NMI Holdings, Inc. (NASDAQ:NMIH) Given Average Rating of “Hold” by Brokerages

NMI Holdings, Inc. (NASDAQ:NMIH – Get Rating) has earned an average recommendation of “Hold” from the ten research firms that are covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $25.38.

Several analysts recently issued reports on NMIH shares. JPMorgan Chase & Co. dropped their price objective on shares of NMI from $26.00 to $25.00 and set an “overweight” rating for the company in a research note on Monday, April 17th. Citigroup upped their price objective on shares of NMI from $26.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, February 15th. Finally, StockNews.com initiated coverage on shares of NMI in a report on Thursday, May 18th. They issued a “buy” rating on the stock.

Insider Buying and Selling at NMI

In other news, Director Michael Curry Montgomery sold 2,776 shares of the company’s stock in a transaction that occurred on Friday, May 12th. The shares were sold at an average price of $23.72, for a total value of $65,846.72. Following the transaction, the director now directly owns 61,678 shares in the company, valued at approximately $1,463,002.16. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On NMI

Several large investors have recently made changes to their positions in the stock. BlackRock Inc. lifted its holdings in shares of NMI by 1.3% in the 1st quarter. BlackRock Inc. now owns 13,781,315 shares of the financial services provider’s stock worth $284,172,000 after acquiring an additional 182,001 shares during the last quarter. Vanguard Group Inc. increased its stake in NMI by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 6,025,582 shares of the financial services provider’s stock worth $122,741,000 after buying an additional 87,147 shares during the period. Dimensional Fund Advisors LP increased its stake in NMI by 10.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,441,230 shares of the financial services provider’s stock worth $99,171,000 after buying an additional 417,095 shares during the period. State Street Corp increased its stake in NMI by 15.8% during the 1st quarter. State Street Corp now owns 4,053,585 shares of the financial services provider’s stock worth $83,585,000 after buying an additional 551,924 shares during the period. Finally, Macquarie Group Ltd. increased its stake in NMI by 2.2% during the 1st quarter. Macquarie Group Ltd. now owns 3,833,170 shares of the financial services provider’s stock worth $85,595,000 after buying an additional 83,594 shares during the period. 97.15% of the stock is currently owned by institutional investors and hedge funds.

NMI Stock Down 1.5 %

Shares of NASDAQ NMIH opened at $24.61 on Thursday. NMI has a 12-month low of $15.33 and a 12-month high of $25.90. The stock has a market cap of $2.05 billion, a PE ratio of 7.03 and a beta of 1.26. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.23. The company has a 50-day moving average of $22.91 and a 200 day moving average of $22.18.

NMI (NASDAQ:NMIH – Get Rating) last announced its quarterly earnings data on Tuesday, May 2nd. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.02. NMI had a net margin of 56.26% and a return on equity of 18.75%. The company had revenue of $133.10 million during the quarter, compared to analysts’ expectations of $134.93 million. During the same quarter in the prior year, the company earned $0.77 EPS. NMI’s revenue was up 4.5% compared to the same quarter last year. As a group, sell-side analysts predict that NMI will post 3.58 EPS for the current fiscal year.

About NMI

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NMI Holdings, Inc engages in the provision of private mortgage guaranty insurance. It focuses on long-term customer relationships, disciplined and proactive risk selection and pricing, fair and transparent claims payment practices, responsive customer service, financial strength, and profitability. The company was founded on May 19, 2011 and is headquartered in Emeryville, CA.