Assenagon Asset Management S.A. Purchases 844,037 Shares of NMI Holdings, Inc. (NASDAQ:NMIH)

Assenagon Asset Management S.A. grew its position in shares of NMI Holdings, Inc. (NASDAQ:NMIH) by 70.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,034,419 shares of the financial services provider’s stock after acquiring an additional 844,037 shares during the quarter. Assenagon Asset Management S.A. owned 2.60% of NMI worth $73,341,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of NMI during the 4th quarter worth approximately $13,174,000. Raymond James Financial Inc. purchased a new stake in shares of NMI during the 4th quarter valued at approximately $13,136,000. Donald Smith & CO. Inc. boosted its holdings in NMI by 34.8% in the 4th quarter. Donald Smith & CO. Inc. now owns 1,307,868 shares of the financial services provider’s stock worth $48,077,000 after buying an additional 337,996 shares during the period. Capital World Investors lifted its position in shares of NMI by 21.1% during the fourth quarter. Capital World Investors now owns 1,150,000 shares of the financial services provider’s stock worth $42,274,000 after acquiring an additional 200,000 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of NMI by 25.3% in the fourth quarter. JPMorgan Chase & Co. now owns 971,863 shares of the financial services provider’s stock worth $35,726,000 after acquiring an additional 196,059 shares during the period. 94.12% of the stock is owned by hedge funds and other institutional investors.

NMI Trading Up 2.5%

Shares of NMIH opened at $40.40 on Thursday. NMI Holdings, Inc. has a 1-year low of $31.67 and a 1-year 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 firm’s 50-day moving average price is $36.61 and its 200-day moving average price is $36.78. The firm has a market capitalization of $3.16 billion, a price-to-earnings ratio of 9.12, a PEG ratio of 1.41 and a beta of 0.55.

NMI (NASDAQ:NMIH) last issued its quarterly earnings results on Tuesday, April 29th. The financial services provider reported $1.28 earnings per share (EPS) for the quarter, beating 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 company had revenue of $173.25 million during the quarter, compared to analysts’ expectations of $169.04 million. During the same period last year, the company posted $1.08 EPS. NMI’s revenue was up 10.8% on a year-over-year basis. Sell-side analysts anticipate that NMI Holdings, Inc. will post 4.62 EPS for the current year.

Insider Buying and Selling

In other news, insider William J. Leatherberry sold 13,111 shares of the stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $35.56, for a total transaction of $466,227.16. Following the completion of the transaction, the insider now directly owns 163,796 shares in the company, valued at approximately $5,824,585.76. This represents a 7.41% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Robert Owen Smith sold 20,000 shares of the business’s stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $36.58, for a total transaction of $731,600.00. Following the completion of the sale, the executive vice president now owns 84,566 shares in the company, valued at $3,093,424.28. This represents a 19.13% decrease in their position. The disclosure for this sale can be found here. Over 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 insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on NMIH shares. Wall Street Zen upgraded NMI from a “hold” rating to a “buy” rating in a research note on Monday, May 5th. UBS Group reduced their target price on NMI from $42.00 to $41.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th. Compass Point reissued a “buy” rating and issued a $37.00 price target (up from $34.00) on shares of NMI in a report on Friday, May 23rd. Keefe, Bruyette & Woods cut 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. Finally, JPMorgan Chase & Co. decreased their target price on shares of NMI from $42.00 to $41.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $42.29.

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.