PNC Financial Services Group Inc. Sells 4,837 Shares of NMI Holdings, Inc. (NASDAQ:NMIH)

PNC Financial Services Group Inc. trimmed its holdings in NMI Holdings, Inc. (NASDAQ:NMIH) by 35.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,678 shares of the financial services provider’s stock after selling 4,837 shares during the period. PNC Financial Services Group Inc.’s holdings in NMI were worth $258,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in NMIH. Norges Bank bought a new stake in NMI in the fourth quarter worth approximately $20,006,000. Assenagon Asset Management S.A. boosted its holdings in shares of NMI by 88.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 859,955 shares of the financial services provider’s stock worth $25,523,000 after buying an additional 402,793 shares during the period. Vanguard Group Inc. boosted its holdings in shares of NMI by 3.4% during the 4th quarter. Vanguard Group Inc. now owns 6,809,208 shares of the financial services provider’s stock worth $202,097,000 after buying an additional 225,364 shares during the period. Comerica Bank bought a new stake in shares of NMI during the 3rd quarter worth $4,914,000. Finally, Eagle Asset Management Inc. bought a new stake in shares of NMI during the 4th quarter worth $5,045,000. 94.12% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on NMIH shares. Truist Financial upped their price objective on shares of NMI from $36.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Keefe, Bruyette & Woods upped their price objective on shares of NMI from $33.00 to $36.00 and gave the stock a “market perform” rating in a report on Thursday, April 4th. JPMorgan Chase & Co. upped their price objective on shares of NMI from $35.00 to $36.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. UBS Group cut shares of NMI from a “buy” rating to a “neutral” rating and upped their target price for the company from $37.00 to $39.00 in a research note on Wednesday, May 22nd. Finally, Compass Point upped their target price on shares of NMI from $33.00 to $36.00 and gave the company a “buy” rating in a research note on Tuesday, May 7th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $35.56.

NMI Trading Down 0.1 %

Shares of NMIH stock opened at $34.02 on Tuesday. NMI Holdings, Inc. has a 52-week low of $24.83 and a 52-week high of $34.39. The stock has a market cap of $2.73 billion, a price-to-earnings ratio of 8.42, a P/E/G ratio of 1.16 and a beta of 1.09. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.89 and a current ratio of 0.89. The firm has a fifty day moving average of $32.78 and a 200-day moving average of $31.09.

NMI (NASDAQ:NMIH) last announced its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.12. NMI had a net margin of 56.26% and a return on equity of 18.09%. The company had revenue of $156.25 million during the quarter, compared to analysts’ expectations of $133.76 million. During the same quarter in the prior year, the company posted $0.88 EPS. The business’s revenue was up 14.2% on a year-over-year basis. On average, equities research analysts forecast that NMI Holdings, Inc. will post 4.24 earnings per share for the current fiscal year.

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.