Amalgamated Bank Decreases Stake in NMI Holdings, Inc. (NASDAQ:NMIH)

Amalgamated Bank lessened its holdings in shares of NMI Holdings, Inc. (NASDAQ:NMIH) by 3.1% in the 2nd quarter, Holdings Channel reports. The fund owned 24,509 shares of the financial services provider’s stock after selling 797 shares during the quarter. Amalgamated Bank’s holdings in NMI were worth $834,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of NMIH. UniSuper Management Pty Ltd purchased a new stake in NMI in the 1st quarter valued at $507,000. First Eagle Investment Management LLC boosted its stake in NMI by 17.6% during the first quarter. First Eagle Investment Management LLC now owns 403,019 shares of the financial services provider’s stock worth $13,034,000 after buying an additional 60,200 shares during the period. Leuthold Group LLC acquired a new stake in shares of NMI during the first quarter valued at about $2,987,000. Norges Bank purchased a new stake in shares of NMI in the 4th quarter valued at approximately $20,006,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of NMI in the 1st quarter worth approximately $532,000. 94.12% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on NMIH shares. Truist Financial increased their price target on shares of NMI from $37.00 to $47.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Barclays raised their price objective on NMI from $41.00 to $43.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. StockNews.com lowered shares of NMI from a “buy” rating to a “hold” rating in a research note on Wednesday, August 21st. JPMorgan Chase & Co. raised their price target on NMI from $40.00 to $42.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Finally, Keefe, Bruyette & Woods upped their price objective on NMI from $37.00 to $40.00 and gave the company a “market perform” rating in a research note on Thursday, August 1st. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $41.00.

Insider Transactions at NMI

In other news, insider William J. Leatherberry sold 3,000 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $40.07, for a total value of $120,210.00. Following the completion of the transaction, the insider now owns 153,689 shares in the company, valued at approximately $6,158,318.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other NMI news, Director Michael J. Embler sold 26,008 shares of the company’s stock in a transaction 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 sale, the director now owns 61,607 shares of the company’s stock, valued at $2,424,235.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider William J. Leatherberry sold 3,000 shares of the firm’s 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 completion of the transaction, the insider now owns 153,689 shares of the company’s stock, valued at approximately $6,158,318.23. The disclosure for this sale can be found here. Corporate insiders own 2.70% of the company’s stock.

NMI Price Performance

Shares of NMIH opened at $41.03 on Friday. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.20. The stock’s 50 day moving average is $39.34 and its two-hundred day moving average is $34.84. NMI Holdings, Inc. has a twelve month low of $25.62 and a twelve month high of $42.49. The firm has a market capitalization of $3.29 billion, a PE ratio of 10.16, a P/E/G ratio of 0.94 and a beta of 1.12.

NMI (NASDAQ:NMIH) last posted 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 firm had revenue of $162.12 million for the quarter, compared to the consensus estimate of $138.49 million. During the same period in the previous year, the business earned $0.95 earnings per share. The company’s revenue for the quarter was up 13.6% compared to the same quarter last year. Research analysts anticipate that NMI Holdings, Inc. will post 4.5 earnings per share for the current year.

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.