Chase Investment Counsel Corp Sells 62,351 Shares of NMI Holdings, Inc. (NASDAQ:NMIH)

Chase Investment Counsel Corp decreased its stake in NMI Holdings, Inc. (NASDAQ:NMIH - Free Report) by 68.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,012 shares of the financial services provider's stock after selling 62,351 shares during the period. Chase Investment Counsel Corp's holdings in NMI were worth $1,066,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in NMIH. Principal Securities Inc. lifted its stake in shares of NMI by 66.5% during the fourth quarter. Principal Securities Inc. now owns 716 shares of the financial services provider's stock valued at $26,000 after buying an additional 286 shares during the period. KBC Group NV boosted its stake in NMI by 38.3% in the 4th quarter. KBC Group NV now owns 3,221 shares of the financial services provider's stock worth $118,000 after buying an additional 892 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in NMI by 989.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,248 shares of the financial services provider's stock valued at $134,000 after buying an additional 2,950 shares during the period. Point72 Asia Singapore Pte. Ltd. increased its stake in shares of NMI by 21.3% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,810 shares of the financial services provider's stock valued at $198,000 after acquiring an additional 846 shares during the last quarter. Finally, R Squared Ltd purchased a new stake in NMI in the fourth quarter valued at approximately $203,000. Institutional investors and hedge funds own 94.12% of the company's stock.

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NMI Price Performance

Shares of NMI stock traded up $0.13 during trading on Wednesday, hitting $35.81. The stock had a trading volume of 364,137 shares, compared to its average volume of 512,945. The business has a fifty day moving average of $36.75 and a two-hundred day moving average of $38.52. NMI Holdings, Inc. has a fifty-two week low of $29.05 and a fifty-two week high of $42.49. The firm has a market cap of $2.81 billion, a P/E ratio of 8.08, a PEG ratio of 1.41 and a beta of 1.02. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.60 and a quick ratio of 0.83.

NMI (NASDAQ:NMIH - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $1.07 earnings per share 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 17.33%. On average, sell-side analysts expect that NMI Holdings, Inc. will post 4.62 earnings per share for the current fiscal year.

Insider Activity

In other NMI news, EVP Mohammad Nawaz Yousaf sold 1,083 shares of NMI stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $35.44, for a total transaction of $38,381.52. Following the transaction, the executive vice president now owns 49,218 shares of the company's stock, valued at $1,744,285.92. The trade was a 2.15 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Norman Peter Fitzgerald sold 20,000 shares of the business's 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 transaction, the executive vice president now directly owns 37,470 shares in the company, valued at $1,344,423.60. The trade was a 34.80 % 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.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NMIH. JPMorgan Chase & Co. reduced their price objective on NMI from $46.00 to $41.00 and set an "overweight" rating on the stock in a research note on Monday, December 9th. UBS Group decreased their target price on NMI from $42.00 to $41.00 and set a "neutral" rating for the company in a research report on Wednesday, February 19th. Keefe, Bruyette & Woods upgraded NMI from a "market perform" rating to an "outperform" rating and set a $43.00 target price on the stock in a report on Monday, February 24th. Barclays cut NMI from an "overweight" rating to an "equal weight" rating and decreased their price target for the stock from $48.00 to $41.00 in a report on Monday, January 6th. Finally, Royal Bank of Canada lowered their price target on shares of NMI from $48.00 to $47.00 and set an "outperform" rating for the company in a report on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target 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.