Legato Capital Management LLC Purchases New Stake in NMI Holdings Inc $NMIH

Legato Capital Management LLC purchased a new stake in shares of NMI Holdings Inc (NASDAQ:NMIH) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 13,659 shares of the financial services provider’s stock, valued at approximately $557,000.

Several other institutional investors also recently added to or reduced their stakes in NMIH. Royal Bank of Canada grew its position in NMI by 20.4% during the first quarter. Royal Bank of Canada now owns 117,065 shares of the financial services provider’s stock valued at $4,221,000 after buying an additional 19,857 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in NMI by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,684 shares of the financial services provider’s stock worth $1,683,000 after purchasing an additional 2,030 shares during the period. NewEdge Advisors LLC bought a new position in NMI during the first quarter worth about $256,000. Ashton Thomas Private Wealth LLC bought a new position in NMI during the first quarter worth about $203,000. Finally, Jane Street Group LLC boosted its position in NMI by 1,312.9% during the first quarter. Jane Street Group LLC now owns 224,152 shares of the financial services provider’s stock worth $8,081,000 after purchasing an additional 208,287 shares during the period. Institutional investors own 94.12% of the company’s stock.

Insider Transactions at NMI

In other news, Director Michael Curry Montgomery sold 1,554 shares of the stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $37.90, for a total value of $58,896.60. Following the sale, the director directly owned 69,026 shares of the company’s stock, valued at approximately $2,616,085.40. This represents a 2.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Bradley M. Shuster sold 18,953 shares of the stock in a transaction dated Tuesday, March 24th. The stock was sold at an average price of $37.35, for a total transaction of $707,894.55. Following the completion of the sale, the chairman directly owned 415,411 shares in the company, valued at approximately $15,515,600.85. The trade was a 4.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 97,466 shares of company stock worth $3,700,103. Insiders own 2.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on NMIH shares. Royal Bank Of Canada started coverage on shares of NMI in a research report on Friday. They set an “outperform” rating and a $46.00 target price for the company. Keefe, Bruyette & Woods cut their target price on shares of NMI from $50.00 to $46.00 and set an “outperform” rating for the company in a research report on Monday, May 4th. UBS Group set a $46.00 target price on shares of NMI in a research report on Friday. JPMorgan Chase & Co. cut their target price on shares of NMI from $44.00 to $43.00 and set an “overweight” rating for the company in a research report on Thursday, April 9th. Finally, Barclays cut their target price on shares of NMI from $44.00 to $43.00 and set an “equal weight” rating for the company in a research report on Monday, April 6th. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.80.

NMI Trading Down 0.7%

Shares of NMI stock opened at $37.15 on Wednesday. NMI Holdings Inc has a 12-month low of $34.84 and a 12-month high of $43.20. The company has a market cap of $2.82 billion, a price-to-earnings ratio of 7.57, a PEG ratio of 1.29 and a beta of 0.59. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.16. The company’s 50-day moving average price is $38.37 and its 200-day moving average price is $38.77.

NMI (NASDAQ:NMIH) last announced its quarterly earnings results on Thursday, April 30th. The financial services provider reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.06. NMI had a net margin of 53.82% and a return on equity of 15.18%. The firm had revenue of $183.48 million for the quarter, compared to the consensus estimate of $153.99 million. During the same period in the prior year, the firm posted $1.28 earnings per share. The company’s revenue for the quarter was up 5.9% on a year-over-year basis. On average, equities analysts expect that NMI Holdings Inc will post 5.15 earnings per share for the current fiscal year.

NMI Company Profile

NMI Holdings, Inc (NASDAQ: NMIH) is a publicly traded mortgage insurance company that provides private mortgage insurance to lenders across the United States and Canada. Through its principal subsidiary, National Mortgage Insurance Corporation, NMI underwrites and issues policies that protect originators and investors against losses arising from borrower default on residential mortgage loans. By mitigating credit risk on higher‐loan‐to‐value mortgages, the company supports homebuyers’ access to financing and contributes to overall market liquidity.

Beyond its core mortgage insurance products, NMI offers credit risk‐sharing and reinsurance solutions designed to help clients optimize capital utilization and manage portfolio exposure.