Louisiana State Employees Retirement System Grows Stake in NMI Holdings Inc (NMIH)

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Louisiana State Employees Retirement System increased its stake in shares of NMI Holdings Inc (NASDAQ:NMIH) by 11.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 29,000 shares of the financial services provider’s stock after purchasing an additional 2,900 shares during the period. Louisiana State Employees Retirement System’s holdings in NMI were worth $657,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also made changes to their positions in NMIH. Wells Fargo & Company MN increased its holdings in NMI by 2.6% during the first quarter. Wells Fargo & Company MN now owns 379,769 shares of the financial services provider’s stock valued at $6,285,000 after buying an additional 9,590 shares during the last quarter. Schwab Charles Investment Management Inc. increased its holdings in NMI by 8.9% during the first quarter. Schwab Charles Investment Management Inc. now owns 284,624 shares of the financial services provider’s stock valued at $4,711,000 after buying an additional 23,189 shares during the last quarter. Northern Trust Corp increased its holdings in NMI by 2.0% during the first quarter. Northern Trust Corp now owns 642,195 shares of the financial services provider’s stock valued at $10,629,000 after buying an additional 12,897 shares during the last quarter. BlackRock Inc. increased its holdings in NMI by 7.2% during the first quarter. BlackRock Inc. now owns 7,711,720 shares of the financial services provider’s stock valued at $127,629,000 after buying an additional 518,913 shares during the last quarter. Finally, California Public Employees Retirement System increased its holdings in NMI by 94.3% during the first quarter. California Public Employees Retirement System now owns 87,771 shares of the financial services provider’s stock valued at $1,453,000 after buying an additional 42,602 shares during the last quarter. 90.48% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ NMIH opened at $19.50 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.27 and a quick ratio of 0.27. The firm has a market capitalization of $1.33 billion, a PE ratio of 34.21 and a beta of 1.11. NMI Holdings Inc has a 1 year low of $13.35 and a 1 year high of $24.50.

NMI (NASDAQ:NMIH) last announced its quarterly earnings data on Wednesday, August 1st. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.05. The firm had revenue of $67.45 million during the quarter. NMI had a net margin of 25.23% and a return on equity of 13.46%. As a group, research analysts predict that NMI Holdings Inc will post 1.55 earnings per share for the current fiscal year.

In other news, Director James G. Jones sold 18,000 shares of the stock in a transaction on Wednesday, August 22nd. The shares were sold at an average price of $22.14, for a total value of $398,520.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP William J. Leatherberry sold 45,000 shares of the company’s stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $21.80, for a total transaction of $981,000.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 438,220 shares of company stock valued at $9,503,491. Corporate insiders own 5.70% of the company’s stock.

A number of brokerages have commented on NMIH. BidaskClub cut shares of NMI from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 30th. Susquehanna Bancshares increased their price objective on shares of NMI from $21.00 to $24.00 and gave the stock a “buy” rating in a research note on Thursday, August 2nd. Zacks Investment Research cut shares of NMI from a “hold” rating to a “sell” rating in a research note on Wednesday, July 11th. Finally, Keefe, Bruyette & Woods cut shares of NMI from an “outperform” rating to a “market perform” rating and set a $23.50 price objective for the company. in a research note on Monday, August 6th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. NMI currently has an average rating of “Buy” and an average target price of $23.61.

NMI Company Profile

NMI Holdings, Inc, through its subsidiaries, provides private mortgage guaranty insurance services in the United States. The company offers mortgage insurance; reinsurance on loans; 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.

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Institutional Ownership by Quarter for NMI (NASDAQ:NMIH)

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