Swiss National Bank raised its stake in NMI Holdings, Inc. (NASDAQ:NMIH) by 1.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 193,774 shares of the financial services provider’s stock after purchasing an additional 2,000 shares during the quarter. Swiss National Bank owned 0.23% of NMI worth $4,581,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of NMI during the fourth quarter worth about $42,523,000. BlackRock Inc. increased its position in NMI by 4.9% during the 4th quarter. BlackRock Inc. now owns 12,629,836 shares of the financial services provider’s stock worth $286,065,000 after purchasing an additional 589,686 shares during the period. Russell Investments Group Ltd. increased its position in NMI by 10.4% during the 4th quarter. Russell Investments Group Ltd. now owns 2,900,148 shares of the financial services provider’s stock worth $65,684,000 after purchasing an additional 274,175 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of NMI during the 4th quarter worth approximately $5,130,000. Finally, Canada Pension Plan Investment Board purchased a new stake in shares of NMI in the fourth quarter valued at approximately $4,559,000. 92.43% of the stock is currently owned by institutional investors and hedge funds.
NMIH has been the subject of a number of recent analyst reports. Zacks Investment Research raised NMI from a “hold” rating to a “buy” rating and set a $26.00 target price for the company in a report on Wednesday, March 24th. Citigroup boosted their price objective on shares of NMI from $29.00 to $32.00 in a report on Wednesday, May 5th. BTIG Research restated a “buy” rating on shares of NMI in a research report on Tuesday. TheStreet raised NMI from a “c+” rating to a “b-” rating in a research report on Thursday, March 18th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on NMI from $27.00 to $30.00 and gave the company a “buy” rating in a research report on Wednesday, May 5th. Five equities research analysts have rated the stock with a buy rating, The stock presently has a consensus rating of “Buy” and a consensus target price of $29.36.
NMI (NASDAQ:NMIH) last announced its quarterly earnings results on Tuesday, May 4th. The financial services provider reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.02. NMI had a return on equity of 13.12% and a net margin of 37.70%. The firm had revenue of $115.19 million during the quarter, compared to the consensus estimate of $113.50 million. During the same period in the prior year, the firm earned $0.75 EPS. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. On average, equities analysts expect that NMI Holdings, Inc. will post 2.55 earnings per share for the current fiscal year.
In related news, SVP Julie Norberg sold 2,933 shares of the stock in a transaction dated Thursday, March 18th. The stock was sold at an average price of $25.81, for a total value of $75,700.73. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Bradley M. Shuster sold 36,628 shares of the firm’s stock in a transaction that occurred on Thursday, April 1st. The shares were sold at an average price of $23.35, for a total value of $855,263.80. The disclosure for this sale can be found here. Insiders sold 104,345 shares of company stock valued at $2,491,793 over the last 90 days. Insiders own 2.70% of the company’s stock.
NMI Holdings, Inc, through its subsidiaries, provides private mortgage guaranty insurance services in the United States. The company offers mortgage insurance services; 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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