NMI Holdings, Inc. (NASDAQ:NMIH) Receives Average Recommendation of “Moderate Buy” from Brokerages

NMI Holdings, Inc. (NASDAQ:NMIH) has earned an average recommendation of “Moderate Buy” from the eight brokerages that are presently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $34.44.

NMIH has been the subject of several research reports. Royal Bank of Canada raised their target price on NMI from $31.00 to $33.00 and gave the company a “sector perform” rating in a research note on Thursday, February 15th. JPMorgan Chase & Co. upped their price target on NMI from $34.00 to $35.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 3rd. StockNews.com downgraded NMI from a “buy” rating to a “hold” rating in a research note on Thursday, March 21st. Keefe, Bruyette & Woods upped their price target on NMI from $33.00 to $36.00 and gave the stock a “market perform” rating in a research note on Thursday, April 4th. Finally, Truist Financial upped their price target on NMI from $34.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, February 15th.

NMI Price Performance

NMI stock opened at $29.59 on Friday. The stock has a market capitalization of $2.38 billion, a price-to-earnings ratio of 7.74, a PEG ratio of 1.10 and a beta of 1.06. NMI has a 52-week low of $22.22 and a 52-week high of $32.50. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.73 and a current ratio of 0.73. The stock’s 50 day moving average price is $30.24 and its two-hundred day moving average price is $29.20.

NMI (NASDAQ:NMIH) last issued its earnings results on Wednesday, February 14th. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.06. NMI had a net margin of 55.63% and a return on equity of 17.97%. The business had revenue of $151.38 million for the quarter, compared to analyst estimates of $131.70 million. During the same period in the prior year, the firm earned $0.86 earnings per share. NMI’s revenue was up 13.7% on a year-over-year basis. On average, equities analysts predict that NMI will post 4.05 earnings per share for the current year.

Insider Transactions at NMI

In other news, EVP Mohammad Nawaz Yousaf sold 1,117 shares of the stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $29.95, for a total value of $33,454.15. Following the completion of the sale, the executive vice president now directly owns 32,909 shares of the company’s stock, valued at $985,624.55. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Chairman Bradley M. Shuster sold 6,559 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $29.81, for a total value of $195,523.79. Following the completion of the transaction, the chairman now directly owns 453,298 shares of the company’s stock, valued at $13,512,813.38. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Mohammad Nawaz Yousaf sold 1,117 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $29.95, for a total value of $33,454.15. Following the completion of the transaction, the executive vice president now directly owns 32,909 shares of the company’s stock, valued at $985,624.55. The disclosure for this sale can be found here. Insiders sold a total of 145,158 shares of company stock valued at $4,395,582 over the last ninety days. 2.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NMI

Several institutional investors have recently modified their holdings of NMIH. Norges Bank bought a new position in shares of NMI in the fourth quarter valued at approximately $18,362,000. State Street Corp grew its holdings in shares of NMI by 15.8% in the first quarter. State Street Corp now owns 4,053,585 shares of the financial services provider’s stock valued at $83,585,000 after acquiring an additional 551,924 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of NMI by 10.4% in the first quarter. Dimensional Fund Advisors LP now owns 4,441,230 shares of the financial services provider’s stock valued at $99,171,000 after acquiring an additional 417,095 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of NMI by 88.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 859,955 shares of the financial services provider’s stock valued at $25,523,000 after acquiring an additional 402,793 shares in the last quarter. Finally, Morgan Stanley grew its holdings in shares of NMI by 40.7% in the third quarter. Morgan Stanley now owns 1,022,943 shares of the financial services provider’s stock valued at $27,712,000 after acquiring an additional 295,742 shares in the last quarter. 94.12% of the stock is owned by institutional investors.

NMI Company Profile

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.