PNC Financial Services Group Inc. Sells 1,608 Shares of NMI Holdings, Inc. (NASDAQ:NMIH)

PNC Financial Services Group Inc. cut its stake in shares of NMI Holdings, Inc. (NASDAQ:NMIH) by 21.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,900 shares of the financial services provider’s stock after selling 1,608 shares during the period. PNC Financial Services Group Inc.’s holdings in NMI were worth $217,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of NMIH. Raymond James Financial Inc. acquired a new stake in NMI during the fourth quarter worth approximately $13,136,000. Barclays PLC lifted its position in NMI by 264.4% during the third quarter. Barclays PLC now owns 386,999 shares of the financial services provider’s stock worth $15,940,000 after acquiring an additional 280,809 shares during the last quarter. abrdn plc acquired a new stake in NMI during the fourth quarter worth approximately $8,122,000. Denali Advisors LLC lifted its position in NMI by 2,446.6% during the fourth quarter. Denali Advisors LLC now owns 175,718 shares of the financial services provider’s stock worth $6,459,000 after acquiring an additional 168,818 shares during the last quarter. Finally, FMR LLC lifted its position in NMI by 7.6% during the third quarter. FMR LLC now owns 1,517,092 shares of the financial services provider’s stock worth $62,489,000 after acquiring an additional 107,771 shares during the last quarter. 94.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at NMI

In other NMI news, EVP Mohammad Nawaz Yousaf sold 1,083 shares of the business’s stock in a transaction on Friday, February 21st. The shares were 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 of the company’s stock, valued at approximately $1,744,285.92. The trade was a 2.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Norman Peter Fitzgerald sold 20,000 shares of the business’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $35.88, for a total transaction of $717,600.00. Following the sale, the executive vice president now directly owns 37,470 shares in the company, valued at approximately $1,344,423.60. The trade was a 34.80 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.70% of the company’s stock.

NMI Stock Down 0.5 %

Shares of NMIH opened at $35.29 on Monday. NMI Holdings, Inc. has a one year low of $29.05 and a one year high of $42.49. The company has a market cap of $2.77 billion, a P/E ratio of 7.97, a P/E/G ratio of 1.41 and a beta of 1.02. 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 50 day simple moving average of $36.45 and a two-hundred day simple moving average of $38.09.

NMI (NASDAQ:NMIH) last announced its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $1.07 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.07). NMI had a net margin of 55.32% and a return on equity of 17.33%. Research analysts forecast that NMI Holdings, Inc. will post 4.62 EPS 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.