Illumine Investment Management LLC Invests $479,000 in NMI Holdings, Inc. (NASDAQ:NMIH)

Illumine Investment Management LLC acquired a new position in shares of NMI Holdings, Inc. (NASDAQ:NMIH) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 13,035 shares of the financial services provider’s stock, valued at approximately $479,000.

Several other hedge funds have also modified their holdings of NMIH. Principal Securities Inc. raised its holdings in NMI by 66.5% during the 4th 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 period. Janney Montgomery Scott LLC raised its holdings in NMI by 2.2% during the 4th quarter. Janney Montgomery Scott LLC now owns 14,883 shares of the financial services provider’s stock valued at $547,000 after buying an additional 320 shares during the period. Tealwood Asset Management Inc. raised its holdings in NMI by 1.2% during the 4th quarter. Tealwood Asset Management Inc. now owns 32,192 shares of the financial services provider’s stock valued at $1,183,000 after buying an additional 376 shares during the period. Illinois Municipal Retirement Fund increased its stake in NMI by 1.3% in the fourth quarter. Illinois Municipal Retirement Fund now owns 44,032 shares of the financial services provider’s stock worth $1,619,000 after purchasing an additional 566 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. increased its stake in NMI by 21.3% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,810 shares of the financial services provider’s stock worth $198,000 after purchasing an additional 846 shares during the period. 94.12% of the stock is owned by hedge funds and other institutional investors.

NMI Price Performance

Shares of NMIH stock opened at $35.80 on Friday. NMI Holdings, Inc. has a 1-year low of $29.05 and a 1-year high of $42.49. The stock’s 50-day moving average is $36.78 and its 200 day moving average is $38.54. The company has a market cap of $2.81 billion, a P/E ratio of 8.08, a PEG ratio of 1.41 and a beta of 1.12. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.60 and a quick ratio of 0.83.

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

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at NMI

In other news, EVP Mohammad Nawaz Yousaf sold 1,083 shares of the firm’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $35.44, for a total value of $38,381.52. Following the completion of the transaction, the executive vice president now directly owns 49,218 shares in the company, valued at $1,744,285.92. This trade represents a 2.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Norman Peter Fitzgerald sold 20,000 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $35.88, for a total value of $717,600.00. Following the completion of the transaction, the executive vice president now owns 37,470 shares of the company’s stock, valued at approximately $1,344,423.60. The trade was a 34.80 % 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 company insiders.

NMI Company 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.