Prudential Financial Inc. Raises Holdings in NMI Holdings, Inc. (NASDAQ:NMIH)

Prudential Financial Inc. boosted its stake in shares of NMI Holdings, Inc. (NASDAQ:NMIH) by 17.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 104,882 shares of the financial services provider’s stock after acquiring an additional 15,685 shares during the quarter. Prudential Financial Inc.’s holdings in NMI were worth $3,855,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Congress Wealth Management LLC DE purchased a new position in shares of NMI during the 4th quarter valued at approximately $226,000. Vanguard Group Inc. grew its position in NMI by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 7,158,877 shares of the financial services provider’s stock valued at $263,160,000 after buying an additional 39,503 shares during the period. LPL Financial LLC increased its holdings in NMI by 197.6% in the fourth quarter. LPL Financial LLC now owns 49,962 shares of the financial services provider’s stock valued at $1,837,000 after buying an additional 33,174 shares in the last quarter. Fox Run Management L.L.C. raised its position in shares of NMI by 27.4% in the fourth quarter. Fox Run Management L.L.C. now owns 30,702 shares of the financial services provider’s stock worth $1,129,000 after acquiring an additional 6,605 shares during the period. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of NMI during the 4th quarter worth about $1,092,000. 94.12% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mohammad Nawaz Yousaf sold 1,083 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $35.44, for a total value of $38,381.52. Following the completion of the transaction, the executive vice president now owns 49,218 shares in the company, valued at $1,744,285.92. This represents a 2.15 % 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.

NMI Stock Performance

NASDAQ:NMIH opened at $36.59 on Wednesday. The company has a market cap of $2.87 billion, a P/E ratio of 8.26, a P/E/G ratio of 1.41 and a beta of 1.02. NMI Holdings, Inc. has a twelve month low of $29.05 and a twelve month high of $42.49. The company’s 50-day moving average price is $36.35 and its 200-day moving average price is $37.89. The company has a current ratio of 0.60, a quick ratio of 0.83 and a debt-to-equity ratio of 0.19.

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

Analyst Ratings Changes

Several equities analysts recently weighed in on NMIH shares. Barclays lowered NMI from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $48.00 to $41.00 in a research note on Monday, January 6th. UBS Group reduced their target price 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. decreased their target price on NMI from $46.00 to $41.00 and set an “overweight” rating on the stock in a research report on Monday, December 9th. Finally, Keefe, Bruyette & Woods raised shares of NMI from a “market perform” rating to an “outperform” rating and set a $43.00 price target for the company in a report on Monday, February 24th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, NMI presently has an average rating of “Moderate Buy” and a consensus target price 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.