Keefe, Bruyette & Woods reaffirmed their buy rating on shares of NMI (NASDAQ:NMIH) in a research report report published on Friday morning. The brokerage currently has a $25.00 price objective on the financial services provider’s stock.
NMIH has been the subject of several other research reports. Deutsche Bank raised NMI from a hold rating to a buy rating and increased their price target for the company from $17.00 to $24.00 in a research note on Monday, January 8th. BidaskClub raised NMI from a buy rating to a strong-buy rating in a research note on Thursday, January 18th. Zacks Investment Research raised NMI from a hold rating to a strong-buy rating and set a $20.00 price target for the company in a research note on Tuesday, January 9th. BTIG Research reissued a buy rating and issued a $17.00 price target on shares of NMI in a research note on Sunday, November 5th. Finally, ValuEngine cut NMI from a buy rating to a hold rating in a research note on Monday, December 4th. Eight research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. The company presently has an average rating of Buy and a consensus price target of $21.86.
Shares of NMI (NMIH) traded up $0.15 on Friday, reaching $21.25. The company’s stock had a trading volume of 322,873 shares, compared to its average volume of 480,353. NMI has a fifty-two week low of $10.10 and a fifty-two week high of $21.70. The company has a current ratio of 0.25, a quick ratio of 0.24 and a debt-to-equity ratio of 0.28. The firm has a market cap of $1,278.89, a PE ratio of 59.03 and a beta of 0.88.
NMI (NASDAQ:NMIH) last issued its quarterly earnings results on Thursday, February 15th. The financial services provider reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.05. The company had revenue of $54.54 million during the quarter, compared to analysts’ expectations of $51.32 million. NMI had a return on equity of 7.89% and a net margin of 12.07%. The business’s quarterly revenue was up 48.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.04 earnings per share. equities analysts forecast that NMI will post 1.38 earnings per share for the current fiscal year.
In related news, EVP Patrick L. Mathis sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $16.99, for a total transaction of $169,900.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Claudia J. Merkle sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $17.80, for a total value of $267,000.00. The disclosure for this sale can be found here. Company insiders own 5.40% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NMIH. BlackRock Inc. grew its stake in NMI by 82.9% during the fourth quarter. BlackRock Inc. now owns 7,192,807 shares of the financial services provider’s stock worth $122,278,000 after purchasing an additional 3,260,761 shares during the period. Deutsche Bank AG grew its stake in NMI by 954.5% during the fourth quarter. Deutsche Bank AG now owns 573,136 shares of the financial services provider’s stock worth $9,741,000 after purchasing an additional 518,786 shares during the period. Dimensional Fund Advisors LP grew its stake in NMI by 22.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,445,052 shares of the financial services provider’s stock worth $27,996,000 after purchasing an additional 446,918 shares during the period. Bank of New York Mellon Corp grew its stake in NMI by 173.4% during the fourth quarter. Bank of New York Mellon Corp now owns 672,977 shares of the financial services provider’s stock worth $11,441,000 after purchasing an additional 426,860 shares during the period. Finally, Chicago Equity Partners LLC acquired a new stake in NMI during the fourth quarter worth approximately $6,698,000. 88.14% of the stock is owned by institutional investors and hedge funds.
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NMI Company Profile
NMI Holdings, Inc (NMIH) provides private mortgage guaranty insurance through its insurance subsidiaries. The Company’s primary insurance subsidiary, National Mortgage Insurance Corporation (NMIC), is a mortgage insurance (MI) provider on loans purchased by the Government-sponsored enterprises (GSEs).
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