VIRGINIA RETIREMENT SYSTEMS ET Al Makes New $2.61 Million Investment in NMI Holdings Inc $NMIH

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in NMI Holdings Inc (NASDAQ:NMIH) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 61,856 shares of the financial services provider’s stock, valued at approximately $2,610,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned 0.08% of NMI at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Xponance Inc. increased its position in NMI by 5.0% in the first quarter. Xponance Inc. now owns 5,917 shares of the financial services provider’s stock worth $213,000 after buying an additional 281 shares during the period. Covestor Ltd grew its stake in shares of NMI by 15.7% in the first quarter. Covestor Ltd now owns 2,190 shares of the financial services provider’s stock worth $79,000 after purchasing an additional 297 shares in the last quarter. Cetera Investment Advisers grew its stake in shares of NMI by 5.7% in the first quarter. Cetera Investment Advisers now owns 6,347 shares of the financial services provider’s stock worth $229,000 after purchasing an additional 341 shares in the last quarter. Hohimer Wealth Management LLC grew its stake in shares of NMI by 5.6% in the first quarter. Hohimer Wealth Management LLC now owns 6,493 shares of the financial services provider’s stock worth $234,000 after purchasing an additional 344 shares in the last quarter. Finally, Diversified Trust Co grew its stake in shares of NMI by 1.1% in the second quarter. Diversified Trust Co now owns 33,118 shares of the financial services provider’s stock worth $1,397,000 after purchasing an additional 349 shares in the last quarter. 94.12% of the stock is owned by institutional investors and hedge funds.

NMI Trading Up 1.2%

Shares of NMIH stock opened at $36.57 on Wednesday. The stock has a 50-day simple moving average of $38.42 and a 200 day simple moving average of $38.16. NMI Holdings Inc has a fifty-two week low of $31.90 and a fifty-two week high of $43.20. The stock has a market capitalization of $2.84 billion, a P/E ratio of 7.76, a P/E/G ratio of 1.04 and a beta of 0.56. 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 earnings results on Tuesday, July 29th. The financial services provider reported $1.22 earnings per share 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 business had revenue of $149.07 million during the quarter, compared to analysts’ expectations of $173.39 million. During the same quarter last year, the business posted $1.20 earnings per share. The company’s quarterly revenue was up 7.2% on a year-over-year basis. On average, sell-side analysts expect that NMI Holdings Inc will post 4.62 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Steven Scheid sold 19,926 shares of the firm’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $39.31, for a total transaction of $783,291.06. Following the completion of the transaction, the director owned 78,960 shares of the company’s stock, valued at $3,103,917.60. This trade represents a 20.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 3.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on NMIH shares. 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 research note on Monday, July 7th. Weiss Ratings reissued a “buy (b)” rating on shares of NMI in a research note on Wednesday, October 8th. Barclays reissued a “cautious” rating on shares of NMI in a research note on Monday, October 6th. Wall Street Zen cut NMI from a “buy” rating to a “hold” rating in a research note on Saturday, July 12th. Finally, JPMorgan Chase & Co. decreased their target price on NMI from $44.00 to $43.00 and set an “overweight” rating for the company in a research note on Tuesday, October 7th. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $42.33.

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.