NMI Holdings Inc (NMIH) Position Lowered by Morgan Stanley
Morgan Stanley decreased its position in shares of NMI Holdings Inc (NASDAQ:NMIH) by 25.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 177,531 shares of the financial services provider’s stock after selling 61,204 shares during the period. Morgan Stanley owned about 0.30% of NMI Holdings worth $2,024,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of the stock. American International Group Inc. raised its stake in shares of NMI Holdings by 7.1% in the first quarter. American International Group Inc. now owns 30,430 shares of the financial services provider’s stock worth $347,000 after buying an additional 2,022 shares in the last quarter. Strs Ohio raised its stake in shares of NMI Holdings by 26.5% in the first quarter. Strs Ohio now owns 64,400 shares of the financial services provider’s stock worth $734,000 after buying an additional 13,500 shares in the last quarter. Virginia Retirement Systems ET AL raised its stake in shares of NMI Holdings by 16.2% in the first quarter. Virginia Retirement Systems ET AL now owns 120,700 shares of the financial services provider’s stock worth $1,376,000 after buying an additional 16,800 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of NMI Holdings by 4.2% in the first quarter. Bank of New York Mellon Corp now owns 481,960 shares of the financial services provider’s stock worth $5,494,000 after buying an additional 19,354 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC bought a new stake in shares of NMI Holdings during the first quarter worth about $223,000. 84.65% of the stock is owned by hedge funds and other institutional investors.
Shares of NMI Holdings Inc (NASDAQ NMIH) traded down 1.528% during mid-day trading on Monday, hitting $11.275. 59,234 shares of the stock were exchanged. The company has a 50-day moving average price of $11.76 and a 200-day moving average price of $11.37. The stock has a market cap of $674.94 million, a price-to-earnings ratio of 8.970 and a beta of 0.64. NMI Holdings Inc has a 12 month low of $7.12 and a 12 month high of $12.70.
NMI Holdings (NASDAQ:NMIH) last announced its quarterly earnings results on Tuesday, August 1st. The financial services provider reported $0.10 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.10. The company had revenue of $42.20 million during the quarter, compared to analyst estimates of $41.13 million. NMI Holdings had a return on equity of 5.95% and a net margin of 52.34%. The firm’s revenue was up 43.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.03 earnings per share. Equities analysts expect that NMI Holdings Inc will post $0.52 earnings per share for the current year.
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A number of analysts have recently issued reports on the stock. BidaskClub raised shares of NMI Holdings from a “sell” rating to a “hold” rating in a research note on Wednesday, August 9th. Keefe, Bruyette & Woods lowered shares of NMI Holdings from an “outperform” rating to a “market perform” rating and set a $13.00 target price for the company. in a research note on Monday, July 17th. Zacks Investment Research raised shares of NMI Holdings from a “sell” rating to a “hold” rating in a research note on Thursday, August 10th. Compass Point lowered shares of NMI Holdings from a “buy” rating to a “neutral” rating and set a $13.00 target price for the company. in a research note on Tuesday, August 8th. Finally, Deutsche Bank AG set a $15.00 target price on shares of NMI Holdings and gave the company a “buy” rating in a research note on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $12.67.
In other news, Director Regina Muehlhauser purchased 10,000 shares of the company’s stock in a transaction on Thursday, June 15th. The stock was bought at an average cost of $11.03 per share, for a total transaction of $110,300.00. Following the completion of the purchase, the director now directly owns 21,578 shares of the company’s stock, valued at approximately $238,005.34. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Bradley M. Shuster sold 89,227 shares of the company’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $11.81, for a total value of $1,053,770.87. The disclosure for this sale can be found here. Insiders have sold 159,227 shares of company stock valued at $1,873,071 over the last 90 days. 5.40% of the stock is currently owned by insiders.
NMI Holdings Company Profile
NMI Holdings, Inc (NMIH) provides private mortgage guaranty insurance through its insurance subsidiaries. The Company’s primary insurance subsidiary, National Mortgage Insurance Corporation (NMIC), is a mortgage insurance (MI) provider on loans purchased by the Government-sponsored enterprises (GSEs).
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