Legend Financial Advisors Inc. Decreases Stake in NMI Holdings, Inc. (NASDAQ:NMIH)

Legend Financial Advisors Inc. reduced its holdings in shares of NMI Holdings, Inc. (NASDAQ:NMIH) by 18.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,576 shares of the financial services provider’s stock after selling 4,011 shares during the quarter. NMI comprises 0.5% of Legend Financial Advisors Inc.’s investment portfolio, making the stock its 25th biggest position. Legend Financial Advisors Inc.’s holdings in NMI were worth $724,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. increased its position in shares of NMI by 3.4% during the fourth quarter. Vanguard Group Inc. now owns 6,809,208 shares of the financial services provider’s stock valued at $202,097,000 after buying an additional 225,364 shares during the period. Diversified Trust Co raised its holdings in shares of NMI by 6.1% during the 1st quarter. Diversified Trust Co now owns 26,029 shares of the financial services provider’s stock valued at $842,000 after buying an additional 1,499 shares in the last quarter. AlphaMark Advisors LLC lifted its holdings in shares of NMI by 15.7% in the 1st quarter. AlphaMark Advisors LLC now owns 10,259 shares of the financial services provider’s stock worth $332,000 after acquiring an additional 1,391 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in NMI by 9.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 7,888 shares of the financial services provider’s stock worth $255,000 after purchasing an additional 666 shares during the last quarter. Finally, Financial Strategies Group Inc. purchased a new stake in NMI during the first quarter valued at about $201,000. 94.12% of the stock is currently owned by hedge funds and other institutional investors.

NMI Stock Down 2.6 %

Shares of NASDAQ NMIH opened at $40.42 on Friday. The firm has a fifty day simple moving average of $40.33 and a two-hundred day simple moving average of $35.97. NMI Holdings, Inc. has a 12 month low of $26.41 and a 12 month high of $42.49. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $3.24 billion, a PE ratio of 10.00, a price-to-earnings-growth ratio of 0.93 and a beta of 1.12.

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

Insider Activity

In related news, insider William J. Leatherberry sold 3,000 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $40.07, for a total value of $120,210.00. Following the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other NMI news, insider William J. Leatherberry sold 3,000 shares of the company’s 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 sale, the insider now owns 153,689 shares in the company, valued at approximately $6,158,318.23. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael J. Embler sold 26,008 shares of NMI stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $39.35, for a total transaction of $1,023,414.80. Following the transaction, the director now owns 61,607 shares of the company’s stock, valued at $2,424,235.45. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently commented on NMIH shares. StockNews.com downgraded NMI from a “buy” rating to a “hold” rating in a report on Wednesday, August 21st. Barclays boosted their price objective on NMI from $43.00 to $48.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Royal Bank of Canada upgraded shares of NMI from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $40.00 to $48.00 in a report on Wednesday, September 18th. Keefe, Bruyette & Woods upped their price target on shares of NMI from $37.00 to $40.00 and gave the company a “market perform” rating in a report on Thursday, August 1st. Finally, JPMorgan Chase & Co. raised their price target on shares of NMI from $42.00 to $46.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, NMI presently has a consensus rating of “Moderate Buy” and an average target price of $43.43.

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.