Financial Strategies Group Inc. Grows Holdings in NMI Holdings Inc $NMIH

Financial Strategies Group Inc. grew its stake in NMI Holdings Inc (NASDAQ:NMIH) by 32.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,036 shares of the financial services provider’s stock after buying an additional 4,865 shares during the period. Financial Strategies Group Inc.’s holdings in NMI were worth $683,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sound Income Strategies LLC purchased a new position in NMI in the 1st quarter worth approximately $25,000. Opal Wealth Advisors LLC purchased a new position in shares of NMI during the 1st quarter valued at about $33,000. Neo Ivy Capital Management purchased a new position in shares of NMI during the 1st quarter valued at about $47,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of NMI during the 1st quarter valued at about $48,000. Finally, Quarry LP raised 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 valued at $53,000 after buying an additional 699 shares in the last quarter. Hedge funds and other institutional investors own 94.12% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on NMIH. Compass Point reissued a “buy” rating and set a $37.00 price objective (up from $34.00) on shares of NMI in a report on Friday, May 23rd. Barclays upped their price objective on shares of NMI from $41.00 to $42.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 8th. Keefe, Bruyette & Woods cut shares of NMI from an “outperform” rating to a “market perform” rating and upped their price objective for the company from $42.00 to $43.00 in a research note on Monday, July 7th. JPMorgan Chase & Co. upped their price objective on shares of NMI from $41.00 to $44.00 and gave the company an “overweight” rating in a research note on Friday, July 11th. Finally, Wall Street Zen cut shares of NMI from a “buy” rating to a “hold” rating in a research note on Saturday, July 12th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.33.

NMI Price Performance

Shares of NMI stock opened at $39.98 on Friday. The stock has a market capitalization of $3.10 billion, a price-to-earnings ratio of 8.49, a price-to-earnings-growth ratio of 1.16 and a beta of 0.55. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.74 and a current ratio of 0.74. The company has a fifty day moving average of $39.23 and a 200-day moving average of $37.67. NMI Holdings Inc has a 52-week low of $31.90 and a 52-week high of $43.20.

NMI (NASDAQ:NMIH) last announced its quarterly 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. The business had revenue of $149.07 million during the quarter, compared to analysts’ expectations of $173.39 million. NMI had a net margin of 55.57% and a return on equity of 16.51%. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.20 EPS. Equities research analysts expect that NMI Holdings Inc will post 4.62 EPS for the current 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.