Connor Clark & Lunn Investment Management Ltd. Sells 9,984 Shares of NMI Holdings, Inc. (NASDAQ:NMIH)

Connor Clark & Lunn Investment Management Ltd. trimmed its position in shares of NMI Holdings, Inc. (NASDAQ:NMIH) by 18.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,913 shares of the financial services provider’s stock after selling 9,984 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.06% of NMI worth $1,614,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp lifted its holdings in NMI by 1.0% during the third quarter. State Street Corp now owns 3,565,348 shares of the financial services provider’s stock worth $146,857,000 after acquiring an additional 35,351 shares in the last quarter. FMR LLC lifted its holdings in shares of NMI by 7.6% during the 3rd quarter. FMR LLC now owns 1,517,092 shares of the financial services provider’s stock valued at $62,489,000 after purchasing an additional 107,771 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of NMI by 1.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,075,428 shares of the financial services provider’s stock valued at $39,533,000 after purchasing an additional 11,347 shares during the period. JPMorgan Chase & Co. increased its stake in NMI by 3.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 775,804 shares of the financial services provider’s stock worth $31,955,000 after purchasing an additional 24,838 shares in the last quarter. Finally, Principal Financial Group Inc. raised its holdings in NMI by 3.6% during the 4th quarter. Principal Financial Group Inc. now owns 452,264 shares of the financial services provider’s stock worth $16,625,000 after buying an additional 15,868 shares during the period. 94.12% of the stock is owned by institutional investors.

Insider Activity at NMI

In related news, EVP Norman Peter Fitzgerald sold 20,000 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $35.88, for a total value of $717,600.00. Following the completion of the sale, the executive vice president now directly owns 37,470 shares in the company, valued at approximately $1,344,423.60. This trade represents a 34.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Mohammad Nawaz Yousaf sold 1,083 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The stock was 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 in the company, valued at approximately $1,744,285.92. This trade represents a 2.15 % decrease in their position. The disclosure for this sale can be found here. 2.40% of the stock is owned by company insiders.

Analyst Ratings Changes

NMIH has been the subject of several research reports. JPMorgan Chase & Co. lowered their price objective on shares of NMI from $46.00 to $41.00 and set an “overweight” rating for the company in a research report on Monday, December 9th. UBS Group lowered their target price on NMI from $42.00 to $41.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th. Barclays lowered NMI from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $48.00 to $41.00 in a report on Monday, January 6th. Finally, Keefe, Bruyette & Woods raised NMI from a “market perform” rating to an “outperform” rating and set a $43.00 price objective for the company in a research report on Monday, February 24th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $42.29.

NMI Price Performance

Shares of NASDAQ NMIH opened at $35.42 on Thursday. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.60 and a quick ratio of 0.83. The business has a 50-day moving average of $36.44 and a 200-day moving average of $38.19. The stock has a market capitalization of $2.78 billion, a price-to-earnings ratio of 8.00, a PEG ratio of 1.41 and a beta of 1.02. NMI Holdings, Inc. has a fifty-two week low of $29.05 and a fifty-two week high of $42.49.

NMI (NASDAQ:NMIH) last posted its quarterly 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 net margin of 55.32% and a return on equity of 17.33%. As a group, sell-side analysts predict that NMI Holdings, Inc. will post 4.62 earnings per share for the current fiscal year.

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.