B. Riley Financial Inc. bought a new stake in NMI Holdings Inc (NASDAQ:NMIH) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 85,095 shares of the financial services provider’s stock, valued at approximately $1,447,000.
Several other institutional investors and hedge funds have also made changes to their positions in NMIH. BlackRock Inc. raised its position in shares of NMI by 82.9% in the 4th quarter. BlackRock Inc. now owns 7,192,807 shares of the financial services provider’s stock valued at $122,278,000 after purchasing an additional 3,260,761 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of NMI by 22.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,445,052 shares of the financial services provider’s stock valued at $27,996,000 after acquiring an additional 446,918 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of NMI by 173.4% in the 4th quarter. Bank of New York Mellon Corp now owns 672,977 shares of the financial services provider’s stock valued at $11,441,000 after acquiring an additional 426,860 shares during the last quarter. Chicago Equity Partners LLC bought a new stake in shares of NMI in the 4th quarter valued at approximately $6,698,000. Finally, Vanguard Group Inc. increased its holdings in shares of NMI by 10.3% in the 2nd quarter. Vanguard Group Inc. now owns 2,569,591 shares of the financial services provider’s stock valued at $29,421,000 after acquiring an additional 239,387 shares during the last quarter. 88.14% of the stock is currently owned by institutional investors.
A number of equities research analysts have recently weighed in on NMIH shares. Deutsche Bank upgraded NMI from a “hold” rating to a “buy” rating and boosted their price target for the company from $17.00 to $24.00 in a report on Monday, January 8th. BTIG Research reiterated a “buy” rating and issued a $17.00 price target on shares of NMI in a report on Sunday, November 5th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $19.50 price target on shares of NMI in a report on Friday, November 3rd. ValuEngine downgraded NMI from a “buy” rating to a “hold” rating in a report on Monday, December 4th. Finally, BidaskClub upgraded NMI from a “buy” rating to a “strong-buy” rating in a report on Thursday, January 18th. Eight analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. NMI has a consensus rating of “Buy” and an average price target of $21.07.
NMI (NASDAQ:NMIH) last issued its quarterly earnings data on Thursday, February 15th. The financial services provider reported $0.22 EPS for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.05. The firm had revenue of $54.54 million during the quarter, compared to the consensus estimate of $51.32 million. NMI had a return on equity of 7.89% and a net margin of 12.07%. The firm’s revenue was up 48.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.04 EPS. analysts anticipate that NMI Holdings Inc will post 1.37 earnings per share for the current year.
In related news, COO Claudia J. Merkle sold 15,000 shares of the company’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $17.80, for a total transaction of $267,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Patrick L. Mathis sold 10,000 shares of the company’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $16.99, for a total value of $169,900.00. The disclosure for this sale can be found here. 5.40% of the stock is owned by corporate insiders.
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NMI 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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