UBS Group Lowers NMI (NASDAQ:NMIH) to Neutral

UBS Group lowered shares of NMI (NASDAQ:NMIH) from a buy rating to a neutral rating in a research report report published on Wednesday morning, Marketbeat.com reports. UBS Group currently has $39.00 price target on the financial services provider’s stock, up from their prior price target of $37.00.

Several other analysts have also recently commented on the stock. JPMorgan Chase & Co. raised their price target on shares of NMI from $35.00 to $36.00 and gave the stock an overweight rating in a report on Wednesday, May 1st. Royal Bank of Canada raised their price target on shares of NMI from $31.00 to $33.00 and gave the stock a sector perform rating in a report on Thursday, February 15th. Keefe, Bruyette & Woods lifted their target price on shares of NMI from $33.00 to $36.00 and gave the company a market perform rating in a research note on Thursday, April 4th. Truist Financial lifted their target price on shares of NMI from $36.00 to $37.00 and gave the company a buy rating in a research note on Wednesday, May 1st. Finally, StockNews.com raised shares of NMI from a hold rating to a buy rating in a research report on Friday, May 3rd. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $35.56.

NMI Stock Performance

Shares of NMIH opened at $32.70 on Wednesday. NMI has a one year low of $24.29 and a one year high of $34.33. The company has a 50-day moving average of $31.67 and a two-hundred day moving average of $30.14. The stock has a market cap of $2.63 billion, a price-to-earnings ratio of 8.09, a PEG ratio of 1.11 and a beta of 1.06. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.89 and a quick ratio of 0.89.

NMI (NASDAQ:NMIH) last posted its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $1.08 EPS for the quarter, topping the consensus estimate of $0.96 by $0.12. The business had revenue of $156.25 million during the quarter, compared to analysts’ expectations of $133.76 million. NMI had a net margin of 56.26% and a return on equity of 18.09%. The firm’s quarterly revenue was up 14.2% compared to the same quarter last year. During the same period last year, the company posted $0.88 earnings per share. On average, equities research analysts expect that NMI will post 4.24 earnings per share for the current year.

Insider Activity

In other news, Director James G. Jones sold 54,900 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $30.16, for a total value of $1,655,784.00. Following the sale, the director now owns 57,641 shares in the company, valued at approximately $1,738,452.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other NMI news, Director James G. Jones sold 54,900 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $30.16, for a total transaction of $1,655,784.00. Following the transaction, the director now owns 57,641 shares of the company’s stock, valued at approximately $1,738,452.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director James G. Jones sold 3,400 shares of NMI stock in a transaction on Monday, March 4th. The shares were sold at an average price of $30.10, for a total value of $102,340.00. Following the completion of the sale, the director now directly owns 54,241 shares of the company’s stock, valued at $1,632,654.10. The disclosure for this sale can be found here. In the last quarter, insiders have sold 125,763 shares of company stock worth $3,808,175. Corporate insiders own 2.70% of the company’s stock.

Hedge Funds Weigh In On NMI

Several hedge funds have recently added to or reduced their stakes in NMIH. Capital International Investors bought a new position in NMI in the first quarter valued at about $32,270,000. Norges Bank bought a new position in NMI in the fourth quarter valued at about $20,006,000. Assenagon Asset Management S.A. boosted its holdings in 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 during the last quarter. Vanguard Group Inc. boosted its holdings in NMI by 5.3% in the first quarter. Vanguard Group Inc. now owns 7,168,138 shares of the financial services provider’s stock valued at $231,818,000 after acquiring an additional 358,930 shares during the last quarter. Finally, Van Berkom & Associates Inc. boosted its holdings in NMI by 7.3% during the third quarter. Van Berkom & Associates Inc. now owns 2,708,797 shares of the financial services provider’s stock worth $73,381,000 after buying an additional 185,099 shares during the last quarter. Institutional investors own 94.12% of the company’s stock.

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.