Keefe, Bruyette & Woods Cuts NMI (NASDAQ:NMIH) Price Target to $42.00

NMI (NASDAQ:NMIH) had its price target lowered by Keefe, Bruyette & Woods from $43.00 to $42.00 in a research note issued to investors on Tuesday morning,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the financial services provider’s stock.

A number of other brokerages have also weighed in on NMIH. UBS Group cut their price target on shares of NMI from $42.00 to $41.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 19th. Barclays lowered shares of NMI from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $48.00 to $41.00 in a report on Monday, January 6th. Finally, JPMorgan Chase & Co. reduced their target price on shares of NMI from $42.00 to $41.00 and set an “overweight” rating for the company in a research note on Tuesday. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.14.

NMI Price Performance

NMIH opened at $33.23 on Tuesday. The stock has a market cap of $2.60 billion, a P/E ratio of 7.50, a P/E/G ratio of 1.41 and a beta of 0.62. NMI has a 12 month low of $29.05 and a 12 month high of $42.49. The company has a quick ratio of 0.83, a current ratio of 0.60 and a debt-to-equity ratio of 0.19. The company has a fifty day simple moving average of $35.58 and a 200 day simple moving average of $37.49.

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

Insider Activity at NMI

In other news, EVP Mohammad Nawaz Yousaf sold 1,083 shares of the company’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 transaction of $38,381.52. Following the sale, the executive vice president now owns 49,218 shares in the company, valued at $1,744,285.92. This represents a 2.15 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 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 completion of the transaction, the executive vice president now directly owns 37,470 shares of the company’s stock, valued at $1,344,423.60. This represents 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 insiders.

Institutional Trading of NMI

Several institutional investors and hedge funds have recently added to or reduced their stakes in NMIH. Principal Securities Inc. grew its position in shares of NMI by 66.5% in the 4th quarter. Principal Securities Inc. now owns 716 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 286 shares during the period. Smartleaf Asset Management LLC grew its holdings in NMI by 288.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,868 shares of the financial services provider’s stock worth $69,000 after purchasing an additional 1,387 shares during the period. Covestor Ltd increased its position in NMI by 601.1% during the fourth quarter. Covestor Ltd now owns 1,893 shares of the financial services provider’s stock worth $70,000 after buying an additional 1,623 shares during the last quarter. Sterling Capital Management LLC raised its stake in NMI by 786.1% in the fourth quarter. Sterling Capital Management LLC now owns 2,295 shares of the financial services provider’s stock valued at $84,000 after buying an additional 2,036 shares during the period. Finally, KBC Group NV lifted its position in shares of NMI by 38.3% in the fourth quarter. KBC Group NV now owns 3,221 shares of the financial services provider’s stock valued at $118,000 after buying an additional 892 shares during the last quarter. 94.12% of the stock is owned by institutional investors.

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.