NMI Holdings, Inc. (NASDAQ:NMIH) Position Raised by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC raised its stake in NMI Holdings, Inc. (NASDAQ:NMIH) by 5.7% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 6,051 shares of the financial services provider’s stock after buying an additional 325 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in NMI were worth $222,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Principal Securities Inc. raised its stake in shares of NMI by 66.5% during the fourth quarter. Principal Securities Inc. now owns 716 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 286 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in shares of NMI by 288.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,868 shares of the financial services provider’s stock valued at $69,000 after purchasing an additional 1,387 shares in the last quarter. Covestor Ltd raised its stake in shares of NMI by 601.1% during the fourth quarter. Covestor Ltd now owns 1,893 shares of the financial services provider’s stock valued at $70,000 after purchasing an additional 1,623 shares in the last quarter. Sterling Capital Management LLC raised its stake in shares of NMI by 786.1% during the fourth quarter. Sterling Capital Management LLC now owns 2,295 shares of the financial services provider’s stock valued at $84,000 after purchasing an additional 2,036 shares in the last quarter. Finally, Virtus Fund Advisers LLC raised its stake in shares of NMI by 43.7% during the fourth quarter. Virtus Fund Advisers LLC now owns 3,714 shares of the financial services provider’s stock valued at $137,000 after purchasing an additional 1,129 shares in the last quarter. 94.12% of the stock is currently owned by institutional investors.

NMI Price Performance

NASDAQ:NMIH opened at $40.69 on Tuesday. The business’s 50-day moving average price is $37.07 and its 200 day moving average price is $36.75. The firm has a market cap of $3.18 billion, a P/E ratio of 9.19, a PEG ratio of 1.41 and a beta of 0.55. NMI Holdings, Inc. has a 52-week low of $31.67 and a 52-week high of $42.49. The company has a quick ratio of 0.83, a current ratio of 0.60 and a debt-to-equity ratio of 0.19.

NMI (NASDAQ:NMIH) last issued its quarterly earnings results on Tuesday, April 29th. The financial services provider reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.18. The firm had revenue of $173.25 million for the quarter, compared to analysts’ expectations of $169.04 million. NMI had a return on equity of 17.33% and a net margin of 55.32%. NMI’s revenue was up 10.8% on a year-over-year basis. During the same quarter last year, the business posted $1.08 EPS. As a group, sell-side analysts predict that NMI Holdings, Inc. will post 4.62 earnings per share for the current fiscal year.

Insider Buying and Selling

In other NMI news, EVP Robert Owen Smith sold 20,000 shares of NMI stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $36.58, for a total transaction of $731,600.00. Following the transaction, the executive vice president now owns 84,566 shares of the company’s stock, valued at $3,093,424.28. The trade was a 19.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider William J. Leatherberry sold 13,111 shares of NMI stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $35.56, for a total value of $466,227.16. Following the transaction, the insider now directly owns 163,796 shares in the company, valued at approximately $5,824,585.76. This trade represents a 7.41% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 113,697 shares of company stock valued at $4,210,337. 3.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

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

NMI 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.