Donald Smith & CO. Inc. Acquires 337,996 Shares of NMI Holdings, Inc. (NASDAQ:NMIH)

Donald Smith & CO. Inc. lifted its holdings in shares of NMI Holdings, Inc. (NASDAQ:NMIH) by 34.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,307,868 shares of the financial services provider’s stock after purchasing an additional 337,996 shares during the quarter. Donald Smith & CO. Inc.’s holdings in NMI were worth $48,077,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Norges Bank purchased a new stake in shares of NMI during the 4th quarter valued at $13,174,000. Raymond James Financial Inc. bought a new position in NMI in the fourth quarter valued at $13,136,000. Barclays PLC raised its position in NMI by 264.4% during the third quarter. Barclays PLC now owns 386,999 shares of the financial services provider’s stock valued at $15,940,000 after purchasing an additional 280,809 shares in the last quarter. abrdn plc bought a new stake in NMI during the fourth quarter worth about $8,122,000. Finally, JPMorgan Chase & Co. boosted its holdings in shares of NMI by 25.3% in the 4th quarter. JPMorgan Chase & Co. now owns 971,863 shares of the financial services provider’s stock worth $35,726,000 after purchasing an additional 196,059 shares in the last quarter. 94.12% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at NMI

In other news, EVP Mohammad Nawaz Yousaf sold 1,083 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $35.44, for a total value of $38,381.52. Following the completion of the transaction, the executive vice president now owns 49,218 shares in the company, valued at $1,744,285.92. This trade represents a 2.15 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Norman Peter Fitzgerald sold 20,000 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $35.88, for a total value of $717,600.00. Following the completion of the sale, the executive vice president now directly owns 37,470 shares in the company, valued at approximately $1,344,423.60. The trade was 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 owned by corporate insiders.

NMI Price Performance

NMIH opened at $36.98 on Thursday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.83 and a current ratio of 0.60. The stock has a market capitalization of $2.89 billion, a PE ratio of 8.35, a price-to-earnings-growth ratio of 1.41 and a beta of 0.62. The stock’s 50 day moving average price is $36.33 and its 200-day moving average price is $37.88. NMI Holdings, Inc. has a 52-week low of $29.05 and a 52-week high of $42.49.

NMI (NASDAQ:NMIH) last issued its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.07). NMI had a net margin of 55.32% and a return on equity of 17.33%. On average, equities research analysts predict that NMI Holdings, Inc. will post 4.62 EPS for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on the company. JPMorgan Chase & Co. cut their target price on NMI from $46.00 to $41.00 and set an “overweight” rating for the company in a research note on Monday, December 9th. UBS Group lowered their price target on shares of NMI from $42.00 to $41.00 and set a “neutral” rating for the company in a research note on Wednesday, February 19th. Barclays downgraded NMI from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $48.00 to $41.00 in a report on Monday, January 6th. Finally, Keefe, Bruyette & Woods upgraded NMI from a “market perform” rating to an “outperform” rating and set a $43.00 price target on the stock in a research report on Monday, February 24th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $42.29.

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.