Louisiana State Employees Retirement System Grows Holdings in NMI Holdings Inc (NMIH)

Louisiana State Employees Retirement System raised its holdings in shares of NMI Holdings Inc (NASDAQ:NMIH) by 11.1% in the 3rd quarter, Holdings Channel reports. The firm owned 29,000 shares of the financial services provider’s stock after buying an additional 2,900 shares during the quarter. Louisiana State Employees Retirement System’s holdings in NMI were worth $657,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Glen Harbor Capital Management LLC lifted its position in NMI by 70.0% during the second quarter. Glen Harbor Capital Management LLC now owns 6,358 shares of the financial services provider’s stock valued at $104,000 after purchasing an additional 2,618 shares during the last quarter. Itau Unibanco Holding S.A. bought a new position in NMI during the second quarter valued at $129,000. Kessler Investment Group LLC bought a new position in NMI during the second quarter valued at $133,000. Nisa Investment Advisors LLC bought a new position in NMI during the second quarter valued at $144,000. Finally, Meadow Creek Investment Management LLC lifted its position in NMI by 70.0% during the second quarter. Meadow Creek Investment Management LLC now owns 9,826 shares of the financial services provider’s stock valued at $160,000 after purchasing an additional 4,046 shares during the last quarter. Institutional investors and hedge funds own 90.48% of the company’s stock.

NMIH has been the subject of several research reports. Compass Point reiterated a “buy” rating and set a $24.00 price objective on shares of NMI in a research report on Thursday, August 2nd. Zacks Investment Research lowered shares of NMI from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 4th. BidaskClub upgraded shares of NMI from a “hold” rating to a “buy” rating in a report on Friday, July 20th. Keefe, Bruyette & Woods lowered shares of NMI from an “outperform” rating to a “market perform” rating and set a $23.50 target price for the company. in a report on Monday, August 6th. Finally, Susquehanna Bancshares raised their target price on shares of NMI from $21.00 to $24.00 and gave the stock a “buy” rating in a report on Thursday, August 2nd. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. NMI currently has a consensus rating of “Buy” and an average price target of $23.61.

In other news, CEO Bradley M. Shuster sold 83,184 shares of the firm’s stock in a transaction dated Tuesday, September 18th. The shares were sold at an average price of $22.23, for a total value of $1,849,180.32. Following the completion of the sale, the chief executive officer now owns 643,056 shares in the company, valued at approximately $14,295,134.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Adam Pollitzer sold 22,564 shares of the firm’s stock in a transaction dated Thursday, August 23rd. The stock was sold at an average price of $22.12, for a total transaction of $499,115.68. The disclosure for this sale can be found here. Insiders sold a total of 438,220 shares of company stock valued at $9,503,491 in the last 90 days. Company insiders own 5.70% of the company’s stock.

NMI stock opened at $19.50 on Friday. The stock has a market capitalization of $1.33 billion, a PE ratio of 34.21 and a beta of 1.11. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.27 and a quick ratio of 0.27. NMI Holdings Inc has a 12-month low of $13.35 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 (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.05. The firm had revenue of $67.45 million during the quarter. NMI had a net margin of 25.23% and a return on equity of 13.46%. Research analysts forecast that NMI Holdings Inc will post 1.55 EPS for the current year.

NMI 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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