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

Ellis Investment Partners LLC raised its position in NMI Holdings, Inc. (NASDAQ:NMIH) by 0.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 92,727 shares of the financial services provider’s stock after acquiring an additional 871 shares during the quarter. Ellis Investment Partners LLC owned approximately 0.12% of NMI worth $3,156,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC acquired a new stake in shares of NMI during the 2nd quarter worth about $29,000. Fidelis Capital Partners LLC purchased a new position in NMI in the first quarter valued at approximately $31,000. TFO Wealth Partners LLC raised its holdings in NMI by 24,500.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,230 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 1,225 shares in the last quarter. Picton Mahoney Asset Management purchased a new stake in shares of NMI during the 2nd quarter worth approximately $63,000. Finally, CWM LLC boosted its holdings in shares of NMI by 92.7% in the 2nd quarter. CWM LLC now owns 2,974 shares of the financial services provider’s stock valued at $101,000 after buying an additional 1,431 shares in the last quarter. Institutional investors and hedge funds own 94.12% of the company’s stock.

Insider Activity at NMI

In other NMI news, insider William J. Leatherberry sold 3,000 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $40.07, for a total transaction of $120,210.00. Following the sale, the insider now directly owns 153,689 shares in the company, valued at approximately $6,158,318.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other NMI news, Director Michael J. Embler sold 26,008 shares of the business’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $39.35, for a total transaction of $1,023,414.80. Following the sale, the director now directly owns 61,607 shares in the company, valued at $2,424,235.45. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider William J. Leatherberry sold 3,000 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $40.07, for a total transaction of $120,210.00. Following the completion of the sale, the insider now directly owns 153,689 shares in the company, valued at $6,158,318.23. The disclosure for this sale can be found here. Company insiders own 2.70% of the company’s stock.

NMI Price Performance

NMI stock opened at $40.57 on Friday. The business has a 50 day simple moving average of $37.80 and a 200-day simple moving average of $33.74. NMI Holdings, Inc. has a 12 month low of $25.62 and a 12 month high of $42.06. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.67 and a quick ratio of 0.67. The stock has a market capitalization of $3.26 billion, a PE ratio of 10.04, a price-to-earnings-growth ratio of 0.93 and a beta of 1.09.

NMI (NASDAQ:NMIH) last posted its quarterly earnings results on Tuesday, July 30th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.15. The firm had revenue of $162.12 million during the quarter, compared to analysts’ expectations of $138.49 million. NMI had a net margin of 56.40% and a return on equity of 18.29%. The firm’s revenue for the quarter was up 13.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.95 earnings per share. Equities analysts predict that NMI Holdings, Inc. will post 4.5 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently commented on NMIH. UBS Group lowered shares of NMI from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $37.00 to $39.00 in a research note on Wednesday, May 22nd. Royal Bank of Canada boosted their target price on NMI from $34.00 to $40.00 and gave the company a “sector perform” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. raised their price target on NMI from $40.00 to $42.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Barclays boosted their price objective on NMI from $41.00 to $43.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Finally, Keefe, Bruyette & Woods raised their target price on shares of NMI from $37.00 to $40.00 and gave the stock a “market perform” rating in a research report on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $40.00.

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.