Bridges Investment Management Inc. Acquires Shares of 12,709 NMI Holdings, Inc. (NASDAQ:NMIH)

Bridges Investment Management Inc. bought a new position in NMI Holdings, Inc. (NASDAQ:NMIH) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 12,709 shares of the financial services provider’s stock, valued at approximately $433,000.

A number of other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in NMI by 5.3% during the 1st quarter. Vanguard Group Inc. now owns 7,168,138 shares of the financial services provider’s stock valued at $231,818,000 after buying an additional 358,930 shares in the last quarter. Van Berkom & Associates Inc. grew its holdings in shares of NMI by 2.1% in the second quarter. Van Berkom & Associates Inc. now owns 2,451,743 shares of the financial services provider’s stock valued at $83,457,000 after purchasing an additional 51,194 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of NMI by 18.4% in the second quarter. American Century Companies Inc. now owns 1,617,601 shares of the financial services provider’s stock valued at $55,063,000 after purchasing an additional 251,664 shares in the last quarter. Assenagon Asset Management S.A. increased its position in 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 worth $47,915,000 after purchasing an additional 263,250 shares during the last quarter. Finally, Capital International Investors purchased a new stake in NMI during the first quarter valued at $32,270,000. 94.12% of the stock is currently owned by hedge funds and other institutional investors.

NMI Stock Performance

NMIH stock opened at $40.84 on Friday. NMI Holdings, Inc. has a twelve month low of $25.62 and a twelve month high of $42.49. The firm has a market cap of $3.28 billion, a price-to-earnings ratio of 10.11, a PEG ratio of 0.89 and a beta of 1.12. The business’s fifty day simple moving average is $39.05 and its two-hundred day simple moving average is $34.55. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.20.

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

Wall Street Analyst Weigh In

NMIH has been the subject of a number of recent research reports. JPMorgan Chase & Co. lifted their price objective on shares of NMI from $40.00 to $42.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Keefe, Bruyette & Woods boosted their price objective on NMI from $37.00 to $40.00 and gave the stock a “market perform” rating in a research note on Thursday, August 1st. Barclays lifted their target price on NMI from $41.00 to $43.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Royal Bank of Canada raised NMI from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $40.00 to $48.00 in a research report on Wednesday. Finally, Truist Financial raised their price target on NMI from $37.00 to $47.00 and gave the stock a “buy” rating in a research 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $41.00.

Insider Activity

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 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 in the company, valued at approximately $6,158,318.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Michael J. Embler sold 26,008 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the director now 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 available through the SEC website. Also, insider William J. Leatherberry sold 3,000 shares of the 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 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. Insiders own 2.70% of the company’s stock.

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.