NMI Holdings, Inc. (NASDAQ:NMIH) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its holdings in shares of NMI Holdings, Inc. (NASDAQ:NMIH) by 3.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 442,865 shares of the financial services provider’s stock after selling 17,293 shares during the quarter. Principal Financial Group Inc. owned 0.55% of NMI worth $15,075,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NMIH. Capital International Investors acquired a new stake in shares of NMI during the 1st quarter worth about $32,270,000. Goldentree Asset Management LP acquired a new stake in shares of NMI during the 1st quarter worth about $22,600,000. Norges Bank acquired a new stake in shares of NMI during the 4th quarter worth about $20,006,000. F M Investments LLC acquired a new stake in shares of NMI during the 2nd quarter worth about $12,447,000. Finally, Vanguard Group Inc. increased its position in shares of NMI by 5.3% during the 1st quarter. Vanguard Group Inc. now owns 7,168,138 shares of the financial services provider’s stock worth $231,818,000 after purchasing an additional 358,930 shares during the last quarter. 94.12% of the stock is owned by institutional investors and hedge funds.

NMI Stock Performance

Shares of NMIH opened at $41.55 on Thursday. The stock has a 50-day simple moving average of $37.34 and a 200-day simple moving average of $33.55. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.67 and a current ratio of 0.67. The stock has a market capitalization of $3.34 billion, a PE ratio of 10.28, a PEG ratio of 0.93 and a beta of 1.09. NMI Holdings, Inc. has a 1 year low of $25.62 and a 1 year high of $42.06.

NMI (NASDAQ:NMIH) last announced its quarterly earnings data on Tuesday, July 30th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.15. The business had revenue of $162.12 million during the quarter, compared to analysts’ expectations of $138.49 million. NMI had a return on equity of 18.29% and a net margin of 56.40%. The business’s quarterly revenue was up 13.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.95 EPS. On average, analysts predict that NMI Holdings, Inc. will post 4.5 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. StockNews.com downgraded NMI from a “buy” rating to a “hold” rating in a research report on Wednesday, August 21st. Keefe, Bruyette & Woods lifted their target price on NMI from $37.00 to $40.00 and gave the company a “market perform” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. lifted their target price on NMI from $40.00 to $42.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. UBS Group downgraded NMI from a “buy” rating to a “neutral” rating and lifted their target price for the company from $37.00 to $39.00 in a research report on Wednesday, May 22nd. Finally, Royal Bank of Canada lifted their target price on NMI from $34.00 to $40.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 31st. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $40.00.

Insider Activity

In related news, Director Michael J. Embler sold 26,008 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $39.35, for a total value of $1,023,414.80. Following the completion of the transaction, the director now directly owns 61,607 shares of the company’s stock, valued at $2,424,235.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider William J. Leatherberry sold 3,000 shares of the stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $40.07, for a total value of $120,210.00. Following the transaction, the insider now directly owns 153,689 shares of the company’s stock, valued at approximately $6,158,318.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Michael J. Embler sold 26,008 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $39.35, for a total transaction of $1,023,414.80. Following the completion of the transaction, the director now directly owns 61,607 shares in the company, valued at $2,424,235.45. The disclosure for this sale can be found here. Company insiders own 2.70% of the company’s stock.

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.