Keefe, Bruyette & Woods Lowers NMI (NASDAQ:NMIH) Price Target to $46.00

NMI (NASDAQ:NMIH) had its price objective dropped by equities research analysts at Keefe, Bruyette & Woods from $50.00 to $46.00 in a report issued on Monday,Benzinga reports. The firm currently has an “outperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price would suggest a potential upside of 23.62% from the stock’s previous close.

Other research analysts also recently issued research reports about the stock. JPMorgan Chase & Co. dropped their target price on shares of NMI from $44.00 to $43.00 and set an “overweight” rating on the stock in a research note on Thursday, April 9th. Weiss Ratings reiterated a “buy (b)” rating on shares of NMI in a research note on Thursday, January 22nd. UBS Group set a $43.00 target price on shares of NMI in a research note on Monday, January 12th. Finally, Barclays dropped their target price on shares of NMI from $44.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Monday, April 6th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, NMI currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.40.

NMI Price Performance

Shares of NMIH opened at $37.21 on Monday. The stock has a market cap of $2.83 billion, a PE ratio of 7.58, a price-to-earnings-growth ratio of 1.07 and a beta of 0.59. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.57 and a current ratio of 0.63. NMI has a fifty-two week low of $34.84 and a fifty-two week high of $43.20. The firm’s 50-day simple moving average is $38.65 and its two-hundred day simple moving average is $38.61.

NMI (NASDAQ:NMIH) last announced its quarterly earnings data on Thursday, April 30th. The financial services provider reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.06. The business had revenue of $183.48 million for the quarter, compared to analysts’ expectations of $153.99 million. NMI had a net margin of 53.82% and a return on equity of 15.18%. The business’s revenue was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.28 earnings per share. Analysts anticipate that NMI will post 5.13 earnings per share for the current fiscal year.

Insider Activity at NMI

In related news, EVP Mohammad Nawaz Yousaf sold 16,000 shares of the stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $39.89, for a total transaction of $638,240.00. Following the transaction, the executive vice president owned 38,733 shares in the company, valued at $1,545,059.37. This represents a 29.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Bradley M. Shuster sold 55,000 shares of the stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $39.63, for a total transaction of $2,179,650.00. Following the transaction, the chairman owned 415,411 shares in the company, valued at approximately $16,462,737.93. This trade represents a 11.69% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 189,412 shares of company stock worth $7,357,746 over the last quarter. Company insiders own 2.44% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NMIH. Allworth Financial LP lifted its position in NMI by 196.0% during the third quarter. Allworth Financial LP now owns 660 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 437 shares during the period. Maseco LLP purchased a new stake in NMI during the fourth quarter valued at approximately $31,000. IFP Advisors Inc increased its holdings in NMI by 189.5% during the fourth quarter. IFP Advisors Inc now owns 796 shares of the financial services provider’s stock valued at $32,000 after buying an additional 521 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in NMI by 161.5% during the fourth quarter. Farther Finance Advisors LLC now owns 1,004 shares of the financial services provider’s stock valued at $41,000 after buying an additional 620 shares during the last quarter. Finally, Rockefeller Capital Management L.P. increased its holdings in NMI by 35.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,160 shares of the financial services provider’s stock valued at $47,000 after buying an additional 301 shares during the last quarter. Institutional investors 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.