Raymond James Financial Inc. Takes $13.14 Million Position in NMI Holdings, Inc. (NASDAQ:NMIH)

Raymond James Financial Inc. purchased a new stake in shares of NMI Holdings, Inc. (NASDAQ:NMIH - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 357,343 shares of the financial services provider's stock, valued at approximately $13,136,000. Raymond James Financial Inc. owned approximately 0.45% of NMI at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Jane Street Group LLC grew its position in shares of NMI by 64.2% during the third quarter. Jane Street Group LLC now owns 139,173 shares of the financial services provider's stock worth $5,733,000 after purchasing an additional 54,391 shares in the last quarter. Algert Global LLC lifted its stake in shares of NMI by 88.9% during the 3rd quarter. Algert Global LLC now owns 142,141 shares of the financial services provider's stock worth $5,855,000 after acquiring an additional 66,880 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in NMI by 3.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 775,804 shares of the financial services provider's stock worth $31,955,000 after purchasing an additional 24,838 shares during the period. Citigroup Inc. increased its holdings in NMI by 95.4% during the 3rd quarter. Citigroup Inc. now owns 129,180 shares of the financial services provider's stock worth $5,321,000 after purchasing an additional 63,058 shares during the period. Finally, BNP Paribas Financial Markets increased its holdings in shares of NMI by 53.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 112,224 shares of the financial services provider's stock valued at $4,623,000 after acquiring an additional 39,012 shares during the period. 94.12% of the stock is owned by institutional investors.

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NMI Price Performance

NASDAQ:NMIH traded down $0.17 during trading hours on Friday, hitting $35.29. The company's stock had a trading volume of 1,738,337 shares, compared to its average volume of 476,816. The business's 50-day moving average is $36.45 and its two-hundred day moving average is $38.11. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.83 and a current ratio of 0.60. The company has a market capitalization of $2.77 billion, a PE ratio of 7.97, a PEG ratio of 1.41 and a beta of 1.02. NMI Holdings, Inc. has a 52-week low of $29.05 and a 52-week high of $42.49.

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 the consensus estimate of $1.14 by ($0.07). NMI had a return on equity of 17.33% and a net margin of 55.32%. As a group, research analysts anticipate that NMI Holdings, Inc. will post 4.62 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. JPMorgan Chase & Co. cut their price target 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 lowered their price objective 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 raised NMI from a "market perform" rating to an "outperform" rating and set a $43.00 price target for the company in a research report on Monday, February 24th. Finally, Barclays cut NMI from an "overweight" rating to an "equal weight" rating and decreased their price objective for the company 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 issued a buy rating to the company's stock. According to data from MarketBeat, NMI currently has an average rating of "Moderate Buy" and an average price target of $42.29.

Insider Buying and Selling

In related news, EVP Mohammad Nawaz Yousaf sold 1,083 shares of the company's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $35.44, for a total value of $38,381.52. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Norman Peter Fitzgerald sold 20,000 shares of the business's stock in a transaction dated Monday, February 24th. The stock was 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 in the company, valued at approximately $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. Insiders own 2.40% of the company's stock.

NMI Company 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.