Edgestream Partners L.P. Cuts Stake in NMI Holdings Inc $NMIH

Edgestream Partners L.P. trimmed its stake in NMI Holdings Inc (NASDAQ:NMIH) by 15.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 203,591 shares of the financial services provider’s stock after selling 36,627 shares during the quarter. Edgestream Partners L.P. owned about 0.26% of NMI worth $8,590,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Cetera Investment Advisers boosted its holdings in NMI by 5.7% in the first quarter. Cetera Investment Advisers now owns 6,347 shares of the financial services provider’s stock valued at $229,000 after acquiring an additional 341 shares during the last quarter. LPL Financial LLC raised its holdings in shares of NMI by 4.7% in the 1st quarter. LPL Financial LLC now owns 52,321 shares of the financial services provider’s stock worth $1,886,000 after purchasing an additional 2,359 shares during the period. Mackenzie Financial Corp lifted its stake in shares of NMI by 12.3% in the 1st quarter. Mackenzie Financial Corp now owns 14,863 shares of the financial services provider’s stock valued at $536,000 after purchasing an additional 1,629 shares in the last quarter. Natixis Advisors LLC grew its holdings in shares of NMI by 11.4% during the 1st quarter. Natixis Advisors LLC now owns 35,326 shares of the financial services provider’s stock worth $1,274,000 after purchasing an additional 3,629 shares during the period. Finally, PNC Financial Services Group Inc. increased its position in NMI by 8.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 6,397 shares of the financial services provider’s stock worth $231,000 after purchasing an additional 497 shares in the last quarter. Hedge funds and other institutional investors own 94.12% of the company’s stock.

Insider Activity

In related news, Director Steven Scheid sold 19,926 shares of NMI stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $39.31, for a total value of $783,291.06. Following the completion of the transaction, the director directly owned 78,960 shares in the company, valued at approximately $3,103,917.60. This trade represents a 20.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael J. Embler sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 19th. The shares were sold at an average price of $36.90, for a total value of $738,000.00. Following the sale, the director owned 46,046 shares in the company, valued at $1,699,097.40. The trade was a 30.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 3.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on NMIH shares. Barclays reaffirmed a “cautious” rating on shares of NMI in a research report on Monday, October 6th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of NMI in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. cut their price objective on NMI from $43.00 to $42.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, NMI currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.20.

NMI Trading Up 1.0%

NMIH opened at $38.53 on Tuesday. NMI Holdings Inc has a 12-month low of $31.90 and a 12-month high of $43.20. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a market capitalization of $2.96 billion, a PE ratio of 8.06, a P/E/G ratio of 1.18 and a beta of 0.66. The firm’s fifty day moving average price is $37.08 and its 200 day moving average price is $38.60.

NMI (NASDAQ:NMIH) last announced its quarterly earnings data on Tuesday, November 4th. The financial services provider reported $1.21 earnings per share for the quarter, hitting the consensus estimate of $1.21. The company had revenue of $171.56 million during the quarter, compared to analyst estimates of $177.01 million. NMI had a net margin of 55.02% and a return on equity of 16.08%. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period last year, the business earned $1.15 EPS. As a group, research analysts expect 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.