Chase Investment Counsel Corp Reduces Position in NMI Holdings, Inc. (NASDAQ:NMIH)

Chase Investment Counsel Corp cut its stake in shares of NMI Holdings, Inc. (NASDAQ:NMIH) by 68.2% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 29,012 shares of the financial services provider’s stock after selling 62,351 shares during the quarter. Chase Investment Counsel Corp’s holdings in NMI were worth $1,066,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Principal Securities Inc. grew its holdings in shares of NMI by 66.5% during the fourth quarter. Principal Securities Inc. now owns 716 shares of the financial services provider’s stock valued at $26,000 after buying an additional 286 shares during the last quarter. KBC Group NV grew its holdings in shares of NMI by 38.3% during the fourth quarter. KBC Group NV now owns 3,221 shares of the financial services provider’s stock valued at $118,000 after buying an additional 892 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in shares of NMI by 989.9% during the third quarter. Farther Finance Advisors LLC now owns 3,248 shares of the financial services provider’s stock valued at $134,000 after buying an additional 2,950 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. grew its holdings in shares of NMI by 21.3% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,810 shares of the financial services provider’s stock valued at $198,000 after buying an additional 846 shares during the last quarter. Finally, R Squared Ltd purchased a new stake in shares of NMI during the fourth quarter valued at $203,000. 94.12% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

NMI Trading Up 1.8 %

Shares of NMI stock opened at $36.44 on Friday. The firm has a 50-day simple moving average of $36.78 and a two-hundred day simple moving average of $38.54. The company has a market cap of $2.86 billion, a P/E ratio of 8.23, a price-to-earnings-growth ratio of 1.41 and a beta of 1.12. NMI Holdings, Inc. has a fifty-two week low of $29.05 and a fifty-two week high of $42.49. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.83 and a current ratio of 0.60.

NMI (NASDAQ:NMIH) last issued its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $1.07 earnings per share for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.07). NMI had a return on equity of 17.33% and a net margin of 55.32%. As a group, equities analysts predict that NMI Holdings, Inc. will post 4.62 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, 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 sale, the executive vice president now owns 49,218 shares of the company’s stock, valued at $1,744,285.92. The trade was a 2.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Norman Peter Fitzgerald sold 20,000 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $1,344,423.60. This represents a 34.80 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.70% of the company’s stock.

About NMI

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.