NMI (NMIH) Upgraded to Outperform by Keefe, Bruyette & Woods

Keefe, Bruyette & Woods upgraded shares of NMI (NASDAQ:NMIH) from a market perform rating to an outperform rating in a research report sent to investors on Monday morning, MarketBeat reports. Keefe, Bruyette & Woods currently has $28.00 price target on the financial services provider’s stock, up from their prior price target of $25.00.

Several other research analysts have also recently commented on the stock. Zacks Investment Research cut shares of NMI from a strong-buy rating to a hold rating in a report on Saturday, November 3rd. Compass Point raised their target price on shares of NMI from $23.50 to $26.00 and gave the stock a buy rating in a report on Wednesday, October 31st. BidaskClub cut shares of NMI from a buy rating to a hold rating in a report on Tuesday, October 9th. Barclays assumed coverage on shares of NMI in a report on Monday, September 10th. They set an overweight rating and a $28.00 target price on the stock. Finally, B. Riley raised their target price on shares of NMI from $20.00 to $26.00 and gave the stock a buy rating in a report on Tuesday, August 7th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company has a consensus rating of Buy and an average target price of $24.89.

Shares of NMIH opened at $21.84 on Monday. NMI has a 12 month low of $13.35 and a 12 month high of $24.50. The company has a market cap of $1.40 billion, a PE ratio of 38.32 and a beta of 1.10. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.22.

NMI (NASDAQ:NMIH) last announced its earnings results on Tuesday, October 30th. The financial services provider reported $0.46 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.05. NMI had a net margin of 27.89% and a return on equity of 15.86%. The company had revenue of $71.76 million for the quarter. As a group, equities analysts predict that NMI will post 1.52 EPS for the current year.

In related news, CEO Bradley M. Shuster sold 81,972 shares of NMI stock in a transaction that occurred on Thursday, September 6th. The shares were sold at an average price of $21.24, for a total value of $1,741,085.28. Following the transaction, the chief executive officer now directly owns 643,056 shares of the company’s stock, valued at $13,658,509.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Bradley M. Shuster sold 83,184 shares of NMI stock in a transaction that occurred on Tuesday, September 18th. The shares were sold at an average price of $22.23, for a total transaction of $1,849,180.32. Following the completion of the transaction, the chief executive officer now directly owns 643,056 shares in the company, valued at $14,295,134.88. The disclosure for this sale can be found here. Insiders sold 351,720 shares of company stock worth $7,641,161 over the last three months. 5.70% of the stock is currently owned by insiders.

A number of large investors have recently made changes to their positions in the stock. California Public Employees Retirement System boosted its position in NMI by 94.3% in the first quarter. California Public Employees Retirement System now owns 87,771 shares of the financial services provider’s stock valued at $1,453,000 after buying an additional 42,602 shares in the last quarter. LPL Financial LLC boosted its position in NMI by 16.2% in the first quarter. LPL Financial LLC now owns 37,445 shares of the financial services provider’s stock valued at $620,000 after buying an additional 5,212 shares in the last quarter. Millennium Management LLC boosted its position in NMI by 277.5% in the first quarter. Millennium Management LLC now owns 419,719 shares of the financial services provider’s stock valued at $6,946,000 after buying an additional 308,530 shares in the last quarter. Legal & General Group Plc boosted its position in NMI by 9.1% in the first quarter. Legal & General Group Plc now owns 107,692 shares of the financial services provider’s stock valued at $1,780,000 after buying an additional 8,938 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in NMI by 13.1% in the first quarter. Principal Financial Group Inc. now owns 488,580 shares of the financial services provider’s stock valued at $8,086,000 after buying an additional 56,467 shares in the last quarter. 90.44% of the stock is currently owned by institutional investors and hedge funds.

NMI Company Profile

NMI Holdings, Inc, through its subsidiaries, provides private mortgage guaranty insurance services in the United States. The company offers mortgage insurance; reinsurance on loans; 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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Analyst Recommendations for NMI (NASDAQ:NMIH)

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