Aberdeen Group plc Sells 65,092 Shares of NMI Holdings Inc $NMIH

Aberdeen Group plc cut its holdings in shares of NMI Holdings Inc (NASDAQ:NMIH) by 12.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 452,423 shares of the financial services provider’s stock after selling 65,092 shares during the period. Aberdeen Group plc owned approximately 0.58% of NMI worth $19,088,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NMIH. Sound Income Strategies LLC acquired a new stake in shares of NMI in the first quarter valued at about $25,000. Maseco LLP acquired a new stake in shares of NMI during the second quarter worth $32,000. Opal Wealth Advisors LLC acquired a new stake in shares of NMI during the first quarter worth $33,000. Neo Ivy Capital Management bought a new stake in NMI during the first quarter worth $47,000. Finally, Caitong International Asset Management Co. Ltd bought a new stake in NMI during the first quarter worth $48,000. 94.12% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

NMIH has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. decreased their price target on NMI from $44.00 to $43.00 and set an “overweight” rating for the company in a report on Tuesday, October 7th. Barclays reissued a “cautious” rating on shares of NMI in a research report on Monday, October 6th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of NMI in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods cut shares of NMI from an “outperform” rating to a “market perform” rating and raised their price target for the company from $42.00 to $43.00 in a research report on Monday, July 7th. Finally, Wall Street Zen cut shares of NMI from a “buy” rating to a “hold” rating in a research report on Saturday, July 12th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $42.33.

Insiders Place Their Bets

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

NMI Stock Performance

Shares of NASDAQ:NMIH opened at $36.28 on Wednesday. The company has a market cap of $2.81 billion, a price-to-earnings ratio of 7.70, a price-to-earnings-growth ratio of 1.03 and a beta of 0.56. The company has a 50-day moving average price of $38.71 and a 200-day moving average price of $38.16. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.17. NMI Holdings Inc has a 12 month low of $31.90 and a 12 month high of $43.20.

NMI (NASDAQ:NMIH) last issued its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $1.22 EPS for the quarter, beating the consensus estimate of $1.16 by $0.06. NMI had a net margin of 55.57% and a return on equity of 16.51%. The firm had revenue of $149.07 million during the quarter, compared to the consensus estimate of $173.39 million. During the same period in the prior year, the firm posted $1.20 earnings per share. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. As a group, equities analysts anticipate 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.