Principal Financial Group Inc. Acquires 15,868 Shares of NMI Holdings, Inc. (NASDAQ:NMIH)

Principal Financial Group Inc. increased its position in shares of NMI Holdings, Inc. (NASDAQ:NMIH - Free Report) by 3.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 452,264 shares of the financial services provider's stock after buying an additional 15,868 shares during the quarter. Principal Financial Group Inc. owned 0.57% of NMI worth $16,625,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in NMIH. Barclays PLC boosted its holdings in NMI by 264.4% during the third quarter. Barclays PLC now owns 386,999 shares of the financial services provider's stock valued at $15,940,000 after purchasing an additional 280,809 shares in the last quarter. abrdn plc acquired a new stake in NMI during the fourth quarter valued at approximately $8,122,000. FMR LLC boosted its holdings in NMI by 7.6% during the third quarter. FMR LLC now owns 1,517,092 shares of the financial services provider's stock valued at $62,489,000 after purchasing an additional 107,771 shares in the last quarter. Taika Capital LP acquired a new stake in NMI during the third quarter valued at approximately $4,071,000. Finally, Donald Smith & CO. Inc. boosted its holdings in NMI by 11.1% during the third quarter. Donald Smith & CO. Inc. now owns 969,872 shares of the financial services provider's stock valued at $39,949,000 after purchasing an additional 97,125 shares in the last quarter. 94.12% of the stock is owned by institutional investors and hedge funds.

NMI Trading Up 1.8 %

Shares of NMIH traded up $0.64 during trading hours on Friday, reaching $36.44. The stock had a trading volume of 609,345 shares, compared to its average volume of 498,242. The company has a quick ratio of 0.83, a current ratio of 0.60 and a debt-to-equity ratio of 0.19. NMI Holdings, Inc. has a 52 week low of $29.05 and a 52 week high of $42.49. The firm has a 50-day moving average of $36.78 and a 200 day moving average of $38.54. The company has a market cap of $2.86 billion, a P/E ratio of 8.23, a P/E/G ratio of 1.41 and a beta of 1.12.

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NMI (NASDAQ:NMIH - Get Free Report) last released its earnings results on Wednesday, February 12th. The financial services provider reported $1.07 earnings per share (EPS) 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 expect that NMI Holdings, Inc. will post 4.62 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on NMIH shares. Royal Bank of Canada reduced their target price on NMI from $48.00 to $47.00 and set an "outperform" rating on the stock in a report on Thursday, November 7th. Keefe, Bruyette & Woods raised 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. JPMorgan Chase & Co. reduced their target price on NMI from $46.00 to $41.00 and set an "overweight" rating on the stock in a report on Monday, December 9th. UBS Group reduced their target price on NMI from $42.00 to $41.00 and set a "neutral" rating on the stock in a report on Wednesday, February 19th. Finally, Barclays downgraded NMI from an "overweight" rating to an "equal weight" rating and reduced their target price for the stock from $48.00 to $41.00 in a report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $42.29.

Insider Transactions at NMI

In other news, EVP Mohammad Nawaz Yousaf sold 1,083 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $35.44, for a total transaction of $38,381.52. Following the completion of the transaction, the executive vice president now directly owns 49,218 shares in the company, valued at $1,744,285.92. This represents a 2.15 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Norman Peter Fitzgerald sold 20,000 shares of the firm's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $35.88, for a total transaction of $717,600.00. Following the completion of the sale, the executive vice president now owns 37,470 shares of the company's stock, valued at $1,344,423.60. This trade represents a 34.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.70% of the company's stock.

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.