Raymond James Financial Inc. Takes Position in NMI Holdings, Inc. (NASDAQ:NMIH)

Raymond James Financial Inc. purchased a new position in shares of NMI Holdings, Inc. (NASDAQ:NMIH) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 357,343 shares of the financial services provider’s stock, valued at approximately $13,136,000. Raymond James Financial Inc. owned about 0.45% of NMI as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the company. Principal Securities Inc. grew its position in NMI by 66.5% in the 4th quarter. Principal Securities Inc. now owns 716 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 286 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in NMI by 288.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,868 shares of the financial services provider’s stock worth $69,000 after buying an additional 1,387 shares in the last quarter. KBC Group NV grew its holdings in NMI by 38.3% in the 4th quarter. KBC Group NV now owns 3,221 shares of the financial services provider’s stock worth $118,000 after buying an additional 892 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. increased its position in NMI by 21.3% in 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 acquiring an additional 846 shares during the period. Finally, Capstone Investment Advisors LLC bought a new stake in NMI during the 3rd quarter valued at $222,000. Institutional investors and hedge funds own 94.12% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on NMIH shares. Keefe, Bruyette & Woods raised NMI from a “market perform” rating to an “outperform” rating and set a $43.00 price target on the stock in a report on Monday, February 24th. 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. Barclays cut shares of NMI from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $48.00 to $41.00 in a report on Monday, January 6th. Finally, UBS Group dropped their target price on NMI from $42.00 to $41.00 and set a “neutral” rating on the stock in a report on Wednesday, February 19th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, NMI has a consensus rating of “Moderate Buy” and an average price target of $42.29.

NMI Stock Performance

Shares of NMIH opened at $35.42 on Thursday. NMI Holdings, Inc. has a 52 week low of $29.05 and a 52 week high of $42.49. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.83 and a current ratio of 0.60. The company has a market capitalization of $2.78 billion, a PE ratio of 8.00, a PEG ratio of 1.41 and a beta of 1.02. The company’s 50 day moving average price is $36.44 and its 200 day moving average price is $38.19.

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 the consensus estimate of $1.14 by ($0.07). NMI had a return on equity of 17.33% and a net margin of 55.32%. Research analysts expect that NMI Holdings, Inc. will post 4.62 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Norman Peter Fitzgerald sold 20,000 shares of the company’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $35.88, for a total transaction of $717,600.00. Following the completion of the sale, the executive vice president now owns 37,470 shares in the company, valued at approximately $1,344,423.60. This represents a 34.80 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Mohammad Nawaz Yousaf sold 1,083 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The shares were 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 directly owns 49,218 shares in the company, valued at $1,744,285.92. The trade was a 2.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by corporate insiders.

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.