NMI (NASDAQ:NMIH) Upgraded at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods upgraded shares of NMI (NASDAQ:NMIH) from a market perform rating to an outperform rating in a research note published on Thursday, MarketBeat Ratings reports. Keefe, Bruyette & Woods currently has $48.00 price objective on the financial services provider’s stock, up from their previous price objective of $46.00.

Several other brokerages have also recently commented on NMIH. Barclays reiterated a “cautious” rating on shares of NMI in a report on Monday, October 6th. Weiss Ratings restated a “buy (b)” rating on shares of NMI in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. lowered their target price on shares of NMI from $43.00 to $42.00 and set an “overweight” rating for the company in a research note on Wednesday, November 5th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.20.

NMI Trading Down 1.8%

NMIH opened at $41.07 on Thursday. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.86 and a quick ratio of 0.86. NMI has a fifty-two week low of $31.90 and a fifty-two week high of $43.20. The company’s 50 day moving average price is $37.53 and its two-hundred day moving average price is $38.65. The firm has a market capitalization of $3.16 billion, a price-to-earnings ratio of 8.59, a PEG ratio of 1.27 and a beta of 0.66.

NMI (NASDAQ:NMIH) last issued its quarterly earnings results on Tuesday, November 4th. The financial services provider reported $1.21 EPS for the quarter, hitting analysts’ consensus estimates of $1.21. The company had revenue of $171.56 million for the quarter, compared to analyst estimates of $177.01 million. NMI had a net margin of 55.02% and a return on equity of 16.08%. NMI’s revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.15 earnings per share. As a group, research analysts predict that NMI will post 4.62 earnings per share for the current year.

Insider Transactions at NMI

In other NMI news, Director Michael J. Embler sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $36.90, for a total value of $738,000.00. Following the completion of the sale, the director owned 46,046 shares of the company’s stock, valued at approximately $1,699,097.40. This trade represents a 30.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 3.00% of the company’s stock.

Institutional Trading of NMI

Several hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP grew its holdings in shares of NMI by 0.7% in the third quarter. Dimensional Fund Advisors LP now owns 4,288,867 shares of the financial services provider’s stock valued at $164,437,000 after acquiring an additional 31,570 shares in the last quarter. American Century Companies Inc. boosted its position in NMI by 5.8% in the third quarter. American Century Companies Inc. now owns 2,379,801 shares of the financial services provider’s stock worth $91,242,000 after purchasing an additional 130,002 shares during the last quarter. Geode Capital Management LLC grew its stake in NMI by 0.3% in the 2nd quarter. Geode Capital Management LLC now owns 1,966,970 shares of the financial services provider’s stock valued at $82,996,000 after purchasing an additional 5,628 shares during the period. Van Berkom & Associates Inc. increased its position in shares of NMI by 0.4% during the 3rd quarter. Van Berkom & Associates Inc. now owns 1,909,630 shares of the financial services provider’s stock valued at $73,215,000 after purchasing an additional 7,973 shares during the last quarter. Finally, Millennium Management LLC raised its stake in shares of NMI by 209.9% during the 1st quarter. Millennium Management LLC now owns 1,432,950 shares of the financial services provider’s stock worth $51,658,000 after purchasing an additional 970,551 shares during the period. Institutional investors and hedge funds own 94.12% of the company’s stock.

About NMI

NMI Holdings, Inc (NASDAQ: NMIH) is a publicly traded mortgage insurance company that provides private mortgage insurance to lenders across the United States and Canada. Through its principal subsidiary, National Mortgage Insurance Corporation, NMI underwrites and issues policies that protect originators and investors against losses arising from borrower default on residential mortgage loans. By mitigating credit risk on higher?loan?to?value mortgages, the company supports homebuyers’ access to financing and contributes to overall market liquidity.

Beyond its core mortgage insurance products, NMI offers credit risk?sharing and reinsurance solutions designed to help clients optimize capital utilization and manage portfolio exposure.