Arizona State Retirement System Has $1.82 Million Position in NMI Holdings Inc (NMIH)

Arizona State Retirement System increased its stake in shares of NMI Holdings Inc (NASDAQ:NMIH) by 7.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 102,104 shares of the financial services provider’s stock after buying an additional 6,718 shares during the quarter. Arizona State Retirement System’s holdings in NMI were worth $1,823,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of NMI by 31.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,718 shares of the financial services provider’s stock worth $84,000 after purchasing an additional 1,117 shares during the period. Lavaca Capital LLC acquired a new position in NMI in the fourth quarter valued at about $25,000. New York State Teachers Retirement System grew its stake in NMI by 5.6% in the fourth quarter. New York State Teachers Retirement System now owns 34,815 shares of the financial services provider’s stock valued at $621,000 after acquiring an additional 1,849 shares during the period. Navellier & Associates Inc grew its stake in NMI by 3.4% in the fourth quarter. Navellier & Associates Inc now owns 60,694 shares of the financial services provider’s stock valued at $1,083,000 after acquiring an additional 1,978 shares during the period. Finally, State of Alaska Department of Revenue grew its stake in NMI by 14.7% in the third quarter. State of Alaska Department of Revenue now owns 21,877 shares of the financial services provider’s stock valued at $495,000 after acquiring an additional 2,797 shares during the period. 90.77% of the stock is owned by institutional investors and hedge funds.

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A number of research firms have issued reports on NMIH. Barclays set a $27.00 target price on NMI and gave the company a “buy” rating in a research note on Friday, December 14th. ValuEngine cut NMI from a “buy” rating to a “hold” rating in a research note on Tuesday, November 20th. JPMorgan Chase & Co. began coverage on NMI in a research note on Tuesday, December 11th. They issued an “overweight” rating and a $25.00 target price for the company. BidaskClub raised NMI from a “hold” rating to a “buy” rating in a research note on Friday, January 25th. Finally, Zacks Investment Research raised NMI from a “hold” rating to a “strong-buy” rating and set a $24.00 target price for the company in a research note on Friday, November 2nd. Eleven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. NMI presently has a consensus rating of “Buy” and a consensus target price of $24.80.

Shares of NMI stock opened at $22.79 on Friday. The stock has a market capitalization of $1.47 billion, a PE ratio of 39.98 and a beta of 1.26. NMI Holdings Inc has a one year low of $13.35 and a one year high of $24.50. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.29 and a current ratio of 0.29.

NMI (NASDAQ:NMIH) last issued its quarterly earnings results on Tuesday, February 12th. The financial services provider reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.01. The company had revenue of $76.26 million for the quarter, compared to analyst estimates of $77.40 million. NMI had a return on equity of 15.86% and a net margin of 27.89%. Analysts predict that NMI Holdings Inc will post 1.65 earnings per share for the current fiscal year.

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NMI Profile

NMI Holdings, Inc, through its subsidiaries, provides private mortgage guaranty insurance services in the United States. The company offers mortgage insurance; reinsurance on loans; 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.

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