Norges Bank Takes $13.17 Million Position in NMI Holdings, Inc. (NASDAQ:NMIH)

Norges Bank purchased a new stake in shares of NMI Holdings, Inc. (NASDAQ:NMIH) during the 4th quarter, Holdings Channel reports. The fund purchased 358,382 shares of the financial services provider’s stock, valued at approximately $13,174,000.

Several other hedge funds have also added to or reduced their stakes in NMIH. Principal Securities Inc. raised its holdings in NMI by 66.5% during the 4th quarter. Principal Securities Inc. now owns 716 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 286 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in NMI by 288.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,868 shares of the financial services provider’s stock valued at $69,000 after buying an additional 1,387 shares during the period. KBC Group NV boosted its stake in NMI by 38.3% in the fourth quarter. KBC Group NV now owns 3,221 shares of the financial services provider’s stock valued at $118,000 after acquiring an additional 892 shares during the last quarter. R Squared Ltd acquired a new stake in NMI during the 4th quarter worth $203,000. Finally, AXQ Capital LP bought a new stake in shares of NMI during the 4th quarter valued at $207,000. Institutional investors own 94.12% of the company’s stock.

Insider Activity at NMI

In related news, EVP Norman Peter Fitzgerald sold 20,000 shares of NMI stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $35.88, for a total transaction of $717,600.00. Following the sale, the executive vice president now directly owns 37,470 shares of the company’s stock, valued at approximately $1,344,423.60. The trade was a 34.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Mohammad Nawaz Yousaf sold 1,083 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $35.44, for a total transaction of $38,381.52. Following the completion of the transaction, the executive vice president now directly owns 49,218 shares of the company’s stock, valued at approximately $1,744,285.92. The trade was a 2.15 % decrease in their position. The disclosure for this sale can be found here. 2.70% of the stock is currently owned by insiders.

NMI Stock Down 3.1 %

NASDAQ:NMIH opened at $32.79 on Tuesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.83 and a current ratio of 0.60. NMI Holdings, Inc. has a 52-week low of $29.05 and a 52-week high of $42.49. The stock has a 50-day simple moving average of $36.08 and a 200 day simple moving average of $37.70. The company has a market cap of $2.57 billion, a PE ratio of 7.40, a PEG ratio of 1.41 and a beta of 0.62.

NMI (NASDAQ:NMIH) last released its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $1.07 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.07). NMI had a net margin of 55.32% and a return on equity of 17.33%. On average, sell-side analysts expect that NMI Holdings, Inc. will post 4.62 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. UBS Group decreased their price objective on NMI from $42.00 to $41.00 and set a “neutral” rating for the company in a research note on Wednesday, February 19th. JPMorgan Chase & Co. lowered their price target on NMI from $46.00 to $41.00 and set an “overweight” rating for the company in a research note on Monday, December 9th. Keefe, Bruyette & Woods raised shares of NMI from a “market perform” rating to an “outperform” rating and set a $43.00 price objective on the stock in a research note on Monday, February 24th. Finally, Barclays downgraded shares of NMI from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $48.00 to $41.00 in a research note on Monday, January 6th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, NMI presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.29.

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.