NMI Holdings Inc $NMIH Stake Raised by Allianz Asset Management GmbH

Allianz Asset Management GmbH increased its holdings in NMI Holdings Inc (NASDAQ:NMIH) by 76.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 640,158 shares of the financial services provider’s stock after acquiring an additional 277,318 shares during the period. Allianz Asset Management GmbH owned about 0.82% of NMI worth $27,008,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Xponance Inc. lifted its stake in NMI by 5.0% in the 1st quarter. Xponance Inc. now owns 5,917 shares of the financial services provider’s stock worth $213,000 after acquiring an additional 281 shares in the last quarter. Covestor Ltd lifted its stake in NMI by 15.7% in the 1st quarter. Covestor Ltd now owns 2,190 shares of the financial services provider’s stock worth $79,000 after acquiring an additional 297 shares in the last quarter. Cetera Investment Advisers lifted its stake in NMI by 5.7% in the 1st quarter. Cetera Investment Advisers now owns 6,347 shares of the financial services provider’s stock worth $229,000 after acquiring an additional 341 shares in the last quarter. Hohimer Wealth Management LLC lifted its stake in NMI by 5.6% in the 1st quarter. Hohimer Wealth Management LLC now owns 6,493 shares of the financial services provider’s stock worth $234,000 after acquiring an additional 344 shares in the last quarter. Finally, Diversified Trust Co raised its stake in shares of NMI by 1.1% during the 2nd 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 hedge funds and other institutional investors.

Analysts Set New Price Targets

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

NMI Stock Performance

Shares of NASDAQ NMIH opened at $35.77 on Friday. 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 firm has a market cap of $2.77 billion, a price-to-earnings ratio of 7.59, a P/E/G ratio of 1.03 and a beta of 0.56. The business’s 50-day simple moving average is $38.54 and its 200-day simple moving average is $38.14. NMI Holdings Inc has a 52 week low of $31.90 and a 52 week 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 analysts’ consensus estimates of $1.16 by $0.06. The business had revenue of $149.07 million for the quarter, compared to analyst estimates of $173.39 million. NMI had a return on equity of 16.51% and a net margin of 55.57%.The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.20 EPS. As a group, equities research analysts expect that NMI Holdings Inc will post 4.62 earnings per share for the current fiscal year.

Insider Transactions at NMI

In other NMI news, Director Steven Scheid sold 19,926 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $39.31, for a total value of $783,291.06. Following the sale, 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 position. The transaction was disclosed in a filing with the SEC, which is available through this link. 3.00% of the stock is owned by company 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.