PNC Financial Services Group Inc. Has $258,000 Stock Position in NMI Holdings, Inc. (NASDAQ:NMIH)

PNC Financial Services Group Inc. reduced its holdings in NMI Holdings, Inc. (NASDAQ:NMIHFree Report) by 35.8% in the fourth quarter, HoldingsChannel reports. The firm owned 8,678 shares of the financial services provider’s stock after selling 4,837 shares during the period. PNC Financial Services Group Inc.’s holdings in NMI were worth $258,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of NMI in the 4th quarter valued at $20,006,000. Assenagon Asset Management S.A. grew its holdings in NMI by 88.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 859,955 shares of the financial services provider’s stock worth $25,523,000 after purchasing an additional 402,793 shares during the period. Comerica Bank bought a new stake in NMI in the third quarter valued at $4,914,000. Vanguard Group Inc. raised its holdings in shares of NMI by 2.5% during the third quarter. Vanguard Group Inc. now owns 6,583,844 shares of the financial services provider’s stock valued at $178,356,000 after purchasing an additional 162,614 shares during the period. Finally, Qube Research & Technologies Ltd boosted its position in shares of NMI by 171.5% during the 3rd quarter. Qube Research & Technologies Ltd now owns 237,459 shares of the financial services provider’s stock worth $6,433,000 after purchasing an additional 150,000 shares in the last quarter. 94.12% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other NMI news, EVP Mohammad Nawaz Yousaf sold 1,117 shares of the stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $29.95, for a total transaction of $33,454.15. Following the completion of the transaction, the executive vice president now owns 32,909 shares in the company, valued at $985,624.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director James G. Jones sold 48,294 shares of the business’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $30.46, for a total transaction of $1,471,035.24. Following the sale, the director now directly owns 5,847 shares in the company, valued at approximately $178,099.62. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Mohammad Nawaz Yousaf sold 1,117 shares of the business’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $29.95, for a total value of $33,454.15. Following the sale, the executive vice president now owns 32,909 shares in the company, valued at $985,624.55. The disclosure for this sale can be found here. In the last 90 days, insiders sold 67,463 shares of company stock valued at $2,050,051. 2.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

NMIH has been the subject of a number of research analyst reports. Royal Bank of Canada boosted their target price on NMI from $31.00 to $33.00 and gave the company a “sector perform” rating in a research report on Thursday, February 15th. UBS Group downgraded NMI from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $37.00 to $39.00 in a report on Wednesday, May 22nd. JPMorgan Chase & Co. increased 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 boosted their price target on shares of NMI from $33.00 to $36.00 and gave the company a “market perform” rating in a research note on Thursday, April 4th. Finally, Compass Point upped their price objective on shares of NMI from $33.00 to $36.00 and gave the stock a “buy” rating in a report on Tuesday, May 7th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.56.

Get Our Latest Report on NMIH

NMI Price Performance

NMI stock opened at $33.02 on Friday. The firm has a 50 day moving average price of $32.00 and a 200-day moving average price of $30.44. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.20. NMI Holdings, Inc. has a twelve month low of $24.53 and a twelve month high of $34.33. The company has a market capitalization of $2.65 billion, a P/E ratio of 8.17, a P/E/G ratio of 1.13 and a beta of 1.08.

NMI (NASDAQ:NMIHGet Free Report) last announced its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $1.08 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.12. NMI had a return on equity of 18.09% and a net margin of 56.26%. The business had revenue of $156.25 million during the quarter, compared to analyst estimates of $133.76 million. During the same period in the prior year, the company earned $0.88 earnings per share. NMI’s revenue was up 14.2% compared to the same quarter last year. As a group, equities analysts predict that NMI Holdings, Inc. will post 4.24 EPS for the current year.

About NMI

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding NMIH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NMI Holdings, Inc. (NASDAQ:NMIHFree Report).

Institutional Ownership by Quarter for NMI (NASDAQ:NMIH)

Receive News & Ratings for NMI Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NMI and related companies with MarketBeat.com's FREE daily email newsletter.