NMI (NASDAQ:NMIH) Stock Rating Cut to Neutral at Bank of America

NMI (NASDAQ:NMIH) was downgraded by research analysts at Bank of America from a “buy” rating to a “neutral” rating in a report released on Friday, MarketBeat Ratings reports. They currently have a $44.00 target price on the financial services provider’s stock, down from their previous target price of $51.00. Bank of America‘s price target points to a potential upside of 1.90% from the stock’s current price.

A number of other brokerages have also recently weighed in on NMIH. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $53.00 price target on shares of NMI in a research report on Tuesday, August 4th. Keefe, Bruyette & Woods lowered NMI from an “outperform” rating to a “market perform” rating and set a $47.00 price objective on the stock. in a research report on Monday, August 3rd. Truist Financial boosted their price objective on NMI from $49.00 to $51.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. JPMorgan Chase & Co. decreased their target price on NMI from $50.00 to $45.00 and set an “overweight” rating for the company in a research report on Monday, October 12th. Finally, BTIG Research assumed coverage on NMI in a research note on Tuesday, September 22nd. They issued a “buy” rating and a $54.00 target price for the company. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, NMI has an average rating of “Moderate Buy” and an average target price of $47.88.

NMI Trading Up 2.5%

Shares of NMIH stock opened at $43.18 on Friday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.15. NMI has a fifty-two week low of $34.84 and a fifty-two week high of $46.74. The firm’s 50 day moving average price is $42.32 and its two-hundred day moving average price is $40.22. The stock has a market cap of $3.25 billion, a price-to-earnings ratio of 8.50, a price-to-earnings-growth ratio of 1.38 and a beta of 0.56.

NMI (NASDAQ:NMIH) last released its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.10. NMI had a net margin of 54.10% and a return on equity of 15.13%. The company had revenue of $187.89 million during the quarter, compared to analyst estimates of $156.26 million. During the same quarter in the prior year, the business earned $1.22 earnings per share. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. On average, analysts anticipate that NMI will post 5.26 EPS for the current year.

Insider Activity at NMI

In related news, EVP Robert Smith sold 12,000 shares of the business’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $44.65, for a total value of $535,800.00. Following the completion of the sale, the executive vice president directly owned 96,381 shares of the company’s stock, valued at $4,303,411.65. The trade was a 11.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Adam Pollitzer sold 172,706 shares of the stock in a transaction on Friday, September 4th. The stock was sold at an average price of $44.85, for a total transaction of $7,745,864.10. Following the sale, the chief executive officer directly owned 270,267 shares in the company, valued at $12,121,474.95. This trade represents a 38.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 196,368 shares of company stock valued at $8,800,740. Insiders own 2.44% of the company’s stock.

Institutional Investors Weigh In On NMI

A number of hedge funds have recently made changes to their positions in the business. Vise Technologies Inc. increased its stake in shares of NMI by 93.0% during the third quarter. Vise Technologies Inc. now owns 30,740 shares of the financial services provider’s stock valued at $1,147,000 after acquiring an additional 14,816 shares during the period. Summit Global Investments lifted its position in shares of NMI by 14.0% in the third quarter. Summit Global Investments now owns 31,858 shares of the financial services provider’s stock worth $1,189,000 after purchasing an additional 3,921 shares in the last quarter. State of Wyoming lifted its position in shares of NMI by 22.7% in the third quarter. State of Wyoming now owns 4,332 shares of the financial services provider’s stock worth $162,000 after purchasing an additional 802 shares in the last quarter. Signaturefd LLC boosted its holdings in shares of NMI by 81.2% during the third quarter. Signaturefd LLC now owns 2,251 shares of the financial services provider’s stock worth $84,000 after purchasing an additional 1,009 shares during the period. Finally, Citizens Financial Group Inc. RI boosted its holdings in shares of NMI by 23.1% during the third quarter. Citizens Financial Group Inc. RI now owns 12,216 shares of the financial services provider’s stock worth $456,000 after purchasing an additional 2,289 shares during the period. Institutional investors own 94.12% of the company’s stock.

NMI Company Profile

NMI Holdings, Inc (NASDAQ: NMIH) is the parent company of National MI, a U.S.-based provider of private mortgage insurance. Through its insurance subsidiaries, the company helps lenders manage the risk associated with residential mortgage loans, particularly loans made to borrowers with down payments below traditional thresholds.

National MI primarily offers private mortgage insurance for residential purchase and refinance transactions. Its products are designed for mortgage lenders, banks, credit unions and other housing-finance institutions, helping them expand access to homeownership while transferring a portion of potential credit risk.