Edgestream Partners L.P. Raises Stock Holdings in NMI Holdings, Inc. (NASDAQ:NMIH)

Edgestream Partners L.P. boosted its holdings in shares of NMI Holdings, Inc. (NASDAQ:NMIH) by 13.1% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 172,794 shares of the financial services provider’s stock after purchasing an additional 20,048 shares during the quarter. Edgestream Partners L.P.’s holdings in NMI were worth $5,882,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. UniSuper Management Pty Ltd bought a new stake in shares of NMI in the first quarter worth $507,000. First Eagle Investment Management LLC increased its position in shares of NMI by 17.6% in the 1st quarter. First Eagle Investment Management LLC now owns 403,019 shares of the financial services provider’s stock worth $13,034,000 after purchasing an additional 60,200 shares during the last quarter. Leuthold Group LLC acquired a new stake in shares of NMI in the 1st quarter valued at about $2,987,000. Norges Bank bought a new position in shares of NMI during the fourth quarter worth about $20,006,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in NMI in the first quarter worth about $532,000. 94.12% of the stock is owned by institutional investors and hedge funds.

Insider Activity at NMI

In other news, insider William J. Leatherberry sold 3,000 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $40.07, for a total value of $120,210.00. Following the completion of the transaction, the insider now owns 153,689 shares of the company’s stock, valued at $6,158,318.23. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other NMI news, Director Michael J. Embler sold 26,008 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $39.35, for a total value of $1,023,414.80. Following the completion of the sale, the director now directly owns 61,607 shares in the company, valued at $2,424,235.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider William J. Leatherberry sold 3,000 shares of NMI stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $40.07, for a total value of $120,210.00. Following the transaction, the insider now owns 153,689 shares in the company, valued at $6,158,318.23. The disclosure for this sale can be found here. 2.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Keefe, Bruyette & Woods upped their price objective on NMI from $37.00 to $40.00 and gave the company a “market perform” rating in a research note on Thursday, August 1st. StockNews.com cut NMI from a “buy” rating to a “hold” rating in a research note on Wednesday, August 21st. UBS Group downgraded shares of NMI from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $37.00 to $39.00 in a report on Wednesday, May 22nd. JPMorgan Chase & Co. increased their target price on shares of NMI from $40.00 to $42.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Finally, Barclays lifted their price target on shares of NMI from $41.00 to $43.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $40.00.

NMI Stock Up 1.6 %

NMI stock opened at $41.73 on Tuesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.67 and a current ratio of 0.67. NMI Holdings, Inc. has a one year low of $25.62 and a one year high of $42.06. The company has a 50-day simple moving average of $38.55 and a 200-day simple moving average of $34.26. The firm has a market capitalization of $3.32 billion, a P/E ratio of 10.33, a P/E/G ratio of 0.89 and a beta of 1.12.

NMI (NASDAQ:NMIH) last posted its earnings results on Tuesday, July 30th. The financial services provider reported $1.20 EPS for the quarter, topping the consensus estimate of $1.05 by $0.15. The firm had revenue of $162.12 million during the quarter, compared to analysts’ expectations of $138.49 million. NMI had a net margin of 56.40% and a return on equity of 18.29%. NMI’s quarterly revenue was up 13.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.95 EPS. As a group, equities analysts expect that NMI Holdings, Inc. will post 4.5 earnings per share 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.