Illinois Municipal Retirement Fund Has $1.62 Million Stake in NMI Holdings, Inc. (NASDAQ:NMIH)

Illinois Municipal Retirement Fund lifted its stake in NMI Holdings, Inc. (NASDAQ:NMIH) by 1.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 44,032 shares of the financial services provider’s stock after acquiring an additional 566 shares during the period. Illinois Municipal Retirement Fund’s holdings in NMI were worth $1,619,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NMIH. Hudson Edge Investment Partners Inc. lifted its stake in shares of NMI by 27.3% in the fourth quarter. Hudson Edge Investment Partners Inc. now owns 25,568 shares of the financial services provider’s stock worth $940,000 after buying an additional 5,490 shares during the last quarter. Hussman Strategic Advisors Inc. bought a new position in NMI in the 4th quarter worth $386,000. Handelsbanken Fonder AB lifted its position in NMI by 15.6% during the 4th quarter. Handelsbanken Fonder AB now owns 19,300 shares of the financial services provider’s stock worth $709,000 after acquiring an additional 2,600 shares during the last quarter. New York State Common Retirement Fund boosted its holdings in NMI by 196.3% during the fourth quarter. New York State Common Retirement Fund now owns 75,013 shares of the financial services provider’s stock valued at $2,757,000 after acquiring an additional 49,700 shares during the period. Finally, Principal Financial Group Inc. grew its position in shares of NMI by 3.6% in the fourth quarter. Principal Financial Group Inc. now owns 452,264 shares of the financial services provider’s stock valued at $16,625,000 after purchasing an additional 15,868 shares during the last quarter. 94.12% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at NMI

In related news, EVP Norman Peter Fitzgerald sold 20,000 shares of the stock in a transaction dated 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 owns 37,470 shares in the company, valued at $1,344,423.60. This trade represents a 34.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Mohammad Nawaz Yousaf sold 1,083 shares of the business’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $35.44, for a total transaction of $38,381.52. Following the completion of the transaction, the executive vice president now owns 49,218 shares in the company, valued at approximately $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. 2.70% of the stock is currently owned by insiders.

NMI Stock Performance

NMIH opened at $36.44 on Friday. The stock’s 50 day simple moving average is $36.78 and its 200-day simple moving average is $38.54. The company has a current ratio of 0.60, a quick ratio of 0.83 and a debt-to-equity ratio of 0.19. The stock has a market cap of $2.86 billion, a PE ratio of 8.23, a P/E/G ratio of 1.41 and a beta of 1.12. NMI Holdings, Inc. has a 1 year low of $29.05 and a 1 year high of $42.49.

NMI (NASDAQ:NMIH) last announced its quarterly 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%. Sell-side analysts forecast that NMI Holdings, Inc. will post 4.62 EPS for the current year.

Wall Street Analyst Weigh In

NMIH has been the subject of several research analyst reports. UBS Group cut their price objective on NMI from $42.00 to $41.00 and set a “neutral” rating for the company in a research report on Wednesday, February 19th. Royal Bank of Canada cut their price target on NMI from $48.00 to $47.00 and set an “outperform” rating for the company in a report on Thursday, November 7th. Keefe, Bruyette & Woods upgraded shares of NMI from a “market perform” rating to an “outperform” rating and set a $43.00 price objective on the stock in a research note on Monday, February 24th. Barclays cut shares of NMI from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $48.00 to $41.00 in a research note on Monday, January 6th. Finally, JPMorgan Chase & Co. decreased their price target on shares of NMI from $46.00 to $41.00 and set an “overweight” rating on the stock in a research report on Monday, December 9th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, NMI has an average rating of “Moderate Buy” and an average target price of $42.29.

NMI 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.