Donald Smith & CO. Inc. Increases Stock Position in NMI Holdings, Inc. (NASDAQ:NMIH)

Donald Smith & CO. Inc. boosted its holdings in NMI Holdings, Inc. (NASDAQ:NMIH) by 11.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 969,872 shares of the financial services provider’s stock after buying an additional 97,125 shares during the period. Donald Smith & CO. Inc.’s holdings in NMI were worth $39,949,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Assenagon Asset Management S.A. grew its stake in NMI by 38.0% during the third quarter. Assenagon Asset Management S.A. now owns 1,942,428 shares of the financial services provider’s stock valued at $80,009,000 after acquiring an additional 534,818 shares in the last quarter. Creative Planning grew its position in shares of NMI by 13.4% during the 3rd quarter. Creative Planning now owns 20,006 shares of the financial services provider’s stock valued at $824,000 after purchasing an additional 2,357 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt increased its holdings in shares of NMI by 24.2% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 46,700 shares of the financial services provider’s stock worth $1,924,000 after purchasing an additional 9,100 shares during the period. USA Financial Formulas purchased a new stake in shares of NMI in the third quarter worth $57,000. Finally, CWM LLC boosted its stake in NMI by 32.3% during the third quarter. CWM LLC now owns 3,936 shares of the financial services provider’s stock valued at $162,000 after buying an additional 962 shares during the period. Institutional investors own 94.12% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on NMIH. JPMorgan Chase & Co. upped their target price on NMI from $42.00 to $46.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Keefe, Bruyette & Woods raised their price objective on shares of NMI from $37.00 to $40.00 and gave the company a “market perform” rating in a research report on Thursday, August 1st. StockNews.com lowered NMI from a “buy” rating to a “hold” rating in a research report on Wednesday, August 21st. Barclays upped their target price on NMI from $43.00 to $48.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Finally, Truist Financial boosted their price objective on shares of NMI from $37.00 to $47.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, NMI has a consensus rating of “Moderate Buy” and a consensus target price of $43.43.

NMI Trading Up 1.7 %

Shares of NASDAQ:NMIH traded up $0.67 during midday trading on Wednesday, hitting $39.54. 27,626 shares of the stock traded hands, compared to its average volume of 528,079. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.20. The business’s 50 day moving average is $40.51 and its two-hundred day moving average is $36.45. The stock has a market capitalization of $3.15 billion, a PE ratio of 9.21, a P/E/G ratio of 0.88 and a beta of 1.12. NMI Holdings, Inc. has a one year low of $26.91 and a one year high of $42.49.

NMI (NASDAQ:NMIH) last released its quarterly earnings results on Tuesday, July 30th. The financial services provider reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.15. NMI had a return on equity of 18.29% and a net margin of 56.40%. The business had revenue of $162.12 million during the quarter, compared to analyst estimates of $138.49 million. During the same quarter in the prior year, the company posted $0.95 EPS. NMI’s quarterly revenue was up 13.6% compared to the same quarter last year. As a group, research analysts forecast that NMI Holdings, Inc. will post 4.5 earnings per share for the current year.

Insider Buying and Selling

In related news, insider William J. Leatherberry sold 3,000 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $40.07, for a total value of $120,210.00. Following the completion of the transaction, the insider now directly owns 153,689 shares of the company’s stock, valued at $6,158,318.23. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.40% of the stock is currently owned by insiders.

NMI Profile

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.