New York State Common Retirement Fund Has $2.76 Million Position in NMI Holdings, Inc. (NASDAQ:NMIH)

New York State Common Retirement Fund increased its stake in shares of NMI Holdings, Inc. (NASDAQ:NMIH) by 196.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 75,013 shares of the financial services provider’s stock after purchasing an additional 49,700 shares during the quarter. New York State Common Retirement Fund owned approximately 0.09% of NMI worth $2,757,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the stock. Principal Financial Group Inc. boosted its holdings in shares of NMI by 3.6% during the fourth quarter. Principal Financial Group Inc. now owns 452,264 shares of the financial services provider’s stock worth $16,625,000 after purchasing an additional 15,868 shares during the period. State of New Jersey Common Pension Fund D raised its position in NMI by 11.9% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 55,563 shares of the financial services provider’s stock valued at $2,042,000 after acquiring an additional 5,912 shares in the last quarter. Principal Securities Inc. raised its position in NMI by 66.5% during the fourth quarter. Principal Securities Inc. now owns 716 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 286 shares in the last quarter. Entropy Technologies LP raised its position in NMI by 38.7% during the fourth quarter. Entropy Technologies LP now owns 7,888 shares of the financial services provider’s stock valued at $290,000 after acquiring an additional 2,201 shares in the last quarter. Finally, abrdn plc bought a new position in NMI during the fourth quarter valued at approximately $8,122,000. 94.12% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other NMI news, EVP Norman Peter Fitzgerald sold 20,000 shares of NMI stock in a transaction on Monday, February 24th. The shares were sold at an average price of $35.88, for a total transaction of $717,600.00. Following the sale, the executive vice president now owns 37,470 shares in the company, valued at $1,344,423.60. The trade was a 34.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Mohammad Nawaz Yousaf sold 1,083 shares of NMI stock in a transaction on Friday, February 21st. The stock was sold at an average price of $35.44, for a total transaction of $38,381.52. Following the sale, the executive vice president now owns 49,218 shares in the company, valued at $1,744,285.92. This represents a 2.15 % decrease in their position. The disclosure for this sale can be found here. 2.70% of the stock is currently owned by insiders.

NMI Trading Up 1.8 %

Shares of NMIH stock opened at $36.44 on Friday. NMI Holdings, Inc. has a 1 year low of $29.05 and a 1 year high of $42.49. The firm’s fifty day simple moving average is $36.78 and its 200 day simple moving average is $38.54. The firm has a market capitalization of $2.86 billion, a P/E ratio of 8.23, a price-to-earnings-growth ratio of 1.41 and a beta of 1.12. The company has a current ratio of 0.60, a quick ratio of 0.83 and a debt-to-equity ratio of 0.19.

NMI (NASDAQ:NMIH) last announced its earnings results on Wednesday, February 12th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.07). NMI had a return on equity of 17.33% and a net margin of 55.32%. As a group, sell-side analysts predict that NMI Holdings, Inc. will post 4.62 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Keefe, Bruyette & Woods raised shares of NMI from a “market perform” rating to an “outperform” rating and set a $43.00 price objective on the stock in a research report on Monday, February 24th. Barclays lowered shares of NMI from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $48.00 to $41.00 in a research report on Monday, January 6th. Royal Bank of Canada dropped their price target on shares of NMI from $48.00 to $47.00 and set an “outperform” rating on the stock in a research report on Thursday, November 7th. UBS Group dropped their price target on shares of NMI from $42.00 to $41.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 19th. Finally, JPMorgan Chase & Co. dropped their price target on shares of NMI from $46.00 to $41.00 and set an “overweight” rating on the stock in a research report on Monday, December 9th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, NMI currently has an average rating of “Moderate Buy” and an average target price of $42.29.

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.