Ellis Investment Partners LLC Reduces Holdings in NMI Holdings, Inc. (NASDAQ:NMIH)

Ellis Investment Partners LLC lowered its position in NMI Holdings, Inc. (NASDAQ:NMIH) by 4.1% during the 1st quarter, HoldingsChannel reports. The fund owned 91,856 shares of the financial services provider’s stock after selling 3,922 shares during the period. Ellis Investment Partners LLC’s holdings in NMI were worth $2,971,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Daiwa Securities Group Inc. purchased a new position in shares of NMI during the fourth quarter valued at approximately $27,000. TFO Wealth Partners LLC grew its position in NMI by 24,500.0% in the 4th quarter. TFO Wealth Partners LLC now owns 1,230 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 1,225 shares during the last quarter. Robeco Institutional Asset Management B.V. purchased a new stake in NMI in the fourth quarter worth $145,000. Quadrant Capital Group LLC lifted its position in shares of NMI by 6.1% during the fourth quarter. Quadrant Capital Group LLC now owns 6,071 shares of the financial services provider’s stock worth $180,000 after purchasing an additional 350 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new stake in shares of NMI during the third quarter valued at $204,000. Institutional investors own 94.12% of the company’s stock.

NMI Stock Up 0.1 %

Shares of NMIH stock opened at $33.09 on Thursday. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.89 and a quick ratio of 0.89. The company has a market cap of $2.66 billion, a price-to-earnings ratio of 8.18, a price-to-earnings-growth ratio of 1.14 and a beta of 1.08. The stock’s fifty day moving average price is $32.56 and its 200 day moving average price is $30.97. NMI Holdings, Inc. has a 1-year low of $24.83 and a 1-year high of $34.33.

NMI (NASDAQ:NMIH) last issued its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.12. NMI had a net margin of 56.26% and a return on equity of 18.09%. The business had revenue of $156.25 million for the quarter, compared to analyst estimates of $133.76 million. During the same quarter in the prior year, the business posted $0.88 EPS. NMI’s revenue for the quarter was up 14.2% compared to the same quarter last year. On average, research analysts expect that NMI Holdings, Inc. will post 4.24 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on NMIH shares. Compass Point lifted their price objective on shares of NMI from $33.00 to $36.00 and gave the company a “buy” rating in a report on Tuesday, May 7th. UBS Group downgraded NMI from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $37.00 to $39.00 in a report on Wednesday, May 22nd. JPMorgan Chase & Co. upped their target price on NMI from $35.00 to $36.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Keefe, Bruyette & Woods raised their price target on NMI from $33.00 to $36.00 and gave the company a “market perform” rating in a research note on Thursday, April 4th. Finally, Truist Financial increased their target price on shares of NMI from $36.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, NMI presently has a consensus rating of “Moderate Buy” and an average price target of $35.56.

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.