NMI Holdings Inc $NMIH Stock: State of Alaska Department of Revenue Cuts Stake

State of Alaska Department of Revenue cut its position in NMI Holdings Inc (NASDAQ:NMIH) by 45.4% during the 3rd quarter, HoldingsChannel reports. The firm owned 15,538 shares of the financial services provider’s stock after selling 12,929 shares during the quarter. State of Alaska Department of Revenue’s holdings in NMI were worth $579,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NMIH. WINTON GROUP Ltd grew its position in NMI by 96.0% in the 2nd quarter. WINTON GROUP Ltd now owns 24,747 shares of the financial services provider’s stock worth $1,017,000 after purchasing an additional 12,120 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new stake in shares of NMI in the second quarter valued at approximately $122,000. NewEdge Advisors LLC raised its holdings in shares of NMI by 7.5% during the second quarter. NewEdge Advisors LLC now owns 18,050 shares of the financial services provider’s stock valued at $742,000 after buying an additional 1,252 shares during the last quarter. Allworth Financial LP raised its holdings in shares of NMI by 44.3% during the second quarter. Allworth Financial LP now owns 2,184 shares of the financial services provider’s stock valued at $90,000 after buying an additional 670 shares during the last quarter. Finally, Nykredit A S bought a new stake in shares of NMI during the second quarter valued at approximately $31,000. 94.12% of the stock is owned by institutional investors and hedge funds.

NMI Stock Performance

NMIH stock opened at $42.55 on Friday. The company has a market capitalization of $3.20 billion, a P/E ratio of 8.38, a PEG ratio of 1.35 and a beta of 0.56. The company has a 50-day simple moving average of $42.53 and a 200 day simple moving average of $40.83. NMI Holdings Inc has a fifty-two week low of $34.84 and a fifty-two week high of $46.74. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.15.

NMI (NASDAQ:NMIH) last announced its earnings results on Thursday, July 30th. The financial services provider reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.10. The firm had revenue of $187.89 million during the quarter, compared to analyst estimates of $156.26 million. NMI had a net margin of 54.10% and a return on equity of 15.13%. NMI’s revenue was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.22 EPS. Sell-side analysts predict that NMI Holdings Inc will post 5.26 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on NMIH shares. Truist Financial boosted their price objective on NMI from $49.00 to $51.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. BTIG Research began coverage on NMI in a research report on Tuesday, September 22nd. They issued a “buy” rating and a $54.00 target price on the stock. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $47.00 target price on shares of NMI in a research report on Monday, August 3rd. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $53.00 target price on shares of NMI in a research note on Tuesday, August 4th. Finally, Weiss Ratings upgraded NMI from a “buy (b)” rating to a “buy (b+)” rating in a research report on Monday. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $48.43.

Insider Transactions at NMI

In other news, EVP Robert Smith sold 12,000 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $44.65, for a total value of $535,800.00. Following the completion of the sale, the executive vice president directly owned 96,381 shares of the company’s stock, valued at approximately $4,303,411.65. This represents a 11.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Adam Pollitzer sold 172,706 shares of the stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $44.85, for a total transaction of $7,745,864.10. Following the completion of the transaction, the chief executive officer owned 270,267 shares of the company’s stock, valued at $12,121,474.95. This trade represents a 38.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 196,368 shares of company stock valued at $8,800,740. Company insiders own 2.44% of the company’s stock.

NMI Company Profile

NMI Holdings, Inc (NASDAQ: NMIH) is the parent company of National MI, a U.S.-based provider of private mortgage insurance. Through its insurance subsidiaries, the company helps lenders manage the risk associated with residential mortgage loans, particularly loans made to borrowers with down payments below traditional thresholds.

National MI primarily offers private mortgage insurance for residential purchase and refinance transactions. Its products are designed for mortgage lenders, banks, credit unions and other housing-finance institutions, helping them expand access to homeownership while transferring a portion of potential credit risk.