating of “Moderate Buy” and a consensus target price of $41.20.

Insiders Place Their Bets

In other NMI news, Director Steven Scheid sold 19,926 shares of NMI stock in a transaction on Monday, September 15th. The shares were sold at an average price of $39.31, for a total value of $783,291.06. Following the transaction, the director directly owned 78,960 shares of the company’s stock, valued at approximately $3,103,917.60. The trade was a 20.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.00% of the stock is currently owned by company insiders.

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.