Edgestream Partners L.P. Purchases 98,722 Shares of NMI Holdings, Inc. (NASDAQ:NMIH)

Edgestream Partners L.P. raised its stake in NMI Holdings, Inc. (NASDAQ:NMIH) by 132.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 173,178 shares of the financial services provider’s stock after purchasing an additional 98,722 shares during the quarter. Edgestream Partners L.P. owned 0.22% of NMI worth $6,366,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NMIH. Raymond James Financial Inc. bought a new stake in NMI in the fourth quarter valued at approximately $13,136,000. Barclays PLC increased its stake in shares of NMI by 264.4% during the third quarter. Barclays PLC now owns 386,999 shares of the financial services provider’s stock valued at $15,940,000 after buying an additional 280,809 shares during the period. abrdn plc purchased a new position in shares of NMI during the fourth quarter valued at approximately $8,122,000. Denali Advisors LLC increased its stake in shares of NMI by 2,446.6% during the fourth quarter. Denali Advisors LLC now owns 175,718 shares of the financial services provider’s stock valued at $6,459,000 after buying an additional 168,818 shares during the period. Finally, FMR LLC increased its stake in shares of NMI by 7.6% during the third quarter. FMR LLC now owns 1,517,092 shares of the financial services provider’s stock valued at $62,489,000 after buying an additional 107,771 shares during the period. Institutional investors own 94.12% of the company’s stock.

NMI Trading Down 0.9 %

Shares of NASDAQ:NMIH opened at $35.47 on Friday. The company has a market cap of $2.78 billion, a P/E ratio of 8.01, a PEG ratio of 1.41 and a beta of 1.02. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.60 and a quick ratio of 0.83. NMI Holdings, Inc. has a 1 year low of $29.05 and a 1 year high of $42.49. The stock’s fifty day moving average price is $36.69 and its 200-day moving average price is $38.48.

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

Analyst Upgrades and Downgrades

NMIH has been the topic of several recent research reports. Keefe, Bruyette & Woods raised NMI from a “market perform” rating to an “outperform” rating and set a $43.00 price target on the stock in a research note on Monday, February 24th. Royal Bank of Canada reduced their price target on NMI from $48.00 to $47.00 and set an “outperform” rating on the stock in a research note on Thursday, November 7th. Barclays cut NMI from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $48.00 to $41.00 in a research note on Monday, January 6th. JPMorgan Chase & Co. reduced their price target on NMI from $46.00 to $41.00 and set an “overweight” rating on the stock in a research note on Monday, December 9th. Finally, UBS Group dropped their target price on NMI from $42.00 to $41.00 and set a “neutral” rating on the stock in a report on Wednesday, February 19th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $42.29.

Insider Activity

In other NMI news, EVP Norman Peter Fitzgerald sold 20,000 shares of the company’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $35.88, for a total value of $717,600.00. Following the completion of the sale, the executive vice president now owns 37,470 shares in the company, valued at $1,344,423.60. This represents a 34.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Mohammad Nawaz Yousaf sold 1,083 shares of the company’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $35.44, for a total value of $38,381.52. Following the completion of the sale, the executive vice president now 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. Corporate insiders own 2.70% of the company’s stock.

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.