Lombard Odier Asset Management USA Corp Trims Position in NMI Holdings, Inc. (NASDAQ:NMIH)

Lombard Odier Asset Management USA Corp decreased its stake in shares of NMI Holdings, Inc. (NASDAQ:NMIH) by 21.6% in the second quarter, Holdings Channel.com reports. The fund owned 43,577 shares of the financial services provider’s stock after selling 12,000 shares during the period. Lombard Odier Asset Management USA Corp’s holdings in NMI were worth $1,483,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NMIH. BNP Paribas Financial Markets boosted its position in shares of NMI by 6.8% during the fourth quarter. BNP Paribas Financial Markets now owns 61,387 shares of the financial services provider’s stock worth $1,822,000 after acquiring an additional 3,912 shares during the last quarter. Robeco Institutional Asset Management B.V. bought a new position in NMI during the fourth quarter valued at $145,000. Norges Bank bought a new position in NMI during the fourth quarter valued at $20,006,000. Assetmark Inc. lifted its position in NMI by 4.0% during the fourth quarter. Assetmark Inc. now owns 68,263 shares of the financial services provider’s stock valued at $2,026,000 after purchasing an additional 2,641 shares during the last quarter. Finally, TFO Wealth Partners LLC lifted its position in NMI by 24,500.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,230 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 1,225 shares during the last quarter. Institutional investors own 94.12% of the company’s stock.

NMI Trading Down 1.6 %

Shares of NMIH opened at $40.84 on Monday. NMI Holdings, Inc. has a 1-year low of $25.62 and a 1-year high of $42.49. The company has a 50-day moving average of $39.05 and a 200 day moving average of $34.58. The firm has a market capitalization of $3.28 billion, a price-to-earnings ratio of 10.11, a PEG ratio of 0.89 and a beta of 1.12. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.67 and a quick ratio of 0.67.

NMI (NASDAQ:NMIH) last announced its quarterly earnings data on Tuesday, July 30th. The financial services provider reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.15. NMI had a net margin of 56.40% and a return on equity of 18.29%. The company had revenue of $162.12 million during the quarter, compared to analyst estimates of $138.49 million. During the same quarter last year, the business posted $0.95 EPS. The firm’s revenue for the quarter was up 13.6% on a year-over-year basis. On average, research analysts expect that NMI Holdings, Inc. will post 4.5 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Royal Bank of Canada upgraded shares of NMI from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $40.00 to $48.00 in a research report on Wednesday, September 18th. Barclays increased their price objective on shares of NMI from $41.00 to $43.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. StockNews.com lowered shares of NMI from a “buy” rating to a “hold” rating in a research report on Wednesday, August 21st. JPMorgan Chase & Co. raised 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, Truist Financial raised their target price on shares of NMI from $37.00 to $47.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, NMI presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.00.

Insider Activity at NMI

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