Summit Global Investments Has $1.57 Million Position in NMI Holdings, Inc. (NASDAQ:NMIH)

Summit Global Investments lowered its stake in shares of NMI Holdings, Inc. (NASDAQ:NMIH) by 16.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,187 shares of the financial services provider’s stock after selling 7,395 shares during the quarter. Summit Global Investments’ holdings in NMI were worth $1,573,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in NMIH. Farther Finance Advisors LLC lifted its stake in NMI by 989.9% during the third quarter. Farther Finance Advisors LLC now owns 3,248 shares of the financial services provider’s stock worth $134,000 after purchasing an additional 2,950 shares during the last quarter. Donald Smith & CO. Inc. lifted its stake in NMI by 11.1% during the third quarter. Donald Smith & CO. Inc. now owns 969,872 shares of the financial services provider’s stock worth $39,949,000 after purchasing an additional 97,125 shares during the last quarter. Assenagon Asset Management S.A. lifted 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 worth $80,009,000 after purchasing an additional 534,818 shares during the last quarter. Creative Planning lifted its stake in NMI by 13.4% during the third quarter. Creative Planning now owns 20,006 shares of the financial services provider’s stock worth $824,000 after purchasing an additional 2,357 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its stake in NMI by 24.2% during 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 last quarter. Institutional investors and hedge funds own 94.12% of the company’s stock.

NMI Stock Down 0.4 %

Shares of NASDAQ:NMIH opened at $37.10 on Friday. The firm has a market cap of $2.96 billion, a P/E ratio of 8.49, a P/E/G ratio of 0.89 and a beta of 1.13. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.20. NMI Holdings, Inc. has a 12-month low of $27.00 and a 12-month high of $42.49. The business has a fifty day simple moving average of $40.20 and a 200 day simple moving average of $36.80.

NMI (NASDAQ:NMIH) last announced its earnings results on Wednesday, November 6th. The financial services provider reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.05. The business had revenue of $166.09 million during the quarter, compared to analyst estimates of $164.59 million. NMI had a return on equity of 18.30% and a net margin of 56.20%. Analysts predict that NMI Holdings, Inc. will post 4.5 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on NMIH shares. Royal Bank of Canada cut their target price on NMI from $48.00 to $47.00 and set an “outperform” rating for the company in a research note on Thursday. Truist Financial increased their price target on NMI from $37.00 to $47.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. StockNews.com cut NMI from a “buy” rating to a “hold” rating in a research note on Wednesday, August 21st. Keefe, Bruyette & Woods increased their price target on NMI from $37.00 to $40.00 and gave the company a “market perform” rating in a research note on Thursday, August 1st. Finally, JPMorgan Chase & Co. increased their price target on NMI from $42.00 to $46.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, NMI currently has an average rating of “Moderate Buy” and a consensus price target of $43.29.

Insiders Place Their Bets

In other NMI news, insider William J. Leatherberry sold 3,000 shares of the stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $40.07, for a total transaction of $120,210.00. Following the completion of the sale, the insider now directly owns 153,689 shares in the company, valued at approximately $6,158,318.23. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 2.70% of the company’s stock.

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.