Legal & General Group Plc Sells 5,609 Shares of NMI Holdings, Inc. (NASDAQ:NMIH)

Legal & General Group Plc reduced its holdings in NMI Holdings, Inc. (NASDAQ:NMIH) by 2.4% in the 4th quarter, Holdings Channel reports. The fund owned 232,040 shares of the financial services provider’s stock after selling 5,609 shares during the quarter. Legal & General Group Plc’s holdings in NMI were worth $8,530,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Principal Securities Inc. increased its stake in NMI by 66.5% during the 4th quarter. Principal Securities Inc. now owns 716 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 286 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of NMI by 288.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,868 shares of the financial services provider’s stock valued at $69,000 after buying an additional 1,387 shares during the period. KBC Group NV increased its position in shares of NMI by 38.3% during the fourth quarter. KBC Group NV now owns 3,221 shares of the financial services provider’s stock worth $118,000 after acquiring an additional 892 shares in the last quarter. R Squared Ltd acquired a new stake in shares of NMI during the fourth quarter worth $203,000. Finally, AXQ Capital LP bought a new stake in NMI in the 4th quarter valued at $207,000. Institutional investors and hedge funds own 94.12% of the company’s stock.

NMI Stock Up 0.7 %

NASDAQ:NMIH opened at $33.68 on Friday. NMI Holdings, Inc. has a twelve month low of $29.51 and a twelve month high of $42.49. The firm has a market capitalization of $2.64 billion, a price-to-earnings ratio of 7.60, a price-to-earnings-growth ratio of 1.41 and a beta of 0.62. The company has a quick ratio of 0.83, a current ratio of 0.60 and a debt-to-equity ratio of 0.19. The stock’s 50 day moving average price is $35.12 and its two-hundred day moving average price is $37.22.

NMI (NASDAQ:NMIH) last issued its earnings results on Wednesday, February 12th. The financial services provider reported $1.07 earnings per share for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.07). NMI had a return on equity of 17.33% and a net margin of 55.32%. Equities research analysts expect that NMI Holdings, Inc. will post 4.62 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have issued reports on the company. JPMorgan Chase & Co. dropped their price target on NMI from $42.00 to $41.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. UBS Group dropped their target price on NMI from $42.00 to $41.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 19th. Barclays downgraded NMI from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $48.00 to $41.00 in a research report on Monday, January 6th. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of NMI from $43.00 to $42.00 and set an “outperform” rating on the stock in a report on Tuesday, April 8th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $42.14.

Insider Activity

In other news, EVP Mohammad Nawaz Yousaf sold 1,083 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $35.44, for a total value of $38,381.52. Following the transaction, the executive vice president now directly owns 49,218 shares of the company’s stock, valued at $1,744,285.92. This represents a 2.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Norman Peter Fitzgerald sold 20,000 shares of NMI stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $35.88, for a total transaction of $717,600.00. Following the sale, the executive vice president now directly owns 37,470 shares of the company’s stock, valued at $1,344,423.60. The trade was a 34.80 % decrease in their position. The disclosure for this sale can be found here. 3.00% of the stock is owned by 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.