NMI (NASDAQ:NMIH) Downgraded by StockNews.com

StockNews.com lowered shares of NMI (NASDAQ:NMIH) from a buy rating to a hold rating in a report published on Monday morning.

Other research analysts also recently issued research reports about the stock. Keefe, Bruyette & Woods upped their price target on shares of NMI from $37.00 to $40.00 and gave the stock a market perform rating in a research report on Thursday, August 1st. Compass Point increased their price target on shares of NMI from $33.00 to $36.00 and gave the company a buy rating in a research note on Tuesday, May 7th. Truist Financial boosted their price objective on shares of NMI from $37.00 to $47.00 and gave the stock a buy rating in a research report on Wednesday, July 31st. UBS Group lowered NMI from a buy rating to a neutral rating and increased their price objective for the company from $37.00 to $39.00 in a research report on Wednesday, May 22nd. Finally, Royal Bank of Canada boosted their target price on NMI from $34.00 to $40.00 and gave the stock a sector perform rating in a research report on Wednesday, July 31st. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $40.00.

NMI Stock Performance

NASDAQ:NMIH opened at $37.24 on Monday. The stock has a market capitalization of $2.99 billion, a P/E ratio of 9.22, a price-to-earnings-growth ratio of 0.94 and a beta of 1.09. The company has a current ratio of 0.67, a quick ratio of 0.89 and a debt-to-equity ratio of 0.20. NMI has a 1 year low of $25.62 and a 1 year high of $42.01. The firm has a 50 day moving average of $35.01 and a 200-day moving average of $32.44.

NMI (NASDAQ:NMIH) last released its quarterly earnings results on Tuesday, July 30th. The financial services provider reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.15. The firm had revenue of $162.12 million during the quarter, compared to analysts’ expectations of $138.49 million. NMI had a return on equity of 18.29% and a net margin of 56.40%. The business’s revenue was up 13.6% on a year-over-year basis. During the same period last year, the firm posted $0.95 EPS. As a group, sell-side analysts anticipate that NMI will post 4.33 EPS for the current fiscal year.

Insider Transactions at NMI

In other NMI news, Director Michael J. Embler sold 26,008 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $39.35, for a total value of $1,023,414.80. Following the transaction, the director now owns 61,607 shares of the company’s stock, valued at $2,424,235.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 2.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On NMI

Several hedge funds have recently bought and sold shares of NMIH. Vanguard Group Inc. increased its position in shares of NMI by 5.3% in the 1st quarter. Vanguard Group Inc. now owns 7,168,138 shares of the financial services provider’s stock valued at $231,818,000 after buying an additional 358,930 shares in the last quarter. Van Berkom & Associates Inc. grew its stake in NMI by 2.1% in the second quarter. Van Berkom & Associates Inc. now owns 2,451,743 shares of the financial services provider’s stock valued at $83,457,000 after acquiring an additional 51,194 shares during the period. American Century Companies Inc. increased its holdings in shares of NMI by 18.4% in the second quarter. American Century Companies Inc. now owns 1,617,601 shares of the financial services provider’s stock worth $55,063,000 after acquiring an additional 251,664 shares in the last quarter. Assenagon Asset Management S.A. raised its position in shares of NMI by 23.0% during the second quarter. Assenagon Asset Management S.A. now owns 1,407,610 shares of the financial services provider’s stock worth $47,915,000 after purchasing an additional 263,250 shares during the period. Finally, Capital International Investors bought a new position in shares of NMI during the 1st quarter valued at about $32,270,000. 94.12% of the stock is currently owned by institutional investors and hedge funds.

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.