NMI (NASDAQ:NMIH) Lowered to “Neutral” at UBS Group

UBS Group lowered shares of NMI (NASDAQ:NMIH) from a buy rating to a neutral rating in a research note released on Wednesday morning, Marketbeat reports. The firm currently has $39.00 target price on the financial services provider’s stock, up from their previous target price of $37.00.

NMIH has been the subject of several other research reports. Royal Bank of Canada increased their price target on shares of NMI from $31.00 to $33.00 and gave the company a sector perform rating in a research note on Thursday, February 15th. JPMorgan Chase & Co. increased their price objective on shares of NMI from $35.00 to $36.00 and gave the stock an overweight rating in a research report on Wednesday, May 1st. Compass Point increased their price objective on shares of NMI from $33.00 to $36.00 and gave the stock a buy rating in a research report on Tuesday, May 7th. Keefe, Bruyette & Woods increased their target price on shares of NMI from $33.00 to $36.00 and gave the stock a market perform rating in a report on Thursday, April 4th. Finally, Truist Financial increased their target price on shares of NMI from $36.00 to $37.00 and gave the stock a buy rating in a report on Wednesday, May 1st. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $35.56.

NMI Stock Up 0.4 %

Shares of NASDAQ NMIH opened at $32.70 on Wednesday. NMI has a 12-month low of $24.29 and a 12-month high of $34.33. The stock has a market cap of $2.63 billion, a PE ratio of 8.09, a P/E/G ratio of 1.11 and a beta of 1.06. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.20. The company has a 50-day moving average of $31.67 and a 200 day moving average of $30.14.

NMI (NASDAQ:NMIH) last announced its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.12. NMI had a net margin of 56.26% and a return on equity of 18.09%. The company had revenue of $156.25 million during the quarter, compared to analysts’ expectations of $133.76 million. During the same quarter in the prior year, the company earned $0.88 EPS. NMI’s revenue was up 14.2% compared to the same quarter last year. As a group, sell-side analysts predict that NMI will post 4.24 EPS for the current fiscal year.

Insider Transactions at NMI

In related news, EVP Robert Owen Smith sold 3,000 shares of the stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $31.19, for a total value of $93,570.00. Following the completion of the transaction, the executive vice president now owns 82,612 shares in the company, valued at approximately $2,576,668.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director James G. Jones sold 54,900 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $30.16, for a total transaction of $1,655,784.00. Following the completion of the transaction, the director now owns 57,641 shares in the company, valued at approximately $1,738,452.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Robert Owen Smith sold 3,000 shares of the firm’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $31.19, for a total transaction of $93,570.00. Following the transaction, the executive vice president now owns 82,612 shares of the company’s stock, valued at approximately $2,576,668.28. The disclosure for this sale can be found here. Over the last quarter, insiders sold 125,763 shares of company stock worth $3,808,175. Insiders own 2.70% of the company’s stock.

Institutional Trading of NMI

A number of hedge funds have recently bought and sold shares of NMIH. Allspring Global Investments Holdings LLC lifted its position in shares of NMI by 33.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 9,677 shares of the financial services provider’s stock worth $262,000 after purchasing an additional 2,421 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. bought a new position in NMI during the third quarter valued at approximately $211,000. Los Angeles Capital Management LLC raised its position in NMI by 28.3% during the third quarter. Los Angeles Capital Management LLC now owns 79,569 shares of the financial services provider’s stock valued at $2,156,000 after acquiring an additional 17,574 shares in the last quarter. Assenagon Asset Management S.A. raised its position in NMI by 333.9% during the third quarter. Assenagon Asset Management S.A. now owns 457,162 shares of the financial services provider’s stock valued at $12,385,000 after acquiring an additional 351,792 shares in the last quarter. Finally, Versor Investments LP acquired a new position in NMI during the third quarter valued at approximately $203,000. 94.12% of the stock is owned by hedge funds and other 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.