Algert Global LLC Purchases 7,215 Shares of NMI Holdings, Inc. (NASDAQ:NMIH)

Algert Global LLC lifted its position in shares of NMI Holdings, Inc. (NASDAQ:NMIH) by 10.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 75,261 shares of the financial services provider’s stock after acquiring an additional 7,215 shares during the period. Algert Global LLC owned approximately 0.09% of NMI worth $2,562,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in NMIH. UniSuper Management Pty Ltd bought a new stake in NMI during the first quarter worth $507,000. First Eagle Investment Management LLC boosted its stake in NMI by 17.6% in the first quarter. First Eagle Investment Management LLC now owns 403,019 shares of the financial services provider’s stock valued at $13,034,000 after buying an additional 60,200 shares in the last quarter. Leuthold Group LLC bought a new position in NMI in the first quarter valued at about $2,987,000. Susquehanna Fundamental Investments LLC bought a new position in NMI in the first quarter valued at about $532,000. Finally, Eagle Asset Management Inc. acquired a new position in NMI during the fourth quarter worth about $5,045,000. Institutional investors and hedge funds own 94.12% of the company’s stock.

NMI Price Performance

Shares of NMIH opened at $41.13 on Wednesday. The company has a market capitalization of $3.30 billion, a price-to-earnings ratio of 10.18, a price-to-earnings-growth ratio of 0.94 and a beta of 1.12. The business has a 50-day moving average of $39.48 and a 200-day moving average of $35.06. 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 Holdings, Inc. has a 1 year low of $25.62 and a 1 year high of $42.49.

NMI (NASDAQ:NMIH) last announced its earnings results on Tuesday, July 30th. The financial services provider reported $1.20 earnings per share 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 firm earned $0.95 earnings per share. NMI’s quarterly revenue was up 13.6% on a year-over-year basis. As a group, equities research analysts anticipate that NMI Holdings, Inc. will post 4.5 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised their price target on shares of NMI from $40.00 to $42.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Barclays raised their price objective on NMI from $41.00 to $43.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Keefe, Bruyette & Woods upped their target price on 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 NMI from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $40.00 to $48.00 in a research note on Wednesday, September 18th. Finally, Truist Financial raised their price objective on shares of NMI from $37.00 to $47.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.00.

Insider Activity

In related news, Director Michael J. Embler sold 26,008 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The stock was 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 owns 61,607 shares of the company’s stock, valued at $2,424,235.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other NMI news, Director Michael J. Embler sold 26,008 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $39.35, for a total transaction 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 document filed with the Securities & Exchange Commission, which is available 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 sale, the insider now owns 153,689 shares of the company’s stock, valued at approximately $6,158,318.23. The disclosure for this sale can be found here. 2.70% of the stock is owned by company insiders.

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.