Teacher Retirement System of Texas Cuts Position in NMI Holdings Inc $NMIH

Teacher Retirement System of Texas reduced its position in shares of NMI Holdings Inc (NASDAQ:NMIH) by 9.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 151,798 shares of the financial services provider’s stock after selling 16,061 shares during the period. Teacher Retirement System of Texas owned about 0.19% of NMI worth $6,404,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of NMIH. Nuveen LLC acquired a new position in NMI during the 1st quarter worth about $44,886,000. Millennium Management LLC increased its stake in NMI by 209.9% during the first quarter. Millennium Management LLC now owns 1,432,950 shares of the financial services provider’s stock worth $51,658,000 after purchasing an additional 970,551 shares during the period. Public Sector Pension Investment Board increased its stake in NMI by 176.2% during the first quarter. Public Sector Pension Investment Board now owns 544,723 shares of the financial services provider’s stock worth $19,637,000 after purchasing an additional 347,524 shares during the period. Aberdeen Group plc lifted its position in shares of NMI by 134.2% during the first quarter. Aberdeen Group plc now owns 517,515 shares of the financial services provider’s stock worth $18,656,000 after purchasing an additional 296,557 shares in the last quarter. Finally, Allianz Asset Management GmbH boosted its stake in shares of NMI by 76.4% in the second quarter. Allianz Asset Management GmbH now owns 640,158 shares of the financial services provider’s stock valued at $27,008,000 after purchasing an additional 277,318 shares during the period. Hedge funds and other institutional investors own 94.12% of the company’s stock.

Insider Buying and Selling at NMI

In other news, Director Steven Scheid sold 19,926 shares of the company’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $39.31, for a total value of $783,291.06. Following the completion of the transaction, the director owned 78,960 shares in the company, valued at approximately $3,103,917.60. This represents a 20.15% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 3.00% of the company’s stock.

NMI Stock Performance

NASDAQ:NMIH opened at $36.35 on Friday. 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 0.74 and a quick ratio of 0.74. The firm has a market capitalization of $2.82 billion, a PE ratio of 7.72, a price-to-earnings-growth ratio of 1.03 and a beta of 0.56. The business’s fifty day moving average price is $38.01 and its 200 day moving average price is $38.30.

NMI (NASDAQ:NMIH) last released its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.06. NMI had a return on equity of 16.51% and a net margin of 55.57%.The business had revenue of $149.07 million during the quarter, compared to analysts’ expectations of $173.39 million. During the same period in the prior year, the firm posted $1.20 EPS. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. On average, sell-side analysts anticipate that NMI Holdings Inc will post 4.62 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of NMI in a research note on Wednesday, October 8th. JPMorgan Chase & Co. cut their price objective on NMI from $44.00 to $43.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 7th. Barclays reiterated a “cautious” rating on shares of NMI in a research note on Monday, October 6th. Wall Street Zen cut NMI from a “buy” rating to a “hold” rating in a research note on Saturday, July 12th. Finally, Keefe, Bruyette & Woods lowered NMI from an “outperform” rating to a “market perform” rating and increased their price target for the company from $42.00 to $43.00 in a research report on Monday, July 7th. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $42.33.

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.