Assenagon Asset Management S.A. Cuts Stake in NMI Holdings, Inc. (NASDAQ:NMIH)

Assenagon Asset Management S.A. cut its stake in NMI Holdings, Inc. (NASDAQ:NMIH) by 38.7% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,190,382 shares of the financial services provider’s stock after selling 752,046 shares during the quarter. Assenagon Asset Management S.A.’s holdings in NMI were worth $43,758,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Quarry LP raised its holdings in shares of NMI by 135.1% during the second quarter. Quarry LP now owns 858 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 493 shares during the last quarter. GAMMA Investing LLC raised its position in shares of NMI by 57.2% in the third quarter. GAMMA Investing LLC now owns 728 shares of the financial services provider’s stock valued at $30,000 after buying an additional 265 shares during the last quarter. USA Financial Formulas purchased a new position in shares of NMI in the third quarter worth about $57,000. Farther Finance Advisors LLC boosted its position in NMI by 989.9% during the third quarter. Farther Finance Advisors LLC now owns 3,248 shares of the financial services provider’s stock worth $134,000 after acquiring an additional 2,950 shares during the last quarter. Finally, CWM LLC grew its stake in NMI by 32.3% during the 3rd quarter. CWM LLC now owns 3,936 shares of the financial services provider’s stock valued at $162,000 after acquiring an additional 962 shares in the last quarter. 94.12% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on NMIH. Keefe, Bruyette & Woods lowered their target price on NMI from $44.00 to $43.00 and set a “market perform” rating on the stock in a report on Wednesday, January 8th. Royal Bank of Canada dropped their target price on NMI from $48.00 to $47.00 and set an “outperform” rating for the company in a report on Thursday, November 7th. Barclays lowered NMI from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $48.00 to $41.00 in a report on Monday, January 6th. Finally, JPMorgan Chase & Co. dropped 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. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, NMI presently has an average rating of “Moderate Buy” and a consensus price target of $42.00.

NMI Stock Up 1.9 %

Shares of NASDAQ:NMIH opened at $37.48 on Friday. The company has a market capitalization of $2.97 billion, a price-to-earnings ratio of 8.58, a PEG ratio of 0.82 and a beta of 1.12. NMI Holdings, Inc. has a 12-month low of $28.73 and a 12-month high of $42.49. The business has a 50-day moving average price of $37.65 and a 200 day moving average price of $38.47. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.19.

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.