NewEdge Wealth LLC Purchases 14,708 Shares of NMI Holdings Inc $NMIH

NewEdge Wealth LLC grew its position in NMI Holdings Inc (NASDAQ:NMIH) by 55.3% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 41,324 shares of the financial services provider’s stock after buying an additional 14,708 shares during the period. NewEdge Wealth LLC’s holdings in NMI were worth $1,550,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bessemer Group Inc. grew its holdings in shares of NMI by 34.0% during the first quarter. Bessemer Group Inc. now owns 1,071 shares of the financial services provider’s stock valued at $40,000 after buying an additional 272 shares during the last quarter. Rockefeller Capital Management L.P. raised its holdings in NMI by 35.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,160 shares of the financial services provider’s stock worth $47,000 after acquiring an additional 301 shares during the last quarter. Evolve Private Wealth LLC lifted its position in NMI by 1.6% in the 1st quarter. Evolve Private Wealth LLC now owns 19,525 shares of the financial services provider’s stock valued at $732,000 after acquiring an additional 302 shares in the last quarter. California State Teachers Retirement System lifted its position in NMI by 0.5% in the 2nd quarter. California State Teachers Retirement System now owns 70,112 shares of the financial services provider’s stock valued at $2,958,000 after acquiring an additional 328 shares in the last quarter. Finally, Royal Bank of Canada lifted its position in NMI by 0.3% in the 4th quarter. Royal Bank of Canada now owns 111,334 shares of the financial services provider’s stock valued at $4,541,000 after acquiring an additional 348 shares in the last quarter. Institutional investors own 94.12% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on NMIH. JPMorgan Chase & Co. lifted their target price on NMI from $43.00 to $48.00 and gave the stock an “overweight” rating in a report on Monday, July 13th. Keefe, Bruyette & Woods upped their price target on NMI from $46.00 to $47.00 and gave the company an “outperform” rating in a report on Thursday, June 25th. UBS Group set a $46.00 price objective on NMI in a research report on Friday, May 22nd. Weiss Ratings upgraded NMI from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, June 12th. Finally, Royal Bank Of Canada initiated coverage on NMI in a research report on Friday, May 22nd. They issued an “outperform” rating and a $46.00 target price for the company. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $46.00.

NMI Stock Performance

Shares of NMIH stock opened at $42.75 on Monday. NMI Holdings Inc has a 12-month low of $34.84 and a 12-month high of $43.35. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.16. The firm’s 50 day moving average is $39.03 and its 200 day moving average is $38.85. The stock has a market capitalization of $3.25 billion, a P/E ratio of 8.71, a P/E/G ratio of 1.48 and a beta of 0.54.

NMI (NASDAQ:NMIH) last posted its earnings results on Thursday, April 30th. The financial services provider reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.06. The business had revenue of $183.47 million during the quarter, compared to the consensus estimate of $153.99 million. NMI had a net margin of 53.82% and a return on equity of 15.18%. The firm’s revenue was up 5.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.28 EPS. Research analysts expect that NMI Holdings Inc will post 5.11 earnings per share for the current year.

Insider Activity

In other news, Director Michael Curry Montgomery sold 1,554 shares of the firm’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $37.90, for a total value of $58,896.60. Following the transaction, the director directly owned 69,026 shares in the company, valued at $2,616,085.40. This trade represents a 2.20% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 2.44% of the stock is currently owned by company insiders.

NMI Company Profile

NMI Holdings, Inc (NASDAQ: NMIH) is a publicly traded mortgage insurance company that provides private mortgage insurance to lenders across the United States and Canada. Through its principal subsidiary, National Mortgage Insurance Corporation, NMI underwrites and issues policies that protect originators and investors against losses arising from borrower default on residential mortgage loans. By mitigating credit risk on higher?loan?to?value mortgages, the company supports homebuyers’ access to financing and contributes to overall market liquidity.

Beyond its core mortgage insurance products, NMI offers credit risk?sharing and reinsurance solutions designed to help clients optimize capital utilization and manage portfolio exposure.