Principal Financial Group Inc. Has $17.98 Million Stock Holdings in NMI Holdings, Inc. (NASDAQ:NMIH)

Principal Financial Group Inc. reduced its stake in NMI Holdings, Inc. (NASDAQ:NMIH) by 1.5% during the third quarter, Holdings Channel.com reports. The fund owned 436,396 shares of the financial services provider’s stock after selling 6,469 shares during the period. Principal Financial Group Inc.’s holdings in NMI were worth $17,975,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in NMIH. GAMMA Investing LLC raised its holdings in NMI by 57.2% during the 3rd quarter. GAMMA Investing LLC now owns 728 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 265 shares during the last quarter. Opal Wealth Advisors LLC acquired a new stake in shares of NMI during the second quarter worth $29,000. Quarry LP increased its position in shares of NMI by 135.1% during the second quarter. Quarry LP now owns 858 shares of the financial services provider’s stock worth $29,000 after buying an additional 493 shares during the period. USA Financial Formulas bought a new position in NMI during the third quarter worth $57,000. Finally, Picton Mahoney Asset Management acquired a new position in NMI in the second quarter valued at $63,000. 94.12% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on NMIH. JPMorgan Chase & Co. increased their price target on NMI from $42.00 to $46.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Truist Financial raised 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. Keefe, Bruyette & Woods boosted their price target on NMI from $37.00 to $40.00 and gave the company a “market perform” rating in a research note on Thursday, August 1st. StockNews.com downgraded shares of NMI from a “buy” rating to a “hold” rating in a research report on Wednesday, August 21st. Finally, Royal Bank of Canada dropped their target price on shares of NMI from $48.00 to $47.00 and set an “outperform” rating on the stock in a research report on Thursday, November 7th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, NMI has an average rating of “Moderate Buy” and a consensus price target of $43.29.

NMI Stock Performance

NASDAQ NMIH opened at $37.37 on Friday. The company has a market cap of $2.96 billion, a P/E ratio of 8.55, a PEG ratio of 0.94 and a beta of 1.13. The company has a fifty day simple moving average of $40.02 and a 200 day simple moving average of $37.00. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.19. NMI Holdings, Inc. has a 12-month low of $27.00 and a 12-month high of $42.49.

Insider Buying and Selling at NMI

In other NMI news, insider William J. Leatherberry sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was 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 trade was a 1.91 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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.