Amalgamated Bank Sells 1,057 Shares of NMI Holdings, Inc. (NASDAQ:NMIH)

Amalgamated Bank reduced its holdings in NMI Holdings, Inc. (NASDAQ:NMIH) by 4.3% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 23,452 shares of the financial services provider’s stock after selling 1,057 shares during the quarter. Amalgamated Bank’s holdings in NMI were worth $966,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC bought a new position in shares of NMI during the 2nd quarter worth about $29,000. Quarry LP boosted its holdings in NMI by 135.1% in the second quarter. Quarry LP now owns 858 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 493 shares in the last quarter. GAMMA Investing LLC grew its stake in NMI by 57.2% in the third quarter. GAMMA Investing LLC now owns 728 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 265 shares during the period. USA Financial Formulas bought a new stake in shares of NMI during the third quarter valued at approximately $57,000. Finally, Picton Mahoney Asset Management acquired a new position in shares of NMI during the second quarter worth approximately $63,000. 94.12% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of NMI from $42.00 to $46.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Truist Financial boosted their target price on shares of NMI from $37.00 to $47.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Keefe, Bruyette & Woods raised their price target on shares of NMI from $37.00 to $40.00 and gave the company a “market perform” rating in a research report on Thursday, August 1st. Barclays boosted their price objective on NMI from $43.00 to $48.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Finally, Royal Bank of Canada dropped their target price on NMI from $48.00 to $47.00 and set an “outperform” rating on the stock in a report on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $43.29.

NMI Stock Performance

Shares of NMI stock opened at $37.37 on Friday. The business’s fifty day simple moving average is $40.02 and its 200 day simple moving average is $37.00. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.19. NMI Holdings, Inc. has a 12 month low of $27.00 and a 12 month high of $42.49. The firm has a market capitalization of $2.96 billion, a P/E ratio of 8.52, a price-to-earnings-growth ratio of 0.94 and a beta of 1.13.

Insider Activity

In related news, insider William J. Leatherberry sold 3,000 shares of NMI stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $40.07, for a total value of $120,210.00. Following the sale, the insider now owns 153,689 shares of the company’s stock, valued at approximately $6,158,318.23. The trade was a 1.91 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.70% of the company’s stock.

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.