NMI (NASDAQ:NMIH) Downgraded by Keefe, Bruyette & Woods to “Hold”

Keefe, Bruyette & Woods downgraded shares of NMI (NASDAQ:NMIH) from a moderate buy rating to a hold rating in a research note released on Sunday,Zacks.com reports.

NMIH has been the topic of several other research reports. JPMorgan Chase & Co. raised their price objective on NMI from $48.00 to $50.00 and gave the company an “overweight” rating in a report on Friday. Truist Financial upped their price objective on NMI from $49.00 to $51.00 and gave the company a “buy” rating in a research note on Friday. Barclays lowered their target price on NMI from $44.00 to $43.00 and set an “equal weight” rating for the company in a research report on Monday, April 6th. Weiss Ratings upgraded shares of NMI from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, June 12th. Finally, UBS Group set a $46.00 price target on shares of NMI in a research report on Friday, May 22nd. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.17.

NMI Price Performance

Shares of NASDAQ:NMIH opened at $44.58 on Friday. NMI has a one year low of $34.84 and a one year high of $46.74. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.65 and a quick ratio of 0.63. The company has a market cap of $3.39 billion, a price-to-earnings ratio of 8.78, a PEG ratio of 1.53 and a beta of 0.53. The firm has a 50 day simple moving average of $39.76 and a 200 day simple moving average of $39.04.

NMI (NASDAQ:NMIH) last posted its earnings results on Thursday, July 30th. The financial services provider reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.10. The firm had revenue of $187.89 million for the quarter, compared to analysts’ expectations of $156.26 million. NMI had a net margin of 54.10% and a return on equity of 15.13%. The company’s revenue was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.22 earnings per share. Research analysts predict that NMI will post 5.14 earnings per share for the current fiscal year.

Insider Buying and Selling at NMI

In other news, Director Michael Curry Montgomery sold 1,554 shares of NMI stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $37.90, for a total value of $58,896.60. Following the completion of the sale, the director owned 69,026 shares in the company, valued at $2,616,085.40. The trade was a 2.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.44% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On NMI

A number of large investors have recently bought and sold shares of the stock. Allworth Financial LP raised its holdings in shares of 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 acquired a new stake in shares of NMI in the 4th quarter valued at about $31,000. IFP Advisors Inc grew its stake in shares of NMI by 189.5% in the 4th 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 period. Pacer Advisors Inc. increased its position in NMI by 58.7% in the 1st quarter. Pacer Advisors Inc. now owns 1,006 shares of the financial services provider’s stock valued at $38,000 after buying an additional 372 shares in the last quarter. Finally, Bessemer Group Inc. increased its position in NMI by 34.0% in the 1st quarter. Bessemer Group Inc. now owns 1,071 shares of the financial services provider’s stock valued at $40,000 after buying an additional 272 shares in the last quarter. 94.12% of the stock is currently owned by institutional investors and hedge funds.

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.