UBS Group Lowers NMI (NASDAQ:NMIH) to Neutral

NMI (NASDAQ:NMIH) was downgraded by equities researchers at UBS Group from a “buy” rating to a “neutral” rating in a research report issued on Wednesday, Briefing.com reports. They presently have a $39.00 price objective on the financial services provider’s stock, up from their prior price objective of $37.00. UBS Group’s price target suggests a potential upside of 15.49% from the stock’s current price.

Other equities research analysts also recently issued research reports about the stock. Keefe, Bruyette & Woods lifted their price target on shares of NMI from $33.00 to $36.00 and gave the stock a “market perform” rating in a research note on Thursday, April 4th. JPMorgan Chase & Co. boosted their target price on shares of NMI from $35.00 to $36.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Truist Financial boosted their target price on shares of NMI from $36.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. StockNews.com upgraded shares of NMI from a “hold” rating to a “buy” rating in a research note on Friday, May 3rd. Finally, Compass Point boosted their target price on shares of NMI from $33.00 to $36.00 and gave the company a “buy” rating in a research note on Tuesday, May 7th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $35.56.

NMI Trading Up 1.2 %

Shares of NMI stock opened at $33.77 on Wednesday. The company’s fifty day simple moving average is $31.43 and its 200-day simple moving average is $30.05. The company has a market cap of $2.71 billion, a price-to-earnings ratio of 8.36, a PEG ratio of 1.16 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. NMI has a 1 year low of $24.29 and a 1 year high of $34.33.

NMI (NASDAQ:NMIH) last posted its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.12. NMI had a net margin of 56.26% and a return on equity of 18.09%. The firm had revenue of $156.25 million for the quarter, compared to the consensus estimate of $133.76 million. During the same quarter in the previous year, the company earned $0.88 earnings per share. The business’s revenue was up 14.2% compared to the same quarter last year. As a group, sell-side analysts expect that NMI will post 4.19 EPS for the current year.

Insider Transactions at NMI

In other news, EVP Robert Owen Smith sold 3,000 shares of the business’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $31.19, for a total transaction of $93,570.00. Following the completion of the transaction, the executive vice president now directly owns 82,612 shares in the company, valued at approximately $2,576,668.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director James G. Jones sold 3,400 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $30.10, for a total value of $102,340.00. Following the completion of the transaction, the director now directly owns 54,241 shares in the company, valued at approximately $1,632,654.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Robert Owen Smith sold 3,000 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at $2,576,668.28. The disclosure for this sale can be found here. In the last ninety days, insiders sold 125,763 shares of company stock worth $3,808,175. 2.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On NMI

Several institutional investors and hedge funds have recently modified their holdings of NMIH. Hancock Whitney Corp boosted its position in NMI by 1.6% during the 1st quarter. Hancock Whitney Corp now owns 22,098 shares of the financial services provider’s stock worth $715,000 after acquiring an additional 346 shares during the last quarter. Virtus Investment Advisers Inc. boosted its position in NMI by 4.6% during the 1st quarter. Virtus Investment Advisers Inc. now owns 32,106 shares of the financial services provider’s stock worth $1,038,000 after acquiring an additional 1,410 shares during the last quarter. Caxton Associates LP boosted its position in NMI by 82.5% during the 1st quarter. Caxton Associates LP now owns 27,328 shares of the financial services provider’s stock worth $884,000 after acquiring an additional 12,350 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in NMI by 5.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 57,639 shares of the financial services provider’s stock worth $1,865,000 after acquiring an additional 3,057 shares during the last quarter. Finally, BOKF NA boosted its position in NMI by 108.0% during the 1st quarter. BOKF NA now owns 9,871 shares of the financial services provider’s stock worth $313,000 after acquiring an additional 5,126 shares during the last quarter. 94.12% of the stock is currently owned by institutional investors and hedge funds.

About NMI

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.