Keefe, Bruyette & Woods Cuts NMI (NASDAQ:NMIH) Price Target to $42.00

NMI (NASDAQ:NMIH) had its target price decreased by equities research analysts at Keefe, Bruyette & Woods from $43.00 to $42.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective would indicate a potential upside of 25.21% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. Barclays cut NMI from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $48.00 to $41.00 in a research note on Monday, January 6th. JPMorgan Chase & Co. lowered their price target on shares of NMI from $42.00 to $41.00 and set an “overweight” rating for the company in a research report on Tuesday. Finally, UBS Group cut their price objective on shares of NMI from $42.00 to $41.00 and set a “neutral” rating on the stock in a report on Wednesday, February 19th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $42.14.

NMI Trading Up 2.3 %

NASDAQ NMIH traded up $0.75 during trading on Tuesday, hitting $33.54. The company had a trading volume of 229,651 shares, compared to its average volume of 518,205. The company’s fifty day moving average is $36.08 and its 200-day moving average is $37.70. NMI has a one year low of $29.05 and a one year high of $42.49. The company has a current ratio of 0.60, a quick ratio of 0.83 and a debt-to-equity ratio of 0.19. The company has a market cap of $2.62 billion, a price-to-earnings ratio of 7.56, a price-to-earnings-growth ratio of 1.41 and a beta of 0.62.

NMI (NASDAQ:NMIH) last issued its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $1.07 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.07). NMI had a return on equity of 17.33% and a net margin of 55.32%. On average, sell-side analysts predict that NMI will post 4.62 earnings per share for the current year.

Insider Activity

In other NMI news, EVP Norman Peter Fitzgerald sold 20,000 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $35.88, for a total transaction of $717,600.00. Following the transaction, the executive vice president now owns 37,470 shares in the company, valued at approximately $1,344,423.60. This represents a 34.80 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mohammad Nawaz Yousaf sold 1,083 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $35.44, for a total transaction of $38,381.52. Following the completion of the sale, the executive vice president now owns 49,218 shares in the company, valued at $1,744,285.92. This represents a 2.15 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.70% of the company’s stock.

Institutional Trading of NMI

A number of hedge funds have recently bought and sold shares of the company. Point72 Asset Management L.P. increased its position in shares of NMI by 42.9% during the 3rd quarter. Point72 Asset Management L.P. now owns 6,200 shares of the financial services provider’s stock valued at $255,000 after purchasing an additional 1,861 shares during the last quarter. State Street Corp increased its holdings in NMI by 1.0% during the third quarter. State Street Corp now owns 3,565,348 shares of the financial services provider’s stock valued at $146,857,000 after buying an additional 35,351 shares during the last quarter. Jane Street Group LLC raised its position in NMI by 64.2% in the third quarter. Jane Street Group LLC now owns 139,173 shares of the financial services provider’s stock worth $5,733,000 after acquiring an additional 54,391 shares during the period. XTX Topco Ltd purchased a new position in shares of NMI during the 3rd quarter worth $568,000. Finally, Barclays PLC grew its position in shares of NMI by 264.4% during the 3rd quarter. Barclays PLC now owns 386,999 shares of the financial services provider’s stock valued at $15,940,000 after acquiring an additional 280,809 shares during the period. Hedge funds and other institutional investors own 94.12% of the company’s stock.

NMI Company Profile

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.