Congress Wealth Management LLC DE Takes $226,000 Position in NMI Holdings, Inc. (NASDAQ:NMIH)

Congress Wealth Management LLC DE bought a new position in NMI Holdings, Inc. (NASDAQ:NMIH) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 6,147 shares of the financial services provider’s stock, valued at approximately $226,000.

A number of other institutional investors have also recently bought and sold shares of NMIH. Charles Schwab Investment Management Inc. boosted its holdings in shares of NMI by 2.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,064,081 shares of the financial services provider’s stock valued at $43,829,000 after purchasing an additional 22,756 shares during the last quarter. Citigroup Inc. boosted its holdings in NMI by 95.4% in the third quarter. Citigroup Inc. now owns 129,180 shares of the financial services provider’s stock valued at $5,321,000 after acquiring an additional 63,058 shares during the last quarter. Cerity Partners LLC grew its position in NMI by 11.1% during the third quarter. Cerity Partners LLC now owns 17,828 shares of the financial services provider’s stock valued at $734,000 after acquiring an additional 1,786 shares during the period. Daiwa Securities Group Inc. increased its stake in NMI by 77.4% during the third quarter. Daiwa Securities Group Inc. now owns 11,000 shares of the financial services provider’s stock worth $453,000 after acquiring an additional 4,800 shares during the last quarter. Finally, FMR LLC raised its holdings in shares of NMI by 7.6% in the 3rd quarter. FMR LLC now owns 1,517,092 shares of the financial services provider’s stock worth $62,489,000 after purchasing an additional 107,771 shares during the period. 94.12% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. UBS Group decreased their target price on NMI from $42.00 to $41.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th. Keefe, Bruyette & Woods raised shares of NMI from a “market perform” rating to an “outperform” rating and set a $43.00 price objective for the company in a research report on Monday, February 24th. JPMorgan Chase & Co. reduced their target price on shares of NMI from $46.00 to $41.00 and set an “overweight” rating on the stock in a report on Monday, December 9th. Finally, Barclays downgraded NMI from an “overweight” rating to an “equal weight” rating and lowered their price target 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 given a buy rating to the company. Based on data from MarketBeat, NMI has an average rating of “Moderate Buy” and an average target price of $42.29.

NMI Stock Performance

NMI stock opened at $36.00 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.60 and a quick ratio of 0.83. The firm’s fifty day moving average price is $36.41 and its 200 day moving average price is $37.96. The company has a market capitalization of $2.82 billion, a price-to-earnings ratio of 8.13, a price-to-earnings-growth ratio of 1.41 and a beta of 1.02. NMI Holdings, Inc. has a 12-month low of $29.05 and a 12-month high of $42.49.

NMI (NASDAQ:NMIH) last released its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $1.07 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%. On average, research analysts forecast that NMI Holdings, Inc. will post 4.62 EPS for the current fiscal year.

Insider Buying and Selling at NMI

In related news, EVP Mohammad Nawaz Yousaf sold 1,083 shares of the company’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $35.44, for a total value of $38,381.52. Following the sale, the executive vice president now directly 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 legal filing with the SEC, which is accessible through this link. Also, EVP Norman Peter Fitzgerald sold 20,000 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $35.88, for a total transaction of $717,600.00. Following the transaction, the executive vice president now directly owns 37,470 shares of the company’s stock, valued at approximately $1,344,423.60. This represents a 34.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.70% of the stock is currently owned by corporate insiders.

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.