Donald Smith & CO. Inc. bought a new stake in NMI Holdings Inc (NASDAQ:NMIH – Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 882,495 shares of the financial services provider’s stock, valued at approximately $36,262,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its position in NMI by 20.4% during the 1st quarter. Royal Bank of Canada now owns 117,065 shares of the financial services provider’s stock worth $4,221,000 after acquiring an additional 19,857 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of NMI by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,684 shares of the financial services provider’s stock valued at $1,683,000 after purchasing an additional 2,030 shares during the period. NewEdge Advisors LLC bought a new stake in shares of NMI during the first quarter valued at about $256,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of NMI during the first quarter valued at about $203,000. Finally, Jane Street Group LLC lifted its holdings in NMI by 1,312.9% in the first quarter. Jane Street Group LLC now owns 224,152 shares of the financial services provider’s stock worth $8,081,000 after purchasing an additional 208,287 shares during the period. Institutional investors own 94.12% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities analysts recently issued reports on the stock. Weiss Ratings upgraded shares of NMI from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, June 12th. JPMorgan Chase & Co. upped their price target on shares of NMI from $48.00 to $50.00 and gave the stock an “overweight” rating in a research note on Friday, July 31st. Truist Financial increased their price objective on shares of NMI from $49.00 to $51.00 and gave the company a “buy” rating in a report on Friday, July 31st. Royal Bank Of Canada reiterated an “outperform” rating and set a $53.00 price objective on shares of NMI in a research note on Tuesday, August 4th. Finally, UBS Group set a $46.00 target price on NMI in a report on Friday, May 22nd. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, NMI has an average rating of “Moderate Buy” and an average price target of $48.33.
Insider Activity at NMI
In other news, EVP Aurora Swithenbank sold 11,662 shares of NMI stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $44.51, for a total value of $519,075.62. Following the transaction, the executive vice president owned 50,734 shares of the company’s stock, valued at $2,258,170.34. The trade was a 18.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Robert Owen Smith sold 12,000 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $44.65, for a total transaction of $535,800.00. Following the completion of the sale, the executive vice president owned 96,381 shares in the company, valued at $4,303,411.65. The trade was a 11.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 2.44% of the company’s stock.
NMI Trading Down 0.5%
Shares of NMIH stock opened at $45.16 on Friday. The stock has a 50-day simple moving average of $42.18 and a 200 day simple moving average of $39.71. The stock has a market capitalization of $3.40 billion, a P/E ratio of 8.89, a P/E/G ratio of 1.22 and a beta of 0.54. NMI Holdings Inc has a fifty-two week low of $34.84 and a fifty-two week high of $46.74. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.15.
NMI (NASDAQ:NMIH – Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.38 EPS for the quarter, topping the consensus estimate of $1.28 by $0.10. NMI had a net margin of 54.10% and a return on equity of 15.13%. The firm had revenue of $187.89 million for the quarter, compared to analysts’ expectations of $156.26 million. During the same period in the previous year, the business earned $1.22 earnings per share. NMI’s revenue for the quarter was up 8.1% compared to the same quarter last year. On average, sell-side analysts expect that NMI Holdings Inc will post 5.25 earnings per share for the current fiscal year.
About NMI
NMI Holdings, Inc (NASDAQ: NMIH) is a publicly traded mortgage insurance company that provides private mortgage insurance to lenders across the United States and Canada. Through its principal subsidiary, National Mortgage Insurance Corporation, NMI underwrites and issues policies that protect originators and investors against losses arising from borrower default on residential mortgage loans. By mitigating credit risk on higher‐loan‐to‐value mortgages, the company supports homebuyers’ access to financing and contributes to overall market liquidity.
Beyond its core mortgage insurance products, NMI offers credit risk‐sharing and reinsurance solutions designed to help clients optimize capital utilization and manage portfolio exposure.
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