Point72 Asset Management L.P. Takes Position in NMI Holdings Inc (NMIH)

Point72 Asset Management L.P. acquired a new stake in NMI Holdings Inc (NASDAQ:NMIH) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 31,600 shares of the financial services provider’s stock, valued at approximately $515,000.

Other large investors have also recently modified their holdings of the company. Wells Fargo & Company MN raised its position in shares of NMI by 2.6% during the 1st quarter. Wells Fargo & Company MN now owns 379,769 shares of the financial services provider’s stock worth $6,285,000 after buying an additional 9,590 shares in the last quarter. Rhumbline Advisers raised its position in shares of NMI by 8.4% during the 1st quarter. Rhumbline Advisers now owns 134,416 shares of the financial services provider’s stock worth $2,225,000 after buying an additional 10,450 shares in the last quarter. Comerica Bank raised its position in shares of NMI by 10.5% during the 1st quarter. Comerica Bank now owns 60,716 shares of the financial services provider’s stock worth $850,000 after buying an additional 5,758 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of NMI during the 1st quarter worth about $159,000. Finally, Prudential Financial Inc. raised its position in shares of NMI by 8.7% during the 1st quarter. Prudential Financial Inc. now owns 94,315 shares of the financial services provider’s stock worth $1,561,000 after buying an additional 7,585 shares in the last quarter. Hedge funds and other institutional investors own 90.50% of the company’s stock.

In other news, Director James G. Jones sold 18,000 shares of NMI stock in a transaction that occurred on Wednesday, August 22nd. The shares were sold at an average price of $22.14, for a total value of $398,520.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP William J. Leatherberry sold 25,000 shares of NMI stock in a transaction that occurred on Friday, August 24th. The stock was sold at an average price of $22.26, for a total transaction of $556,500.00. Following the completion of the transaction, the executive vice president now directly owns 172,374 shares in the company, valued at $3,837,045.24. The disclosure for this sale can be found here. Over the last three months, insiders sold 438,220 shares of company stock worth $9,503,491. 5.70% of the stock is currently owned by insiders.

Several brokerages have recently issued reports on NMIH. BidaskClub cut shares of NMI from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 20th. Zacks Investment Research cut shares of NMI from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 18th. Barclays began coverage on shares of NMI in a research note on Monday, September 10th. They issued an “overweight” rating and a $28.00 price objective on the stock. B. Riley lifted their price objective on shares of NMI from $20.00 to $26.00 and gave the stock a “buy” rating in a research note on Tuesday, August 7th. Finally, Keefe, Bruyette & Woods cut shares of NMI from an “outperform” rating to a “market perform” rating and set a $23.50 price objective on the stock. in a research note on Monday, August 6th. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $22.85.

Shares of NMIH opened at $20.78 on Tuesday. The company has a market capitalization of $1.49 billion, a PE ratio of 35.95 and a beta of 1.11. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.27 and a current ratio of 0.27. NMI Holdings Inc has a 12-month low of $11.95 and a 12-month high of $24.50.

NMI (NASDAQ:NMIH) last released its earnings results on Wednesday, August 1st. The financial services provider reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.05. The business had revenue of $67.45 million for the quarter. NMI had a net margin of 25.23% and a return on equity of 13.46%. As a group, research analysts forecast that NMI Holdings Inc will post 1.55 EPS for the current fiscal year.

NMI Company Profile

NMI Holdings, Inc, through its subsidiaries, provides private mortgage guaranty insurance services in the United States. The company offers mortgage insurance; reinsurance on loans; 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.

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Institutional Ownership by Quarter for NMI (NASDAQ:NMIH)

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