abrdn plc Invests $8.12 Million in NMI Holdings, Inc. (NASDAQ:NMIH)

abrdn plc acquired a new position in NMI Holdings, Inc. (NASDAQ:NMIH - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 220,958 shares of the financial services provider's stock, valued at approximately $8,122,000. abrdn plc owned 0.28% of NMI as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in NMIH. GAMMA Investing LLC increased its stake in shares of NMI by 57.2% in the third quarter. GAMMA Investing LLC now owns 728 shares of the financial services provider's stock worth $30,000 after purchasing an additional 265 shares in the last quarter. KBC Group NV increased its stake in shares of NMI by 38.3% in the fourth quarter. KBC Group NV now owns 3,221 shares of the financial services provider's stock worth $118,000 after purchasing an additional 892 shares in the last quarter. Farther Finance Advisors LLC increased its stake in shares of NMI by 989.9% in 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 in the last quarter. CWM LLC increased its stake in shares of NMI by 32.3% in the third quarter. CWM LLC now owns 3,936 shares of the financial services provider's stock worth $162,000 after purchasing an additional 962 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. increased its stake in shares of NMI by 21.3% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,810 shares of the financial services provider's stock worth $198,000 after purchasing an additional 846 shares in the last quarter. Institutional investors own 94.12% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on NMIH shares. Royal Bank of Canada reduced their target price on shares of NMI from $48.00 to $47.00 and set an "outperform" rating for the company in a research note on Thursday, November 7th. JPMorgan Chase & Co. reduced their target price on shares of NMI from $46.00 to $41.00 and set an "overweight" rating for the company in a research note on Monday, December 9th. Barclays cut shares of NMI from an "overweight" rating to an "equal weight" rating and reduced their price objective for the company from $48.00 to $41.00 in a research note on Monday, January 6th. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of NMI from $44.00 to $43.00 and set a "market perform" rating for the company in a research note on Wednesday, January 8th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, NMI presently has an average rating of "Moderate Buy" and an average price target of $42.00.

NMI Price Performance

NMI stock traded down $0.99 during mid-day trading on Wednesday, hitting $35.16. 905,666 shares of the company traded hands, compared to its average volume of 473,049. NMI Holdings, Inc. has a one year low of $28.73 and a one year high of $42.49. The stock has a market cap of $2.78 billion, a price-to-earnings ratio of 7.94, a price-to-earnings-growth ratio of 0.92 and a beta of 1.12. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.83 and a current ratio of 0.83. The stock has a fifty day moving average price of $37.41 and a 200-day moving average price of $38.75.

NMI (NASDAQ:NMIH - Get Free Report) last announced its earnings results on Wednesday, February 12th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.14 by ($0.07). NMI had a net margin of 55.32% and a return on equity of 17.64%. On average, equities analysts predict that NMI Holdings, Inc. will post 4.68 earnings per share for the current fiscal year.

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.