Keefe, Bruyette & Woods Cuts NMI (NASDAQ:NMIH) Price Target to $42.00

NMI (NASDAQ:NMIH) had its target price trimmed by Keefe, Bruyette & Woods from $43.00 to $42.00 in a report issued on Tuesday morning,Benzinga reports. The firm currently has an outperform rating on the financial services provider’s stock.

A number of other equities analysts also recently weighed in on the stock. Barclays downgraded shares of NMI from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $48.00 to $41.00 in a research note on Monday, January 6th. UBS Group cut their target price on NMI from $42.00 to $41.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 19th. Finally, JPMorgan Chase & Co. lowered their target price on NMI from $42.00 to $41.00 and set an “overweight” rating for the company in a report on Tuesday. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, NMI has a consensus rating of “Moderate Buy” and an average price target of $42.14.

NMI Stock Performance

NASDAQ NMIH opened at $32.84 on Tuesday. The company has a market capitalization of $2.57 billion, a price-to-earnings ratio of 7.41, a PEG ratio of 1.41 and a beta of 0.62. The company has a quick ratio of 0.83, a current ratio of 0.60 and a debt-to-equity ratio of 0.19. NMI has a twelve month low of $29.05 and a twelve month high of $42.49. The stock has a fifty day simple moving average of $35.85 and a 200 day simple moving average of $37.61.

NMI (NASDAQ:NMIH) last issued its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $1.07 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.07). NMI had a net margin of 55.32% and a return on equity of 17.33%. Sell-side analysts expect that NMI will post 4.62 EPS for the current year.

Insider Transactions at NMI

In other NMI news, EVP Norman Peter Fitzgerald sold 20,000 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $35.88, for a total value of $717,600.00. Following the completion of the sale, the executive vice president now directly owns 37,470 shares of the company’s stock, valued at approximately $1,344,423.60. This represents a 34.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Mohammad Nawaz Yousaf sold 1,083 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $35.44, for a total transaction of $38,381.52. Following the completion of the sale, the executive vice president now owns 49,218 shares of the company’s stock, valued at approximately $1,744,285.92. This trade represents a 2.15 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.70% of the company’s stock.

Hedge Funds Weigh In On NMI

Several institutional investors have recently modified their holdings of the business. Principal Securities Inc. lifted its holdings in NMI by 66.5% during the fourth quarter. Principal Securities Inc. now owns 716 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 286 shares during the period. Smartleaf Asset Management LLC increased its position in shares of NMI by 288.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,868 shares of the financial services provider’s stock valued at $69,000 after purchasing an additional 1,387 shares during the last quarter. Covestor Ltd raised its stake in shares of NMI by 601.1% during the 4th quarter. Covestor Ltd now owns 1,893 shares of the financial services provider’s stock worth $70,000 after purchasing an additional 1,623 shares during the period. Sterling Capital Management LLC boosted its holdings in shares of NMI by 786.1% in the 4th quarter. Sterling Capital Management LLC now owns 2,295 shares of the financial services provider’s stock worth $84,000 after buying an additional 2,036 shares during the last quarter. Finally, KBC Group NV grew its position in NMI by 38.3% during the fourth quarter. KBC Group NV now owns 3,221 shares of the financial services provider’s stock valued at $118,000 after buying an additional 892 shares during the period. 94.12% of the stock is owned by institutional investors.

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.