Victory Capital Management Inc. Reduces Stock Holdings in NMI Holdings, Inc. (NASDAQ:NMIH)

Victory Capital Management Inc. lessened its stake in shares of NMI Holdings, Inc. (NASDAQ:NMIH) by 85.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,091 shares of the financial services provider’s stock after selling 202,553 shares during the quarter. Victory Capital Management Inc.’s holdings in NMI were worth $1,194,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in NMI by 5.3% during the first quarter. Vanguard Group Inc. now owns 7,168,138 shares of the financial services provider’s stock worth $231,818,000 after buying an additional 358,930 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of NMI by 23.0% in the second quarter. Assenagon Asset Management S.A. now owns 1,407,610 shares of the financial services provider’s stock valued at $47,915,000 after purchasing an additional 263,250 shares during the period. Capital International Investors purchased a new position in shares of NMI in the first quarter valued at approximately $32,270,000. Charles Schwab Investment Management Inc. boosted its stake in shares of NMI by 9.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 980,783 shares of the financial services provider’s stock valued at $29,110,000 after purchasing an additional 81,727 shares during the period. Finally, Clearbridge Investments LLC boosted its stake in shares of NMI by 22.5% in the fourth quarter. Clearbridge Investments LLC now owns 804,527 shares of the financial services provider’s stock valued at $23,878,000 after purchasing an additional 147,941 shares during the period. Hedge funds and other institutional investors own 94.12% of the company’s stock.

Insider Activity

In other news, Director Michael J. Embler sold 26,008 shares of NMI stock in a transaction on 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 transaction, the director now directly owns 61,607 shares of the company’s stock, valued at approximately $2,424,235.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Michael J. Embler sold 26,008 shares of NMI stock in a transaction on 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 transaction, the director now directly owns 61,607 shares in the company, valued at approximately $2,424,235.45. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider William J. Leatherberry sold 3,000 shares of NMI stock in a transaction 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 transaction, the insider now owns 153,689 shares in the company, valued at $6,158,318.23. The disclosure for this sale can be found here. Corporate insiders own 2.70% of the company’s stock.

NMI Stock Performance

Shares of NMI stock opened at $41.51 on Friday. The firm’s fifty day simple moving average is $38.94 and its 200-day simple moving average is $34.44. The stock has a market capitalization of $3.33 billion, a price-to-earnings ratio of 10.27, a PEG ratio of 0.89 and a beta of 1.12. NMI Holdings, Inc. has a 12 month low of $25.62 and a 12 month high of $42.49. 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 earnings results on Tuesday, July 30th. The financial services provider reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.15. The business had revenue of $162.12 million for the quarter, compared to analysts’ expectations of $138.49 million. NMI had a net margin of 56.40% and a return on equity of 18.29%. The company’s quarterly revenue was up 13.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.95 EPS. As a group, equities analysts forecast that NMI Holdings, Inc. will post 4.5 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Barclays raised their target price on shares of NMI from $41.00 to $43.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Truist Financial raised their price objective on shares of NMI from $37.00 to $47.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Keefe, Bruyette & Woods raised their price objective on shares of NMI from $37.00 to $40.00 and gave the stock a “market perform” rating in a report on Thursday, August 1st. Royal Bank of Canada raised shares of NMI from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $40.00 to $48.00 in a report on Wednesday. Finally, JPMorgan Chase & Co. raised their price objective on shares of NMI from $40.00 to $42.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.00.

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.