Keefe, Bruyette & Woods Issues Pessimistic Forecast for NMI (NASDAQ:NMIH) Stock Price

NMI (NASDAQ:NMIH) had its target price decreased by analysts at Keefe, Bruyette & Woods from $43.00 to $42.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target points to a potential upside of 21.28% from the stock’s current price.

Several other brokerages have also weighed in on NMIH. Barclays lowered NMI from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $48.00 to $41.00 in a report on Monday, January 6th. UBS Group lowered their target price on NMI from $42.00 to $41.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th. Finally, JPMorgan Chase & Co. lowered their target price on NMI from $42.00 to $41.00 and set an “overweight” rating for the company in a report on Tuesday. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $42.14.

NMI Stock Up 5.5 %

Shares of NMI stock opened at $34.63 on Tuesday. The company has a quick ratio of 0.83, a current ratio of 0.60 and a debt-to-equity ratio of 0.19. The firm has a market cap of $2.71 billion, a P/E ratio of 7.82, a P/E/G ratio of 1.41 and a beta of 0.62. NMI has a fifty-two week low of $29.05 and a fifty-two week high of $42.49. The business has a 50-day moving average price of $35.68 and a 200 day moving average price of $37.55.

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

Insider Buying and Selling

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

Hedge Funds Weigh In On NMI

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Principal Securities Inc. lifted its position in NMI by 66.5% in the fourth quarter. Principal Securities Inc. now owns 716 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 286 shares during the period. Smartleaf Asset Management LLC lifted its position in NMI by 288.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,868 shares of the financial services provider’s stock worth $69,000 after purchasing an additional 1,387 shares during the period. Covestor Ltd lifted its position in NMI by 601.1% in the fourth quarter. Covestor Ltd now owns 1,893 shares of the financial services provider’s stock worth $70,000 after purchasing an additional 1,623 shares during the period. Sterling Capital Management LLC lifted its position in NMI by 786.1% in the fourth quarter. Sterling Capital Management LLC now owns 2,295 shares of the financial services provider’s stock worth $84,000 after purchasing an additional 2,036 shares during the period. Finally, KBC Group NV lifted its position in NMI by 38.3% in the fourth quarter. KBC Group NV now owns 3,221 shares of the financial services provider’s stock worth $118,000 after purchasing an additional 892 shares during the period. 94.12% of the stock is owned by institutional investors.

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.