NMI (NASDAQ:NMIH) Upgraded to “Outperform” at Keefe, Bruyette & Woods

NMI (NASDAQ:NMIH) was upgraded by equities researchers at Keefe, Bruyette & Woods from a “market perform” rating to an “outperform” rating in a research note issued on Thursday,Benzinga reports. The brokerage presently has a $48.00 target price on the financial services provider’s stock, up from their prior target price of $46.00. Keefe, Bruyette & Woods’ target price would suggest a potential upside of 18.64% from the stock’s current price.

NMIH has been the topic of several other reports. JPMorgan Chase & Co. dropped their price objective on NMI from $43.00 to $42.00 and set an “overweight” rating on the stock in a report on Wednesday, November 5th. Barclays reissued a “cautious” rating on shares of NMI in a research report on Monday, October 6th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of NMI in a research note on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $42.20.

NMI Stock Performance

Shares of NMIH stock opened at $40.46 on Thursday. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.86 and a quick ratio of 0.86. The company’s fifty day moving average price is $37.30 and its two-hundred day moving average price is $38.62. The firm has a market capitalization of $3.11 billion, a P/E ratio of 8.46, a P/E/G ratio of 1.24 and a beta of 0.66. NMI has a 12 month low of $31.90 and a 12 month high of $43.20.

NMI (NASDAQ:NMIH) last announced its earnings results on Tuesday, November 4th. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.21. NMI had a return on equity of 16.08% and a net margin of 55.02%.The business had revenue of $171.56 million for the quarter, compared to analyst estimates of $177.01 million. During the same period in the previous year, the company earned $1.15 earnings per share. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. On average, research analysts anticipate that NMI will post 4.62 earnings per share for the current fiscal year.

Insider Buying and Selling

In other NMI news, Director Michael J. Embler sold 20,000 shares of the company’s stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $36.90, for a total value of $738,000.00. Following the completion of the sale, the director directly owned 46,046 shares of the company’s stock, valued at approximately $1,699,097.40. This represents a 30.28% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On NMI

Several hedge funds have recently made changes to their positions in NMIH. Allworth Financial LP lifted its stake 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 last quarter. Maseco LLP bought a new position in shares of NMI in the second quarter valued at $32,000. Harbor Capital Advisors Inc. lifted its position in shares of NMI by 51.5% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 856 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 291 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of NMI during the 2nd quarter valued at $36,000. Finally, Elevation Point Wealth Partners LLC bought a new stake in shares of NMI during the 2nd quarter worth $49,000. Institutional investors and hedge funds own 94.12% of the company’s stock.

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.