State of New Jersey Common Pension Fund D Sells 37,359 Shares of NMI Holdings, Inc. (NASDAQ:NMIH)

State of New Jersey Common Pension Fund D cut its holdings in NMI Holdings, Inc. (NASDAQ:NMIH) by 39.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 57,831 shares of the financial services provider’s stock after selling 37,359 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.07% of NMI worth $1,969,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hancock Whitney Corp raised its holdings in NMI by 1.6% in the first quarter. Hancock Whitney Corp now owns 22,098 shares of the financial services provider’s stock worth $715,000 after purchasing an additional 346 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of NMI by 9.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 7,888 shares of the financial services provider’s stock valued at $255,000 after acquiring an additional 666 shares during the period. Opal Wealth Advisors LLC bought a new stake in shares of NMI during the 2nd quarter worth about $29,000. Ellis Investment Partners LLC boosted its holdings in shares of NMI by 0.9% during the 2nd quarter. Ellis Investment Partners LLC now owns 92,727 shares of the financial services provider’s stock worth $3,156,000 after buying an additional 871 shares during the period. Finally, ProShare Advisors LLC boosted its holdings in shares of NMI by 6.0% during the 1st quarter. ProShare Advisors LLC now owns 16,103 shares of the financial services provider’s stock worth $521,000 after buying an additional 909 shares during the period. 94.12% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on NMIH shares. Royal Bank of Canada raised shares of NMI from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $40.00 to $48.00 in a report on Wednesday. JPMorgan Chase & Co. upped their price objective on shares of NMI from $40.00 to $42.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. StockNews.com lowered shares of NMI from a “buy” rating to a “hold” rating in a report on Wednesday, August 21st. Truist Financial upped their price objective on shares of NMI from $37.00 to $47.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Finally, Barclays upped their price objective on shares of NMI from $41.00 to $43.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $41.00.

Insider Buying and Selling

In other NMI news, Director Michael J. Embler sold 26,008 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $39.35, for a total transaction of $1,023,414.80. Following the completion of the transaction, the director now owns 61,607 shares in the company, valued at $2,424,235.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider William J. Leatherberry sold 3,000 shares of the firm’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 value of $120,210.00. Following the sale, the insider now directly owns 153,689 shares of the company’s stock, valued at $6,158,318.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael J. Embler sold 26,008 shares of the firm’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 transaction of $1,023,414.80. Following the completion of the sale, the director now directly owns 61,607 shares in the company, valued at $2,424,235.45. The disclosure for this sale can be found here. 2.70% of the stock is currently owned by corporate insiders.

NMI Stock Performance

NMIH opened at $40.84 on Friday. The company’s fifty day moving average price is $39.05 and its two-hundred day moving average price is $34.55. The company 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 company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.20. NMI Holdings, Inc. has a 1-year low of $25.62 and a 1-year high of $42.49.

NMI (NASDAQ:NMIH) last posted its quarterly earnings data on Tuesday, July 30th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $138.49 million. During the same quarter last year, the company posted $0.95 earnings per share. The firm’s quarterly revenue was up 13.6% compared to the same quarter last year. On average, analysts expect that NMI Holdings, Inc. will post 4.5 EPS for the current fiscal year.

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.