Barclays Downgrades NMI (NASDAQ:NMIH) to Equal Weight

NMI (NASDAQ:NMIH) was downgraded by stock analysts at Barclays from an “overweight” rating to an “equal weight” rating in a research report issued to clients and investors on Monday, MarketBeat reports. They presently have a $41.00 target price on the financial services provider’s stock, down from their previous target price of $48.00. Barclays‘s target price indicates a potential upside of 14.49% from the company’s previous close.

Several other research firms also recently issued reports on NMIH. Royal Bank of Canada dropped their target price on NMI from $48.00 to $47.00 and set an “outperform” rating on the stock in a research report on Thursday, November 7th. Keefe, Bruyette & Woods increased their price objective on NMI from $43.00 to $44.00 and gave the stock a “market perform” rating in a report on Tuesday, December 10th. Finally, JPMorgan Chase & Co. reduced their target price on NMI from $46.00 to $41.00 and set an “overweight” rating for the company in a report on Monday, December 9th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $42.14.

NMI Stock Up 0.5 %

NMIH opened at $35.81 on Monday. The company’s 50-day moving average price is $37.99 and its two-hundred day moving average price is $38.40. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.19. NMI has a twelve month low of $28.67 and a twelve month high of $42.49. The stock has a market cap of $2.83 billion, a price-to-earnings ratio of 8.19, a PEG ratio of 0.92 and a beta of 1.12.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in NMIH. Jane Street Group LLC boosted its holdings in shares of NMI by 64.2% during the 3rd quarter. Jane Street Group LLC now owns 139,173 shares of the financial services provider’s stock valued at $5,733,000 after acquiring an additional 54,391 shares during the last quarter. Algert Global LLC lifted its position in NMI by 88.9% during the third quarter. Algert Global LLC now owns 142,141 shares of the financial services provider’s stock valued at $5,855,000 after purchasing an additional 66,880 shares during the period. Edgestream Partners L.P. boosted its holdings in NMI by 13.1% in the second quarter. Edgestream Partners L.P. now owns 172,794 shares of the financial services provider’s stock worth $5,882,000 after purchasing an additional 20,048 shares during the last quarter. JPMorgan Chase & Co. grew its position in NMI by 3.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 775,804 shares of the financial services provider’s stock worth $31,955,000 after purchasing an additional 24,838 shares during the period. Finally, Citigroup Inc. raised its stake in NMI by 95.4% during the 3rd quarter. Citigroup Inc. now owns 129,180 shares of the financial services provider’s stock valued at $5,321,000 after buying an additional 63,058 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.