Connor Clark & Lunn Investment Management Ltd. Has $1.61 Million Stock Position in NMI Holdings, Inc. (NASDAQ:NMIH)

Connor Clark & Lunn Investment Management Ltd. cut its stake in shares of NMI Holdings, Inc. (NASDAQ:NMIH) by 18.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 43,913 shares of the financial services provider’s stock after selling 9,984 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in NMI were worth $1,614,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Moran Wealth Management LLC increased its stake in shares of NMI by 33.6% during the third quarter. Moran Wealth Management LLC now owns 14,244 shares of the financial services provider’s stock worth $587,000 after purchasing an additional 3,585 shares during the period. Intech Investment Management LLC increased its position in NMI by 50.8% during the 3rd quarter. Intech Investment Management LLC now owns 35,011 shares of the financial services provider’s stock worth $1,442,000 after buying an additional 11,798 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of NMI by 2.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,064,081 shares of the financial services provider’s stock worth $43,829,000 after buying an additional 22,756 shares in the last quarter. Citigroup Inc. boosted its position in shares of 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 period. Finally, Cerity Partners LLC grew its stake in shares of NMI by 11.1% in 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 in the last quarter. Institutional investors own 94.12% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on NMIH shares. JPMorgan Chase & Co. cut their price objective on shares of NMI from $46.00 to $41.00 and set an “overweight” rating for the company in a report on Monday, December 9th. Keefe, Bruyette & Woods upgraded NMI from a “market perform” rating to an “outperform” rating and set a $43.00 price target for the company in a research note on Monday, February 24th. Barclays lowered NMI from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $48.00 to $41.00 in a research note on Monday, January 6th. Finally, UBS Group cut their target price on NMI from $42.00 to $41.00 and set a “neutral” rating for the company in a research report on Wednesday, February 19th. Three equities research 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, NMI has an average rating of “Moderate Buy” and an average target price of $42.29.

NMI Trading Up 0.4 %

Shares of NMIH stock opened at $35.42 on Thursday. NMI Holdings, Inc. has a fifty-two week low of $29.05 and a fifty-two week high of $42.49. The stock’s fifty day moving average price is $36.44 and its two-hundred day moving average price is $38.19. 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 company has a market cap of $2.78 billion, a PE ratio of 8.00, a P/E/G ratio of 1.41 and a beta of 1.02.

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

Insider Activity

In related news, EVP Mohammad Nawaz Yousaf sold 1,083 shares of NMI stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $35.44, for a total transaction of $38,381.52. Following the sale, the executive vice president now directly 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Norman Peter Fitzgerald sold 20,000 shares of the firm’s stock in a transaction on Monday, February 24th. The shares were 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 $1,344,423.60. The trade was a 34.80 % decrease in their position. The disclosure for this sale can be found here. 2.40% 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.