American Century Companies Inc. Acquires 251,664 Shares of NMI Holdings, Inc. (NASDAQ:NMIH)

American Century Companies Inc. increased its holdings in shares of NMI Holdings, Inc. (NASDAQ:NMIH) by 18.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,617,601 shares of the financial services provider’s stock after buying an additional 251,664 shares during the period. American Century Companies Inc. owned 2.02% of NMI worth $55,063,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Capital International Investors acquired a new stake in shares of NMI during the first quarter worth $32,270,000. Goldentree Asset Management LP acquired a new position in shares of NMI during the 1st quarter worth about $22,600,000. Norges Bank bought a new stake in shares of NMI in the 4th quarter valued at about $20,006,000. F M Investments LLC acquired a new stake in shares of NMI in the 2nd quarter valued at approximately $12,447,000. Finally, Vanguard Group Inc. raised its holdings in NMI by 5.3% in the first 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 period. 94.12% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Truist Financial raised their price objective on NMI from $37.00 to $47.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. StockNews.com lowered NMI from a “buy” rating to a “hold” rating in a research report on Wednesday, August 21st. JPMorgan Chase & Co. boosted their price objective on NMI from $40.00 to $42.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Barclays raised their target price on shares of NMI from $41.00 to $43.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Finally, Royal Bank of Canada upped their price target on shares of NMI from $34.00 to $40.00 and gave the company a “sector perform” rating in a report on Wednesday, July 31st. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.00.

NMI Stock Performance

Shares of NASDAQ NMIH opened at $41.07 on Monday. The stock has a market capitalization of $3.27 billion, a PE ratio of 10.17, a price-to-earnings-growth ratio of 0.89 and a beta of 1.12. NMI Holdings, Inc. has a 52 week low of $25.62 and a 52 week high of $42.06. The stock has a 50 day moving average price of $38.39 and a 200 day moving average price of $34.17. 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 (NASDAQ:NMIH) last released its 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 net margin of 56.40% and a return on equity of 18.29%. The business had revenue of $162.12 million during the quarter, compared to analysts’ expectations of $138.49 million. During the same period last year, the business earned $0.95 earnings per share. The firm’s revenue was up 13.6% on a year-over-year basis. Analysts predict that NMI Holdings, Inc. will post 4.5 earnings per share for the current fiscal year.

Insider Transactions at NMI

In related news, insider William J. Leatherberry sold 3,000 shares of the firm’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 directly owns 153,689 shares in the company, valued at approximately $6,158,318.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Michael J. Embler sold 26,008 shares of the stock in a transaction on Wednesday, July 31st. The stock was 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 in the company, valued at approximately $2,424,235.45. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider William J. Leatherberry sold 3,000 shares of NMI stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $40.07, for a total transaction of $120,210.00. Following the transaction, the insider now directly owns 153,689 shares of the company’s stock, valued at $6,158,318.23. The disclosure for this sale can be found here. 2.70% of the stock is owned by company 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.