Smithfield Trust Co Raises Holdings in NMI Holdings Inc $NMIH

Smithfield Trust Co lifted its stake in NMI Holdings Inc (NASDAQ:NMIH) by 955.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,354 shares of the financial services provider’s stock after purchasing an additional 2,131 shares during the quarter. Smithfield Trust Co’s holdings in NMI were worth $99,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. American Century Companies Inc. grew its position in NMI by 9.0% during the 1st quarter. American Century Companies Inc. now owns 2,133,945 shares of the financial services provider’s stock worth $76,929,000 after purchasing an additional 176,766 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of NMI by 0.3% during the second quarter. Geode Capital Management LLC now owns 1,966,970 shares of the financial services provider’s stock worth $82,996,000 after buying an additional 5,628 shares during the period. Millennium Management LLC grew its holdings in shares of NMI by 209.9% during the first quarter. Millennium Management LLC now owns 1,432,950 shares of the financial services provider’s stock valued at $51,658,000 after buying an additional 970,551 shares during the last quarter. Nuveen LLC purchased a new stake in shares of NMI during the first quarter valued at $44,886,000. Finally, Allianz Asset Management GmbH increased its position in shares of NMI by 76.4% in the 2nd quarter. Allianz Asset Management GmbH now owns 640,158 shares of the financial services provider’s stock valued at $27,008,000 after acquiring an additional 277,318 shares during the period. 94.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on NMIH. Weiss Ratings reiterated a “buy (b)” rating on shares of NMI in a research note on Wednesday, October 8th. Barclays reaffirmed a “cautious” rating on shares of NMI in a report on Monday, October 6th. Finally, JPMorgan Chase & Co. cut their price target on shares of NMI from $43.00 to $42.00 and set an “overweight” rating on the stock in a report on Wednesday, November 5th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, NMI has an average rating of “Moderate Buy” and an average price target of $41.20.

NMI Stock Performance

NASDAQ:NMIH opened at $37.22 on Friday. The company’s 50-day moving average price is $37.50 and its 200-day moving average price is $38.53. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.17. The company has a market cap of $2.86 billion, a P/E ratio of 7.79, a P/E/G ratio of 1.16 and a beta of 0.63. NMI Holdings Inc has a twelve month low of $31.90 and a twelve month high of $43.20.

NMI (NASDAQ:NMIH) last announced its quarterly earnings data on Tuesday, November 4th. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.21. The company had revenue of $171.56 million during the quarter, compared to analysts’ expectations of $177.01 million. NMI had a net margin of 55.02% and a return on equity of 16.08%. NMI’s revenue was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.15 EPS. On average, sell-side analysts forecast that NMI Holdings Inc will post 4.62 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Steven Scheid sold 19,926 shares of the company’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $39.31, for a total value of $783,291.06. Following the completion of the sale, the director directly owned 78,960 shares in the company, valued at $3,103,917.60. This represents a 20.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.00% of the stock is owned by company insiders.

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.