Bank of New York Mellon Corp Trims Stock Holdings in NMI Holdings, Inc. (NASDAQ:NMIH)

Bank of New York Mellon Corp decreased its position in NMI Holdings, Inc. (NASDAQ:NMIH) by 2.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 576,803 shares of the financial services provider’s stock after selling 14,971 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.73% of NMI worth $21,203,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Principal Securities Inc. boosted its holdings in shares of NMI by 66.5% during the 4th quarter. Principal Securities Inc. now owns 716 shares of the financial services provider’s stock valued at $26,000 after buying an additional 286 shares in the last quarter. KBC Group NV boosted its holdings in shares of NMI by 38.3% during the 4th quarter. KBC Group NV now owns 3,221 shares of the financial services provider’s stock valued at $118,000 after buying an additional 892 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of NMI by 989.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,248 shares of the financial services provider’s stock valued at $134,000 after buying an additional 2,950 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. boosted its holdings in shares of NMI by 21.3% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,810 shares of the financial services provider’s stock valued at $198,000 after buying an additional 846 shares in the last quarter. Finally, Capstone Investment Advisors LLC bought a new stake in shares of NMI during the 3rd quarter valued at $222,000. Hedge funds and other institutional investors own 94.12% of the company’s stock.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on NMIH. Keefe, Bruyette & Woods upgraded shares of NMI from a “market perform” rating to an “outperform” rating and set a $43.00 target price on the stock in a report on Monday, February 24th. Barclays cut shares of NMI from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $48.00 to $41.00 in a report on Monday, January 6th. UBS Group lowered their price target on NMI from $42.00 to $41.00 and set a “neutral” rating for the company in a research report on Wednesday, February 19th. Finally, JPMorgan Chase & Co. lowered their price target on NMI from $46.00 to $41.00 and set an “overweight” rating for the company in a research report on Monday, December 9th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $42.29.

NMI Price Performance

NMIH opened at $34.63 on Tuesday. The stock has a 50-day moving average price of $36.62 and a 200-day moving average price of $38.44. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.60 and a quick ratio of 0.83. The firm has a market cap of $2.72 billion, a PE ratio of 7.82, a P/E/G ratio of 1.41 and a beta of 1.02. NMI Holdings, Inc. has a 1 year low of $29.05 and a 1 year high of $42.49.

NMI (NASDAQ:NMIH) last issued its earnings results on Wednesday, February 12th. The financial services provider reported $1.07 earnings per share 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%. Sell-side analysts predict that NMI Holdings, Inc. will post 4.62 earnings per share for the current fiscal year.

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.