Keefe, Bruyette & Woods Boosts NMI (NASDAQ:NMIH) Price Target to $47.00

NMI (NASDAQ:NMIH) had its target price boosted by Keefe, Bruyette & Woods from $46.00 to $47.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective would suggest a potential upside of 18.88% from the company’s previous close.

A number of other analysts have also recently weighed in on the stock. Royal Bank Of Canada assumed coverage on shares of NMI in a research note on Friday, May 22nd. They set an “outperform” rating and a $46.00 target price on the stock. UBS Group set a $46.00 price target on NMI in a research note on Friday, May 22nd. Weiss Ratings upgraded NMI from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, June 12th. JPMorgan Chase & Co. reduced their price objective on NMI from $44.00 to $43.00 and set an “overweight” rating on the stock in a research report on Thursday, April 9th. Finally, Barclays lowered their target price on NMI from $44.00 to $43.00 and set an “equal weight” rating for the company in a report on Monday, April 6th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, NMI presently has an average rating of “Moderate Buy” and an average target price of $45.00.

NMI Price Performance

NASDAQ:NMIH traded up $0.09 during trading hours on Thursday, hitting $39.54. The company’s stock had a trading volume of 159,838 shares, compared to its average volume of 500,408. The stock has a fifty day simple moving average of $38.04 and a 200-day simple moving average of $38.68. The company has a market capitalization of $3.00 billion, a P/E ratio of 8.05, a PEG ratio of 1.33 and a beta of 0.55. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.63 and a quick ratio of 0.63. NMI has a twelve month low of $34.84 and a twelve month high of $43.20.

NMI (NASDAQ:NMIH) last issued its earnings results on Thursday, April 30th. The financial services provider reported $1.28 EPS for the quarter, topping the consensus estimate of $1.22 by $0.06. The firm had revenue of $183.47 million during the quarter, compared to the consensus estimate of $153.99 million. NMI had a return on equity of 15.18% and a net margin of 53.82%.The business’s quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.28 earnings per share. On average, analysts anticipate that NMI will post 5.12 EPS for the current fiscal year.

Insider Transactions at NMI

In related news, Director Michael Curry Montgomery sold 1,554 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $37.90, for a total transaction of $58,896.60. Following the transaction, the director directly owned 69,026 shares of the company’s stock, valued at approximately $2,616,085.40. This represents a 2.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.44% of the stock is currently owned by corporate insiders.

Institutional Trading of NMI

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE grew its holdings in NMI by 95.3% during the third quarter. Bank of America Corp DE now owns 1,014,557 shares of the financial services provider’s stock worth $38,898,000 after buying an additional 495,144 shares in the last quarter. River Road Asset Management LLC purchased a new position in NMI during the 4th quarter worth $15,104,000. BNP Paribas Financial Markets boosted its holdings in NMI by 184.3% during the 2nd quarter. BNP Paribas Financial Markets now owns 427,397 shares of the financial services provider’s stock worth $18,032,000 after acquiring an additional 277,065 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of NMI by 85.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 600,139 shares of the financial services provider’s stock worth $23,009,000 after acquiring an additional 276,897 shares in the last quarter. Finally, Jane Street Group LLC grew its stake in shares of NMI by 1,312.9% in the 1st quarter. Jane Street Group LLC now owns 224,152 shares of the financial services provider’s stock worth $8,081,000 after acquiring an additional 208,287 shares in the last quarter. 94.12% of the stock is owned by institutional investors.

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.