Bank of New York Mellon Corp Sells 37,676 Shares of NMI Holdings Inc (NMIH)
Bank of New York Mellon Corp reduced its stake in shares of NMI Holdings Inc (NASDAQ:NMIH) by 7.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 444,284 shares of the financial services provider’s stock after selling 37,676 shares during the quarter. Bank of New York Mellon Corp owned 0.74% of NMI Holdings worth $5,086,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in NMIH. Nisa Investment Advisors LLC raised its position in NMI Holdings by 9.1% during the second quarter. Nisa Investment Advisors LLC now owns 9,580 shares of the financial services provider’s stock valued at $101,000 after acquiring an additional 800 shares in the last quarter. Two Sigma Securities LLC purchased a new position in NMI Holdings during the first quarter valued at approximately $131,000. Campbell & CO Investment Adviser LLC raised its position in NMI Holdings by 54.1% during the second quarter. Campbell & CO Investment Adviser LLC now owns 17,869 shares of the financial services provider’s stock valued at $205,000 after acquiring an additional 6,272 shares in the last quarter. O Shaughnessy Asset Management LLC purchased a new position in NMI Holdings during the first quarter valued at approximately $223,000. Finally, Bank of Montreal Can raised its position in NMI Holdings by 1,484.7% during the second quarter. Bank of Montreal Can now owns 19,524 shares of the financial services provider’s stock valued at $224,000 after acquiring an additional 18,292 shares in the last quarter. Institutional investors own 84.89% of the company’s stock.
Several research analysts recently weighed in on NMIH shares. Deutsche Bank AG set a $15.00 price target on NMI Holdings and gave the company a “buy” rating in a research report on Wednesday, August 2nd. ValuEngine upgraded NMI Holdings from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $13.00 price target on shares of NMI Holdings in a research report on Thursday, August 31st. Zacks Investment Research upgraded NMI Holdings from a “sell” rating to a “hold” rating in a research report on Thursday, August 10th. Finally, BidaskClub upgraded NMI Holdings from a “sell” rating to a “hold” rating in a research report on Wednesday, August 9th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $13.20.
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Shares of NMI Holdings Inc (NASDAQ NMIH) opened at 12.05 on Thursday. The stock has a 50 day moving average price of $11.41 and a 200-day moving average price of $11.41. NMI Holdings Inc has a 52-week low of $7.49 and a 52-week high of $12.70. The stock has a market capitalization of $721.34 million, a PE ratio of 9.59 and a beta of 0.69.
NMI Holdings (NASDAQ:NMIH) last posted its quarterly earnings results on Tuesday, August 1st. The financial services provider reported $0.10 EPS for the quarter, meeting the consensus estimate of $0.10. The business had revenue of $42.20 million during the quarter, compared to analysts’ expectations of $41.13 million. NMI Holdings had a return on equity of 5.95% and a net margin of 52.34%. The company’s quarterly revenue was up 43.1% compared to the same quarter last year. During the same period last year, the firm earned $0.03 EPS. On average, equities research analysts anticipate that NMI Holdings Inc will post $0.52 EPS for the current fiscal year.
In related news, CEO Bradley M. Shuster sold 89,227 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $11.81, for a total value of $1,053,770.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP William J. Leatherberry acquired 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 29th. The stock was purchased at an average cost of $10.65 per share, with a total value of $53,250.00. The disclosure for this purchase can be found here. Insiders sold a total of 149,227 shares of company stock valued at $1,760,571 over the last three months. Insiders own 5.40% of the company’s stock.
NMI Holdings Profile
NMI Holdings, Inc (NMIH) provides private mortgage guaranty insurance through its insurance subsidiaries. The Company’s primary insurance subsidiary, National Mortgage Insurance Corporation (NMIC), is a mortgage insurance (MI) provider on loans purchased by the Government-sponsored enterprises (GSEs).
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