State of New Jersey Common Pension Fund D Lowers Stake in NMI Holdings, Inc. (NASDAQ:NMIH)

State of New Jersey Common Pension Fund D lessened its holdings in NMI Holdings, Inc. (NASDAQ:NMIH) by 14.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 49,651 shares of the financial services provider’s stock after selling 8,180 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in NMI were worth $2,045,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. UniSuper Management Pty Ltd purchased a new stake in shares of NMI in the 1st quarter worth approximately $507,000. Leeward Investments LLC MA boosted its holdings in NMI by 5.6% in the second quarter. Leeward Investments LLC MA now owns 306,985 shares of the financial services provider’s stock worth $10,450,000 after acquiring an additional 16,295 shares in the last quarter. Edgestream Partners L.P. grew its stake in shares of NMI by 13.1% in the second quarter. Edgestream Partners L.P. now owns 172,794 shares of the financial services provider’s stock worth $5,882,000 after acquiring an additional 20,048 shares during the last quarter. Panagora Asset Management Inc. increased its holdings in shares of NMI by 5.8% during the second quarter. Panagora Asset Management Inc. now owns 526,287 shares of the financial services provider’s stock valued at $17,915,000 after acquiring an additional 29,040 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of NMI by 5.3% in the 1st quarter. Vanguard Group Inc. now owns 7,168,138 shares of the financial services provider’s stock worth $231,818,000 after purchasing an additional 358,930 shares during the last quarter. Institutional investors own 94.12% of the company’s stock.

NMI Stock Performance

NMIH stock opened at $37.62 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.83 and a quick ratio of 0.83. NMI Holdings, Inc. has a 1 year low of $27.00 and a 1 year high of $42.49. The company has a market cap of $2.98 billion, a P/E ratio of 8.61, a price-to-earnings-growth ratio of 0.93 and a beta of 1.13. The stock’s fifty day moving average price is $39.95 and its 200-day moving average price is $37.00.

Analysts Set New Price Targets

A number of research firms have weighed in on NMIH. JPMorgan Chase & Co. raised their price objective on shares of NMI from $42.00 to $46.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Royal Bank of Canada decreased their price objective on shares of NMI from $48.00 to $47.00 and set an “outperform” rating for the company in a report on Thursday, November 7th. Truist Financial upped their price objective on NMI from $37.00 to $47.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Keefe, Bruyette & Woods lifted their target price on NMI from $37.00 to $40.00 and gave the stock a “market perform” rating in a report on Thursday, August 1st. Finally, StockNews.com downgraded NMI from a “buy” rating to a “hold” rating in a report on Wednesday, August 21st. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $43.29.

Insider Buying and Selling at NMI

In other NMI news, insider William J. Leatherberry sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $40.07, for a total transaction of $120,210.00. Following the completion of the sale, the insider now directly owns 153,689 shares of the company’s stock, valued at approximately $6,158,318.23. This represents a 1.91 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.70% of the stock is owned by corporate insiders.

NMI Company Profile

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.