South Dakota Investment Council Cuts Stock Position in NMI Holdings Inc $NMIH

South Dakota Investment Council lessened its holdings in NMI Holdings Inc (NASDAQ:NMIH) by 0.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 228,663 shares of the financial services provider’s stock after selling 1,505 shares during the period. South Dakota Investment Council’s holdings in NMI were worth $9,647,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of NMIH. GAMMA Investing LLC grew its stake in shares of NMI by 104.2% in the 1st quarter. GAMMA Investing LLC now owns 1,564 shares of the financial services provider’s stock worth $56,000 after buying an additional 798 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of NMI by 90.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 11,543 shares of the financial services provider’s stock valued at $416,000 after acquiring an additional 5,492 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in NMI by 53.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 19,012 shares of the financial services provider’s stock worth $696,000 after acquiring an additional 6,659 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in NMI by 18.2% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,800 shares of the financial services provider’s stock worth $281,000 after acquiring an additional 1,200 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in NMI by 2.3% during the first quarter. Principal Financial Group Inc. now owns 462,641 shares of the financial services provider’s stock worth $16,678,000 after acquiring an additional 10,377 shares during the last quarter. Hedge funds and other institutional investors own 94.12% of the company’s stock.

Insider Activity

In other news, Director Steven Scheid sold 19,926 shares of the business’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $39.31, for a total transaction of $783,291.06. Following the completion of the sale, the director directly owned 78,960 shares of the company’s stock, valued at approximately $3,103,917.60. The trade was a 20.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 3.00% of the company’s stock.

Analysts Set New Price Targets

NMIH has been the subject of several analyst reports. Wall Street Zen lowered NMI from a “buy” rating to a “hold” rating in a research note on Saturday, July 12th. Barclays restated a “cautious” rating on shares of NMI in a report on Monday, October 6th. Keefe, Bruyette & Woods downgraded NMI from an “outperform” rating to a “market perform” rating and raised their price target for the stock from $42.00 to $43.00 in a research report on Monday, July 7th. JPMorgan Chase & Co. cut their price objective on shares of NMI from $44.00 to $43.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 7th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of NMI in a research note on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, NMI presently has a consensus rating of “Moderate Buy” and an average price target of $42.33.

NMI Price Performance

Shares of NMIH stock opened at $36.43 on Monday. The stock has a 50 day moving average price of $37.93 and a 200 day moving average price of $38.38. NMI Holdings Inc has a 52-week low of $31.90 and a 52-week high of $43.20. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.74 and a current ratio of 0.74. The firm has a market capitalization of $2.83 billion, a P/E ratio of 7.73, a P/E/G ratio of 1.05 and a beta of 0.63.

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.