Hancock Whitney Corp Boosts Holdings in NMI Holdings, Inc. (NASDAQ:NMIH)

Hancock Whitney Corp raised its stake in shares of NMI Holdings, Inc. (NASDAQ:NMIH) by 28.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 28,493 shares of the financial services provider’s stock after purchasing an additional 6,395 shares during the period. Hancock Whitney Corp’s holdings in NMI were worth $970,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Capital International Investors purchased a new position in shares of NMI in the first quarter valued at $32,270,000. Donald Smith & CO. Inc. bought a new stake in shares of NMI during the second quarter worth $29,708,000. Goldentree Asset Management LP bought a new stake in shares of NMI during the first quarter valued at approximately $22,600,000. Norges Bank purchased a new stake in shares of NMI in the 4th quarter worth $20,006,000. Finally, F M Investments LLC purchased a new stake in NMI in the second quarter worth about $12,447,000. 94.12% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

NMIH has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods raised their price target on shares of NMI from $37.00 to $40.00 and gave the company a “market perform” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. raised their price target on shares of NMI from $40.00 to $42.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Truist Financial upped their target price on NMI from $37.00 to $47.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Royal Bank of Canada upgraded shares of NMI from a “sector perform” rating to an “outperform” rating and raised their price target for the company from $40.00 to $48.00 in a research report on Wednesday, September 18th. Finally, StockNews.com lowered NMI from a “buy” rating to a “hold” rating in a research report on Wednesday, August 21st. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.00.

NMI Price Performance

Shares of NASDAQ NMIH opened at $40.84 on Monday. The company has a market cap of $3.28 billion, a PE ratio of 10.11, a P/E/G ratio of 0.89 and a beta of 1.12. The stock has a fifty day moving average price of $39.05 and a 200 day moving average price of $34.58. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.67 and a quick ratio of 0.67. NMI Holdings, Inc. has a 1-year low of $25.62 and a 1-year high of $42.49.

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

Insider Buying and Selling

In related news, insider William J. Leatherberry sold 3,000 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $40.07, for a total transaction of $120,210.00. Following the completion of the sale, the insider now directly owns 153,689 shares of the company’s stock, valued at approximately $6,158,318.23. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Michael J. Embler sold 26,008 shares of the company’s stock in a transaction dated 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 owns 61,607 shares in the company, valued at $2,424,235.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider William J. Leatherberry sold 3,000 shares of NMI stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $40.07, for a total transaction of $120,210.00. Following the completion of the sale, the insider now owns 153,689 shares in the company, valued at $6,158,318.23. The disclosure for this sale can be found here. Corporate 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.