Deutsche Bank upgraded shares of NMI (NASDAQ:NMIH) from a hold rating to a buy rating in a research report released on Monday morning, Marketbeat Ratings reports. They currently have $24.00 target price on the financial services provider’s stock, up from their previous target price of $17.00.
A number of other brokerages also recently issued reports on NMIH. Zacks Investment Research downgraded shares of NMI from a buy rating to a hold rating in a research report on Wednesday, January 3rd. ValuEngine downgraded shares of NMI from a buy rating to a hold rating in a research report on Monday, December 4th. BTIG Research reissued a buy rating and set a $21.00 price objective (up previously from $17.00) on shares of NMI in a research report on Wednesday, December 20th. BidaskClub downgraded shares of NMI from a strong-buy rating to a buy rating in a report on Saturday, December 30th. Finally, Keefe, Bruyette & Woods reaffirmed a buy rating and issued a $19.50 target price on shares of NMI in a report on Friday, November 3rd. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $18.36.
Shares of NMI (NMIH) opened at $18.50 on Monday. NMI has a 1 year low of $10.07 and a 1 year high of $18.95. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.24 and a current ratio of 0.24. The stock has a market cap of $1,110.00, a price-to-earnings ratio of 13.03 and a beta of 0.84.
In related news, VP Julie Norberg sold 16,600 shares of the company’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $16.73, for a total value of $277,718.00. Following the completion of the transaction, the vice president now owns 32,305 shares of the company’s stock, valued at approximately $540,462.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Claudia J. Merkle sold 15,000 shares of the company’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $17.80, for a total transaction of $267,000.00. The disclosure for this sale can be found here. Insiders sold a total of 41,600 shares of company stock valued at $714,618 in the last ninety days. 5.40% of the stock is currently owned by insiders.
A number of institutional investors have recently modified their holdings of the stock. Capital Research Global Investors boosted its holdings in NMI by 72.5% in the 2nd quarter. Capital Research Global Investors now owns 3,481,202 shares of the financial services provider’s stock worth $39,860,000 after buying an additional 1,462,624 shares during the period. Dimensional Fund Advisors LP lifted its stake in NMI by 15.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,812,446 shares of the financial services provider’s stock worth $34,875,000 after purchasing an additional 367,394 shares in the last quarter. Vanguard Group Inc. lifted its stake in NMI by 10.3% in the 2nd quarter. Vanguard Group Inc. now owns 2,569,591 shares of the financial services provider’s stock worth $29,421,000 after purchasing an additional 239,387 shares in the last quarter. FMR LLC lifted its stake in NMI by 7.8% in the 2nd quarter. FMR LLC now owns 2,488,937 shares of the financial services provider’s stock worth $28,499,000 after purchasing an additional 180,126 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in NMI by 2.2% in the 2nd quarter. Renaissance Technologies LLC now owns 2,024,900 shares of the financial services provider’s stock worth $23,185,000 after purchasing an additional 44,182 shares in the last quarter. 83.57% of the stock is owned by institutional investors.
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NMI Company Profile
NMI Holdings, Inc (NMIH) provides private mortgage guaranty insurance through its insurance subsidiaries. The Company’s primary insurance subsidiary, National Mortgage Insurance Corporation (NMIC), is a mortgage insurance (MI) provider on loans purchased by the Government-sponsored enterprises (GSEs).
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