Primecap Management Co. CA Trims Stock Position in NMI Holdings, Inc. (NASDAQ:NMIH)

Primecap Management Co. CA trimmed its holdings in shares of NMI Holdings, Inc. (NASDAQ:NMIH) by 14.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 374,780 shares of the financial services provider’s stock after selling 61,520 shares during the period. Primecap Management Co. CA owned about 0.47% of NMI worth $13,777,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of NMI by 28.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 53,897 shares of the financial services provider’s stock worth $2,220,000 after acquiring an additional 11,860 shares during the last quarter. Moran Wealth Management LLC raised its stake in NMI by 33.6% in the 3rd quarter. Moran Wealth Management LLC now owns 14,244 shares of the financial services provider’s stock valued at $587,000 after purchasing an additional 3,585 shares during the last quarter. Intech Investment Management LLC boosted its stake in shares of NMI by 50.8% during the 3rd quarter. Intech Investment Management LLC now owns 35,011 shares of the financial services provider’s stock worth $1,442,000 after purchasing an additional 11,798 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of NMI by 2.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,064,081 shares of the financial services provider’s stock worth $43,829,000 after buying an additional 22,756 shares in the last quarter. Finally, Citigroup Inc. raised its position in shares of NMI by 95.4% in the third quarter. Citigroup Inc. now owns 129,180 shares of the financial services provider’s stock valued at $5,321,000 after buying an additional 63,058 shares during the last quarter. 94.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have commented on NMIH shares. JPMorgan Chase & Co. lowered their target price on shares of NMI from $46.00 to $41.00 and set an “overweight” rating for the company in a research note on Monday, December 9th. UBS Group dropped their target price on NMI from $42.00 to $41.00 and set a “neutral” rating for the company in a research note on Wednesday, February 19th. Barclays lowered NMI from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $48.00 to $41.00 in a research note on Monday, January 6th. Finally, Keefe, Bruyette & Woods raised shares of NMI from a “market perform” rating to an “outperform” rating and set a $43.00 price objective for the company in a research note on Monday, February 24th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $42.29.

NMI Stock Up 0.4 %

Shares of NASDAQ:NMIH opened at $35.42 on Thursday. NMI Holdings, Inc. has a 1 year low of $29.05 and a 1 year high of $42.49. The stock has a 50-day simple moving average of $36.44 and a 200-day simple moving average of $38.19. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.83 and a current ratio of 0.60. The stock has a market capitalization of $2.78 billion, a P/E ratio of 8.00, a PEG ratio of 1.41 and a beta of 1.02.

NMI (NASDAQ:NMIH) last announced its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $1.07 earnings per share for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.07). NMI had a return on equity of 17.33% and a net margin of 55.32%. Equities analysts forecast that NMI Holdings, Inc. will post 4.62 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Mohammad Nawaz Yousaf sold 1,083 shares of NMI stock in a transaction on Friday, February 21st. The shares were sold at an average price of $35.44, for a total value of $38,381.52. Following the completion of the sale, the executive vice president now owns 49,218 shares in the company, valued at approximately $1,744,285.92. The trade was a 2.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Norman Peter Fitzgerald sold 20,000 shares of the company’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $35.88, for a total transaction of $717,600.00. Following the completion of the sale, the executive vice president now directly owns 37,470 shares in the company, valued at $1,344,423.60. This represents a 34.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by insiders.

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.