NMI (NASDAQ:NMIH) Stock Rating Upgraded by StockNews.com

NMI (NASDAQ:NMIH - Get Free Report) was upgraded by investment analysts at StockNews.com from a "hold" rating to a "buy" rating in a research note issued on Friday.

NMIH has been the subject of several other reports. Keefe, Bruyette & Woods upped their target price on NMI from $33.00 to $36.00 and gave the company a "market perform" rating in a report on Thursday, April 4th. Truist Financial raised their target price on NMI from $36.00 to $37.00 and gave the company a "buy" rating in a research report on Wednesday. Royal Bank of Canada boosted 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. Finally, JPMorgan Chase & Co. raised their price objective on shares of NMI from $35.00 to $36.00 and gave the stock an "overweight" rating in a report on Wednesday. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, NMI currently has an average rating of "Moderate Buy" and a consensus target price of $34.67.

NMI Stock Up 0.1 %

NMIH traded up $0.04 during mid-day trading on Friday, reaching $32.51. 618,284 shares of the stock were exchanged, compared to its average volume of 553,399. NMI has a 1 year low of $22.49 and a 1 year high of $32.80. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.73 and a current ratio of 0.89. The stock has a market capitalization of $2.62 billion, a PE ratio of 8.05, a price-to-earnings-growth ratio of 1.16 and a beta of 1.06. The company has a 50 day moving average price of $30.57 and a two-hundred day moving average price of $29.52.

NMI (NASDAQ:NMIH - Get Free Report) last released its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $1.08 earnings per share for the quarter, beating analysts' consensus estimates of $0.96 by $0.12. NMI had a net margin of 56.26% and a return on equity of 18.09%. The company had revenue of $156.25 million for the quarter, compared to analyst estimates of $133.76 million. During the same period last year, the firm earned $0.88 earnings per share. The firm's revenue was up 14.2% on a year-over-year basis. As a group, research analysts anticipate that NMI will post 4.09 EPS for the current year.

Insider Activity

In related news, EVP Robert Owen Smith sold 3,000 shares of the firm's stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $31.19, for a total value of $93,570.00. Following the completion of the transaction, the executive vice president now directly owns 82,612 shares of the company's stock, valued at approximately $2,576,668.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Chairman Bradley M. Shuster sold 12,836 shares of the company's stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $30.53, for a total transaction of $391,883.08. Following the sale, the chairman now directly owns 427,271 shares in the company, valued at $13,044,583.63. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Robert Owen Smith sold 3,000 shares of the stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $31.19, for a total transaction of $93,570.00. Following the completion of the sale, the executive vice president now directly owns 82,612 shares in the company, valued at $2,576,668.28. The disclosure for this sale can be found here. Insiders have sold a total of 145,158 shares of company stock valued at $4,395,582 over the last quarter. Company insiders own 2.70% of the company's stock.

Institutional Trading of NMI

A number of hedge funds and other institutional investors have recently bought and sold shares of NMIH. Quadrant Capital Group LLC grew its position in shares of NMI by 6.1% during the 4th quarter. Quadrant Capital Group LLC now owns 6,071 shares of the financial services provider's stock valued at $180,000 after purchasing an additional 350 shares in the last quarter. Illinois Municipal Retirement Fund increased its stake in NMI by 0.8% in the 4th quarter. Illinois Municipal Retirement Fund now owns 48,423 shares of the financial services provider's stock worth $1,437,000 after acquiring an additional 388 shares during the last quarter. Hsbc Holdings PLC increased its stake in NMI by 5.0% in the 3rd quarter. Hsbc Holdings PLC now owns 11,765 shares of the financial services provider's stock worth $323,000 after acquiring an additional 565 shares during the last quarter. Cerity Partners LLC boosted its position in shares of NMI by 5.9% during the 4th quarter. Cerity Partners LLC now owns 11,567 shares of the financial services provider's stock valued at $343,000 after acquiring an additional 644 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of NMI by 3.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,692 shares of the financial services provider's stock valued at $555,000 after acquiring an additional 663 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.

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