Primecap Management Co. CA Sells 23,190 Shares of NMI Holdings, Inc. (NASDAQ:NMIH)

Primecap Management Co. CA trimmed its stake in shares of NMI Holdings, Inc. (NASDAQ:NMIH) by 5.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 437,010 shares of the financial services provider’s stock after selling 23,190 shares during the quarter. Primecap Management Co. CA owned 0.54% of NMI worth $14,876,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Donald Smith & CO. Inc. bought a new stake in shares of NMI during the second quarter valued at about $29,708,000. Federated Hermes Inc. increased its holdings in NMI by 1.8% during the 2nd quarter. Federated Hermes Inc. now owns 33,570 shares of the financial services provider’s stock worth $1,143,000 after acquiring an additional 593 shares during the period. DekaBank Deutsche Girozentrale lifted its stake in NMI by 9.2% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 10,560 shares of the financial services provider’s stock worth $353,000 after purchasing an additional 891 shares in the last quarter. BOKF NA boosted its holdings in NMI by 75.6% in the 2nd quarter. BOKF NA now owns 17,338 shares of the financial services provider’s stock valued at $590,000 after purchasing an additional 7,467 shares during the period. Finally, American Century Companies Inc. grew its position in shares of NMI by 18.4% during the 2nd quarter. American Century Companies Inc. now owns 1,617,601 shares of the financial services provider’s stock valued at $55,063,000 after purchasing an additional 251,664 shares in the last quarter. Hedge funds and other institutional investors own 94.12% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on NMIH shares. StockNews.com lowered NMI from a “buy” rating to a “hold” rating in a research note on Wednesday, August 21st. Truist Financial lifted their price target on NMI from $37.00 to $47.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Keefe, Bruyette & Woods upped their price objective on shares of NMI from $37.00 to $40.00 and gave the stock a “market perform” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. lifted their target price on shares of NMI from $40.00 to $42.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Finally, Barclays increased their price target on shares of NMI from $41.00 to $43.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, NMI presently has a consensus rating of “Moderate Buy” and an average price target of $41.00.

Insider Activity at NMI

In other NMI news, Director Michael J. Embler sold 26,008 shares of the business’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 value of $1,023,414.80. Following the completion of the sale, the director now owns 61,607 shares in the company, valued at $2,424,235.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other NMI news, Director Michael J. Embler sold 26,008 shares of the firm’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $39.35, for a total value of $1,023,414.80. Following the sale, the director now owns 61,607 shares of the company’s stock, valued at approximately $2,424,235.45. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider William J. Leatherberry sold 3,000 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $40.07, for a total transaction of $120,210.00. Following the transaction, the insider now directly owns 153,689 shares of the company’s stock, valued at $6,158,318.23. The disclosure for this sale can be found here. 2.70% of the stock is currently owned by company insiders.

NMI Trading Up 1.2 %

NMIH stock opened at $41.66 on Thursday. The company has a market capitalization of $3.34 billion, a PE ratio of 10.31, a price-to-earnings-growth ratio of 0.89 and a beta of 1.12. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.67 and a current ratio of 0.67. NMI Holdings, Inc. has a one year low of $25.62 and a one year high of $42.49. The company’s 50 day moving average price is $38.82 and its two-hundred day moving average price is $34.39.

NMI (NASDAQ:NMIH) last issued its earnings results on Tuesday, July 30th. The financial services provider reported $1.20 EPS 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 company had revenue of $162.12 million for the quarter, compared to analysts’ expectations of $138.49 million. During the same quarter last year, the company earned $0.95 EPS. The firm’s revenue was up 13.6% compared to the same quarter last year. As a group, analysts predict that NMI Holdings, Inc. will post 4.5 earnings per share for the current fiscal year.

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.