NMI (NASDAQ:NMIH) Cut to “Hold” at Keefe, Bruyette & Woods

NMI (NASDAQ:NMIH) was downgraded by investment analysts at Keefe, Bruyette & Woods from a “moderate buy” rating to a “hold” rating in a research report issued on Sunday,Zacks.com reports.

NMIH has been the subject of a number of other research reports. Weiss Ratings raised shares of NMI from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, June 12th. Royal Bank Of Canada assumed coverage on shares of NMI in a report on Friday, May 22nd. They issued an “outperform” rating and a $46.00 price target on the stock. JPMorgan Chase & Co. increased their price objective on NMI from $48.00 to $50.00 and gave the company an “overweight” rating in a report on Friday. Truist Financial upped their target price on NMI from $49.00 to $51.00 and gave the company a “buy” rating in a research report on Friday. Finally, UBS Group set a $46.00 price target on NMI in a research note on Friday, May 22nd. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $47.17.

NMI Stock Performance

Shares of NMI stock opened at $44.58 on Friday. The company has a market capitalization of $3.39 billion, a PE ratio of 8.78, a P/E/G ratio of 1.53 and a beta of 0.53. The company has a 50-day simple moving average of $39.76 and a two-hundred day simple moving average of $39.04. NMI has a one year low of $34.84 and a one year high of $46.74. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.63 and a current ratio of 0.65.

NMI (NASDAQ:NMIH) last released its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.10. NMI had a net margin of 54.10% and a return on equity of 15.13%. The business had revenue of $187.89 million for the quarter, compared to analysts’ expectations of $156.26 million. During the same period last year, the business earned $1.22 EPS. The company’s revenue was up 8.1% compared to the same quarter last year. Research analysts expect that NMI will post 5.14 EPS for the current fiscal year.

Insider Activity

In other news, Director Michael Curry Montgomery sold 1,554 shares of NMI stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $37.90, for a total transaction of $58,896.60. Following the completion of the sale, the director directly owned 69,026 shares in the company, valued at approximately $2,616,085.40. The trade was a 2.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.44% of the company’s stock.

Institutional Trading of NMI

Hedge funds and other institutional investors have recently made changes to their positions in the business. Bessemer Group Inc. increased its position in NMI by 34.0% during the first quarter. Bessemer Group Inc. now owns 1,071 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 272 shares during the period. Rockefeller Capital Management L.P. lifted its stake in NMI by 35.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,160 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 301 shares during the period. Evolve Private Wealth LLC raised its holdings in shares of NMI by 1.6% in the 1st quarter. Evolve Private Wealth LLC now owns 19,525 shares of the financial services provider’s stock worth $732,000 after buying an additional 302 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of NMI by 11.6% during the second quarter. GAMMA Investing LLC now owns 2,989 shares of the financial services provider’s stock valued at $123,000 after acquiring an additional 310 shares during the period. Finally, California State Teachers Retirement System boosted its position in NMI by 0.5% in the second quarter. California State Teachers Retirement System now owns 70,112 shares of the financial services provider’s stock valued at $2,958,000 after buying an additional 328 shares in the last quarter. Institutional investors and hedge funds own 94.12% of the company’s stock.

About NMI

NMI Holdings, Inc (NASDAQ: NMIH) is a publicly traded mortgage insurance company that provides private mortgage insurance to lenders across the United States and Canada. Through its principal subsidiary, National Mortgage Insurance Corporation, NMI underwrites and issues policies that protect originators and investors against losses arising from borrower default on residential mortgage loans. By mitigating credit risk on higher‐loan‐to‐value mortgages, the company supports homebuyers’ access to financing and contributes to overall market liquidity.

Beyond its core mortgage insurance products, NMI offers credit risk‐sharing and reinsurance solutions designed to help clients optimize capital utilization and manage portfolio exposure.