Shares of NMI Holdings Inc (NASDAQ:NMIH - Get Free Report) have received an average recommendation of "Moderate Buy" from the seven research firms that are covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $42.43.
A number of equities analysts recently commented on NMIH shares. Keefe, Bruyette & Woods cut NMI from an "outperform" rating to a "market perform" rating and raised their target price for the company from $42.00 to $43.00 in a report on Monday. JPMorgan Chase & Co. cut their target price on NMI from $42.00 to $41.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Compass Point reissued a "buy" rating and set a $37.00 target price (up previously from $34.00) on shares of NMI in a research report on Friday, May 23rd. Finally, Wall Street Zen raised NMI from a "hold" rating to a "buy" rating in a research report on Monday, May 5th.
Check Out Our Latest Analysis on NMIH
NMI Stock Down 4.5%
Shares of NMIH opened at $41.19 on Tuesday. NMI has a 52-week low of $31.90 and a 52-week high of $43.20. The company has a market capitalization of $3.22 billion, a PE ratio of 8.90, a price-to-earnings-growth ratio of 1.46 and a beta of 0.55. The stock has a fifty day simple moving average of $39.47 and a two-hundred day simple moving average of $37.12. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.18.
NMI (NASDAQ:NMIH - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The financial services provider reported $1.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.10 by $0.18. The firm had revenue of $173.25 million during the quarter, compared to the consensus estimate of $169.04 million. NMI had a return on equity of 17.27% and a net margin of 55.93%. The company's quarterly revenue was up 10.8% on a year-over-year basis. During the same period last year, the company earned $1.08 EPS. As a group, equities analysts forecast that NMI will post 4.62 EPS for the current year.
Insider Buying and Selling at NMI
In related news, Director Michael Curry Montgomery sold 1,875 shares of the firm's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $38.05, for a total transaction of $71,343.75. Following the sale, the director directly owned 66,068 shares in the company, valued at approximately $2,513,887.40. This trade represents a 2.76% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Adam Pollitzer sold 57,166 shares of the firm's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $36.54, for a total value of $2,088,845.64. Following the sale, the chief executive officer owned 329,465 shares of the company's stock, valued at approximately $12,038,651.10. This trade represents a 14.79% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 113,697 shares of company stock worth $4,210,337. Insiders own 3.00% of the company's stock.
Institutional Investors Weigh In On NMI
Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of NMI by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 7,158,877 shares of the financial services provider's stock worth $263,160,000 after buying an additional 39,503 shares in the last quarter. American Century Companies Inc. raised its position in shares of NMI by 9.0% during the first quarter. American Century Companies Inc. now owns 2,133,945 shares of the financial services provider's stock worth $76,929,000 after purchasing an additional 176,766 shares during the period. Assenagon Asset Management S.A. raised its position in shares of NMI by 70.9% during the first quarter. Assenagon Asset Management S.A. now owns 2,034,419 shares of the financial services provider's stock worth $73,341,000 after purchasing an additional 844,037 shares during the period. Millennium Management LLC raised its position in shares of NMI by 209.9% during the first quarter. Millennium Management LLC now owns 1,432,950 shares of the financial services provider's stock worth $51,658,000 after purchasing an additional 970,551 shares during the period. Finally, Donald Smith & CO. Inc. raised its position in shares of NMI by 34.8% during the fourth quarter. Donald Smith & CO. Inc. now owns 1,307,868 shares of the financial services provider's stock worth $48,077,000 after purchasing an additional 337,996 shares during the period. Institutional investors and hedge funds own 94.12% of the company's stock.
About NMI
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Get Free ReportNMI 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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