Integrated Advisors Network LLC Makes New Investment in NMI Holdings, Inc. (NASDAQ:NMIH)

Integrated Advisors Network LLC purchased a new position in NMI Holdings, Inc. (NASDAQ:NMIH) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,041 shares of the financial services provider’s stock, valued at approximately $326,000.

A number of other hedge funds have also modified their holdings of the company. Assetmark Inc. boosted its position in shares of NMI by 12.6% during the fourth quarter. Assetmark Inc. now owns 88,010 shares of the financial services provider’s stock worth $3,235,000 after acquiring an additional 9,842 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of NMI by 1.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,075,428 shares of the financial services provider’s stock worth $39,533,000 after acquiring an additional 11,347 shares during the last quarter. Bank of America Corp DE boosted its position in shares of NMI by 3.0% during the fourth quarter. Bank of America Corp DE now owns 527,652 shares of the financial services provider’s stock worth $19,396,000 after acquiring an additional 15,273 shares during the last quarter. BNP Paribas Financial Markets boosted its position in shares of NMI by 13.3% during the fourth quarter. BNP Paribas Financial Markets now owns 127,132 shares of the financial services provider’s stock worth $4,673,000 after acquiring an additional 14,908 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its position in shares of NMI by 196.3% during the fourth quarter. New York State Common Retirement Fund now owns 75,013 shares of the financial services provider’s stock worth $2,757,000 after acquiring an additional 49,700 shares during the last quarter. 94.12% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other NMI news, Director Michael Curry Montgomery sold 1,875 shares of the business’s stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $38.05, for a total value of $71,343.75. Following the completion of the sale, the director now directly owns 66,068 shares of the company’s stock, valued at $2,513,887.40. The trade was a 2.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Bradley M. Shuster sold 21,545 shares of the company’s stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $39.56, for a total transaction of $852,320.20. Following the completion of the sale, the chairman now directly owns 409,792 shares of the company’s stock, valued at $16,211,371.52. The trade was a 4.99% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 113,697 shares of company stock valued at $4,210,337. Company insiders own 3.00% of the company’s stock.

Analysts Set New Price Targets

NMIH has been the subject of a number of research reports. Compass Point restated a “buy” rating and set a $37.00 target price (up previously from $34.00) on shares of NMI in a research report on Friday, May 23rd. UBS Group dropped their target price on shares of NMI from $42.00 to $41.00 and set a “neutral” rating for the company in a research report on Wednesday, February 19th. JPMorgan Chase & Co. lowered their price objective on shares of NMI from $42.00 to $41.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Wall Street Zen upgraded shares of NMI from a “hold” rating to a “buy” rating in a research report on Monday, May 5th. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of NMI from $43.00 to $42.00 and set an “outperform” rating for the company in a research report on Tuesday, April 8th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, NMI has a consensus rating of “Moderate Buy” and a consensus price target of $42.29.

NMI Trading Down 0.6%

Shares of NMIH opened at $40.34 on Friday. NMI Holdings, Inc. has a twelve month low of $31.67 and a twelve month high of $42.49. The company has a current ratio of 0.60, a quick ratio of 0.83 and a debt-to-equity ratio of 0.19. The company’s fifty day simple moving average is $36.92 and its 200-day simple moving average is $36.77. The company has a market cap of $3.15 billion, a P/E ratio of 9.11, a P/E/G ratio of 1.41 and a beta of 0.55.

NMI (NASDAQ:NMIH) last released its quarterly earnings results on Tuesday, April 29th. The financial services provider reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.18. NMI had a net margin of 55.32% and a return on equity of 17.33%. The firm had revenue of $173.25 million during the quarter, compared to analysts’ expectations of $169.04 million. During the same period in the previous year, the company earned $1.08 EPS. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. As a group, analysts expect that NMI Holdings, Inc. will post 4.62 EPS for the current year.

About NMI

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.