Quest Partners LLC Decreases Stake in NMI Holdings, Inc. (NASDAQ:NMIH)

Quest Partners LLC lowered its position in shares of NMI Holdings, Inc. (NASDAQ:NMIH) by 66.7% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 14,519 shares of the financial services provider’s stock after selling 29,026 shares during the quarter. Quest Partners LLC’s holdings in NMI were worth $494,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. UniSuper Management Pty Ltd bought a new stake in NMI during the first quarter worth $507,000. First Eagle Investment Management LLC raised its stake in shares of NMI by 17.6% during 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 period. Leuthold Group LLC purchased a new position in shares of NMI in the 1st quarter worth about $2,987,000. Panagora Asset Management Inc. grew its position in NMI by 7.5% during the fourth quarter. Panagora Asset Management Inc. now owns 497,427 shares of the financial services provider’s stock valued at $14,764,000 after buying an additional 34,620 shares during the period. Finally, Norges Bank purchased a new stake in NMI during the fourth quarter worth about $20,006,000. Hedge funds and other institutional investors own 94.12% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on NMIH. Keefe, Bruyette & Woods boosted their target price on shares of NMI from $37.00 to $40.00 and gave the company a “market perform” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. increased their price objective on NMI from $40.00 to $42.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. UBS Group lowered NMI from a “buy” rating to a “neutral” rating and boosted their target price for the company from $37.00 to $39.00 in a research note on Wednesday, May 22nd. Royal Bank of Canada increased their price target on NMI from $34.00 to $40.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 31st. Finally, StockNews.com lowered NMI from a “buy” rating to a “hold” rating in a report on Wednesday, August 21st. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, NMI presently has an average rating of “Moderate Buy” and an average price target of $40.00.

Insider Buying and Selling

In other NMI news, insider William J. Leatherberry sold 3,000 shares of the firm’s 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 completion of the transaction, the insider now directly owns 153,689 shares of the company’s stock, valued at approximately $6,158,318.23. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other NMI news, insider William J. Leatherberry sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $40.07, for a total value of $120,210.00. Following the sale, the insider now owns 153,689 shares of the company’s stock, valued at approximately $6,158,318.23. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Michael J. Embler sold 26,008 shares of NMI stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $39.35, for a total value of $1,023,414.80. Following 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 insiders.

NMI Stock Performance

NASDAQ:NMIH opened at $39.73 on Friday. The business’s fifty day moving average is $38.14 and its 200 day moving average is $33.99. The firm has a market cap of $3.19 billion, a price-to-earnings ratio of 9.83, a PEG ratio of 0.92 and a beta of 1.12. 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 52-week low of $25.62 and a 52-week high of $42.06.

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