NMI Holdings’ (NMIH) Hold Rating Reiterated at Keefe, Bruyette & Woods

NMI Holdings Inc (NASDAQ:NMIH)‘s stock had its “hold” rating restated by analysts at Keefe, Bruyette & Woods in a note issued to investors on Thursday, August 31st. They currently have a $13.00 target price on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price indicates a potential upside of 17.91% from the company’s current price.

Several other equities analysts also recently weighed in on NMIH. BidaskClub raised NMI Holdings from a “sell” rating to a “hold” rating in a research report on Wednesday, August 9th. Zacks Investment Research raised NMI Holdings from a “sell” rating to a “hold” rating in a research report on Thursday, August 10th. Compass Point downgraded NMI Holdings from a “buy” rating to a “neutral” rating and set a $13.00 price objective on the stock. in a research report on Tuesday, August 8th. Finally, Deutsche Bank AG set a $15.00 price objective on NMI Holdings and gave the company a “buy” rating in a research report on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company. NMI Holdings presently has an average rating of “Buy” and an average target price of $12.67.

Shares of NMI Holdings (NASDAQ NMIH) traded up 2.27% during mid-day trading on Thursday, reaching $11.25. 150,308 shares of the company’s stock traded hands. NMI Holdings has a 12-month low of $7.12 and a 12-month high of $12.70. The company has a market cap of $673.45 million, a P/E ratio of 8.95 and a beta of 0.65. The firm has a 50-day moving average of $11.36 and a 200 day moving average of $11.33.

NMI Holdings (NASDAQ:NMIH) last issued its quarterly earnings data on Tuesday, August 1st. The financial services provider reported $0.10 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.10. The business had revenue of $42.20 million for the quarter, compared to analysts’ expectations of $41.13 million. NMI Holdings had a return on equity of 5.95% and a net margin of 52.34%. The company’s revenue for the quarter was up 43.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.03 EPS. Equities analysts forecast that NMI Holdings will post $0.52 EPS for the current year.

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In other NMI Holdings news, CEO Bradley M. Shuster sold 89,227 shares of the stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $11.81, for a total value of $1,053,770.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP William J. Leatherberry purchased 5,000 shares of the firm’s stock in a transaction on Tuesday, August 29th. The stock was acquired at an average price of $10.65 per share, with a total value of $53,250.00. The disclosure for this purchase can be found here. Insiders have sold a total of 149,227 shares of company stock valued at $1,760,571 over the last 90 days. 5.40% of the stock is currently owned by company insiders.

Several large investors have recently made changes to their positions in the company. Navellier & Associates Inc purchased a new position in shares of NMI Holdings in the second quarter worth about $447,000. California State Teachers Retirement System raised its stake in shares of NMI Holdings by 3.8% in the second quarter. California State Teachers Retirement System now owns 101,002 shares of the financial services provider’s stock worth $1,156,000 after purchasing an additional 3,700 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of NMI Holdings by 16.5% in the second quarter. The Manufacturers Life Insurance Company now owns 46,614 shares of the financial services provider’s stock worth $534,000 after purchasing an additional 6,612 shares during the last quarter. State Street Corp raised its stake in shares of NMI Holdings by 6.3% in the second quarter. State Street Corp now owns 966,458 shares of the financial services provider’s stock worth $11,069,000 after purchasing an additional 56,882 shares during the last quarter. Finally, Capital Research Global Investors raised its stake in shares of NMI Holdings by 72.5% in the second quarter. Capital Research Global Investors now owns 3,481,202 shares of the financial services provider’s stock worth $39,860,000 after purchasing an additional 1,462,624 shares during the last quarter. Hedge funds and other institutional investors own 85.24% of the company’s stock.

NMI Holdings Company Profile

NMI Holdings, Inc (NMIH) provides private mortgage guaranty insurance through its insurance subsidiaries. The Company’s primary insurance subsidiary, National Mortgage Insurance Corporation (NMIC), is a mortgage insurance (MI) provider on loans purchased by the Government-sponsored enterprises (GSEs).

Analyst Recommendations for NMI Holdings (NASDAQ:NMIH)

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