KLP Kapitalforvaltning AS Acquires New Holdings in NMI Holdings, Inc. (NASDAQ:NMIH)

KLP Kapitalforvaltning AS acquired a new stake in shares of NMI Holdings, Inc. (NASDAQ:NMIH - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 29,700 shares of the financial services provider's stock, valued at approximately $1,092,000.

Several other large investors have also modified their holdings of the stock. Raymond James Financial Inc. purchased a new position in NMI during the fourth quarter worth approximately $13,136,000. Barclays PLC raised its position in shares of NMI by 264.4% in the 3rd quarter. Barclays PLC now owns 386,999 shares of the financial services provider's stock worth $15,940,000 after buying an additional 280,809 shares during the period. abrdn plc acquired a new position in NMI in the fourth quarter valued at $8,122,000. Denali Advisors LLC increased its stake in NMI by 2,446.6% during the fourth quarter. Denali Advisors LLC now owns 175,718 shares of the financial services provider's stock worth $6,459,000 after acquiring an additional 168,818 shares during the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of NMI by 8.0% in the 4th quarter. American Century Companies Inc. now owns 1,957,179 shares of the financial services provider's stock worth $71,946,000 after purchasing an additional 145,591 shares during the period. 94.12% of the stock is currently owned by hedge funds and other institutional investors.

NMI Stock Down 3.0 %

NASDAQ:NMIH traded down $1.10 on Thursday, reaching $35.88. The stock had a trading volume of 938,416 shares, compared to its average volume of 517,258. The company has a 50-day moving average of $36.29 and a 200 day moving average of $37.87. The company has a current ratio of 0.60, a quick ratio of 0.83 and a debt-to-equity ratio of 0.19. The stock has a market cap of $2.81 billion, a P/E ratio of 8.10, a price-to-earnings-growth ratio of 1.41 and a beta of 0.62. NMI Holdings, Inc. has a 12-month low of $29.05 and a 12-month high of $42.49.

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NMI (NASDAQ:NMIH - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $1.07 EPS for the quarter, missing analysts' consensus estimates of $1.14 by ($0.07). NMI had a net margin of 55.32% and a return on equity of 17.33%. On average, research analysts predict that NMI Holdings, Inc. will post 4.62 earnings per share for the current year.

Analysts Set New Price Targets

NMIH has been the subject of a number of research reports. Barclays cut NMI from an "overweight" rating to an "equal weight" rating and decreased their target price for the stock from $48.00 to $41.00 in a report on Monday, January 6th. UBS Group dropped their price objective on shares of 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 raised shares of NMI from a "market perform" rating to an "outperform" rating and set a $43.00 target price on the stock in a research note on Monday, February 24th. Finally, JPMorgan Chase & Co. lowered their price target on NMI from $46.00 to $41.00 and set an "overweight" rating for the company in a report on Monday, December 9th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, NMI currently has an average rating of "Moderate Buy" and a consensus price target of $42.29.

Insider Buying and Selling

In other news, EVP Norman Peter Fitzgerald sold 20,000 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $35.88, for a total transaction of $717,600.00. Following the sale, the executive vice president now directly owns 37,470 shares in the company, valued at approximately $1,344,423.60. This represents a 34.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mohammad Nawaz Yousaf sold 1,083 shares of the business'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 transaction, the executive vice president now owns 49,218 shares of the company's stock, valued at $1,744,285.92. This represents a 2.15 % decrease in their position. The disclosure for this sale can be found here. 2.70% of the stock is currently owned by company insiders.

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.