Summit Global Investments Has $1.45 Million Stock Position in NMI Holdings, Inc. (NASDAQ:NMIH)

Summit Global Investments increased its holdings in shares of NMI Holdings, Inc. (NASDAQ:NMIH) by 3.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 39,564 shares of the financial services provider’s stock after purchasing an additional 1,377 shares during the period. Summit Global Investments’ holdings in NMI were worth $1,454,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Teacher Retirement System of Texas grew its stake in NMI by 17.0% during the fourth quarter. Teacher Retirement System of Texas now owns 259,257 shares of the financial services provider’s stock worth $9,530,000 after purchasing an additional 37,744 shares during the period. Xponance Inc. grew its stake in NMI by 10.3% during the fourth quarter. Xponance Inc. now owns 5,636 shares of the financial services provider’s stock worth $207,000 after purchasing an additional 524 shares during the period. Cibc World Markets Corp acquired a new stake in NMI during the fourth quarter worth approximately $270,000. Royce & Associates LP grew its stake in NMI by 1.8% during the fourth quarter. Royce & Associates LP now owns 140,288 shares of the financial services provider’s stock worth $5,157,000 after purchasing an additional 2,417 shares during the period. Finally, First Eagle Investment Management LLC grew its stake in NMI by 5.9% during the fourth quarter. First Eagle Investment Management LLC now owns 438,919 shares of the financial services provider’s stock worth $16,135,000 after purchasing an additional 24,300 shares during the period. Institutional investors and hedge funds own 94.12% of the company’s stock.

Analysts Set New Price Targets

NMIH has been the subject of a number of research reports. UBS Group reduced their price objective on NMI from $42.00 to $41.00 and set a “neutral” rating for the company in a research note on Wednesday, February 19th. Keefe, Bruyette & Woods raised 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. Barclays cut NMI from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $48.00 to $41.00 in a research note on Monday, January 6th. Finally, JPMorgan Chase & Co. reduced their price objective on NMI from $46.00 to $41.00 and set an “overweight” rating for the company in a research note on Monday, December 9th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, NMI has a consensus rating of “Moderate Buy” and a consensus price target of $42.29.

NMI Stock Down 0.5 %

Shares of NASDAQ:NMIH opened at $35.29 on Friday. The stock has a market cap of $2.77 billion, a price-to-earnings ratio of 7.97, a PEG ratio of 1.41 and a beta of 1.02. The company has a quick ratio of 0.83, a current ratio of 0.60 and a debt-to-equity ratio of 0.19. NMI Holdings, Inc. has a 12-month low of $29.05 and a 12-month high of $42.49. The business’s 50 day moving average is $36.45 and its 200 day moving average is $38.11.

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

Insider Buying and Selling

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

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.