Tealwood Asset Management Inc. trimmed its stake in shares of NMI Holdings Inc (NASDAQ:NMIH) by 7.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 122,391 shares of the financial services provider’s stock after selling 9,165 shares during the quarter. NMI accounts for about 1.4% of Tealwood Asset Management Inc.’s holdings, making the stock its 15th largest position. Tealwood Asset Management Inc. owned about 0.18% of NMI worth $3,475,000 as of its most recent filing with the SEC.
Several other large investors also recently added to or reduced their stakes in NMIH. Ellis Investment Partners LLC raised its stake in shares of NMI by 2,203.8% during the 1st quarter. Ellis Investment Partners LLC now owns 1,384,458 shares of the financial services provider’s stock valued at $1,384,000 after purchasing an additional 1,324,364 shares during the period. Eagle Asset Management Inc. bought a new stake in shares of NMI during the 2nd quarter valued at $37,045,000. FMR LLC raised its stake in shares of NMI by 44.8% during the 1st quarter. FMR LLC now owns 2,501,047 shares of the financial services provider’s stock valued at $64,702,000 after purchasing an additional 773,781 shares during the period. Norges Bank bought a new stake in shares of NMI during the 4th quarter valued at $13,216,000. Finally, Victory Capital Management Inc. bought a new stake in shares of NMI during the 1st quarter valued at $5,914,000. Institutional investors own 91.82% of the company’s stock.
A number of analysts recently issued reports on NMIH shares. Zacks Investment Research upgraded NMI from a “hold” rating to a “buy” rating and set a $31.00 price objective on the stock in a research note on Friday, July 26th. Zelman & Associates upgraded NMI from a “hold” rating to a “buy” rating in a research note on Friday, August 2nd. Compass Point reiterated a “buy” rating and set a $33.00 price objective (up from $30.50) on shares of NMI in a research note on Thursday, May 2nd. BTIG Research set a $36.00 price objective on NMI and gave the company a “buy” rating in a research note on Wednesday, July 31st. Finally, B. Riley set a $30.00 target price on NMI and gave the stock a “hold” rating in a research report on Friday, August 2nd. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $30.63.
NMI stock traded up $0.78 during midday trading on Thursday, hitting $28.23. 7,839 shares of the company’s stock were exchanged, compared to its average volume of 542,487. NMI Holdings Inc has a 52-week low of $15.62 and a 52-week high of $31.34. The stock has a 50-day moving average price of $27.10 and a two-hundred day moving average price of $26.66. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.43 and a current ratio of 0.43. The company has a market cap of $1.89 billion, a P/E ratio of 16.87 and a beta of 1.29.
NMI (NASDAQ:NMIH) last posted its earnings results on Wednesday, July 31st. The financial services provider reported $0.59 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.04. NMI had a return on equity of 19.65% and a net margin of 41.31%. The business had revenue of $91.18 million during the quarter, compared to analysts’ expectations of $85.11 million. As a group, sell-side analysts expect that NMI Holdings Inc will post 2.4 earnings per share for the current year.
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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