Municipal Employees Retirement System of Michigan Decreases Holdings in NMI Holdings Inc (NASDAQ:NMIH) – Mayfield Recorder

Municipal Employees Retirement System of Michigan cut its stake in shares of NMI Holdings Inc (NASDAQ:NMIH) by 72.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 19,870 shares of the financial services provider’s stock after selling 52,850 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in NMI were worth $564,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. FMR LLC increased its stake in shares of NMI by 44.8% in the 1st quarter. FMR LLC now owns 2,501,047 shares of the financial services provider’s stock worth $64,702,000 after purchasing an additional 773,781 shares in the last quarter. Ellis Investment Partners LLC boosted its holdings in NMI by 2,203.8% in the 1st quarter. Ellis Investment Partners LLC now owns 1,384,458 shares of the financial services provider’s stock worth $1,384,000 after buying an additional 1,324,364 shares during the period. Boston Partners boosted its holdings in NMI by 3.0% in the 1st quarter. Boston Partners now owns 813,142 shares of the financial services provider’s stock worth $21,036,000 after buying an additional 23,808 shares during the period. Norges Bank bought a new position in NMI in the 4th quarter worth $13,216,000. Finally, Victory Capital Management Inc. bought a new position in NMI in the 1st quarter worth $5,914,000. Institutional investors and hedge funds own 91.82% of the company’s stock.

Shares of NASDAQ:NMIH opened at $27.91 on Tuesday. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.18. NMI Holdings Inc has a 12 month low of $15.62 and a 12 month high of $31.34. The company has a 50-day moving average price of $27.15 and a 200 day moving average price of $26.61. The company has a market cap of $1.88 billion, a price-to-earnings ratio of 16.81 and a beta of 1.29.

NMI (NASDAQ:NMIH) last announced its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $0.59 EPS for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.04. NMI had a net margin of 41.31% and a return on equity of 19.65%. The firm had revenue of $91.18 million during the quarter, compared to the consensus estimate of $85.11 million. As a group, equities analysts forecast that NMI Holdings Inc will post 2.4 EPS for the current year.

In related news, CFO Adam Pollitzer sold 4,092 shares of the stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $28.05, for a total value of $114,780.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.20% of the stock is currently owned by company insiders.

Several brokerages recently weighed in on NMIH. Zacks Investment Research raised shares of NMI from a “hold” rating to a “buy” rating and set a $31.00 target price for the company in a report on Friday, July 26th. BTIG Research set a $36.00 target price on shares of NMI and gave the stock a “buy” rating in a report on Wednesday, July 31st. Zelman & Associates raised shares of NMI from a “hold” rating to a “buy” rating in a report on Friday, August 2nd. BidaskClub raised shares of NMI from a “hold” rating to a “buy” rating in a report on Tuesday, August 6th. Finally, B. Riley set a $30.00 target price on shares of NMI and gave the stock a “hold” rating in a report on Friday, August 2nd. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $30.63.

NMI Company Profile

NMI Holdings, Inc, through its subsidiaries, provides private mortgage guaranty insurance services in the United States. The company offers mortgage insurance; reinsurance on loans; 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.

Institutional Ownership by Quarter for NMI (NASDAQ:NMIH)

Source: Municipal Employees Retirement System of Michigan Decreases Holdings in NMI Holdings Inc (NASDAQ:NMIH) – Mayfield Recorder