NMI (NMIH) Rating Increased to Outperform at Keefe, Bruyette & Woods

NMI (NASDAQ:NMIH) was upgraded by equities researchers at Keefe, Bruyette & Woods from a “market perform” rating to an “outperform” rating in a report released on Monday, The Fly reports.

NMIH has been the topic of a number of other reports. BidaskClub raised shares of NMI from a “buy” rating to a “strong-buy” rating in a research note on Thursday, September 13th. Compass Point upped their price target on shares of NMI from $23.50 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday, October 31st. Royal Bank of Canada reaffirmed a “buy” rating and set a $24.00 price target on shares of NMI in a research note on Thursday, August 2nd. Barclays initiated coverage on shares of NMI in a research note on Monday, September 10th. They set an “overweight” rating and a $28.00 price target on the stock. Finally, Zacks Investment Research cut shares of NMI from a “strong-buy” rating to a “hold” rating in a research note on Saturday. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $24.39.

NASDAQ:NMIH opened at $20.31 on Monday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.29 and a current ratio of 0.29. NMI has a fifty-two week low of $13.35 and a fifty-two week high of $24.50. The firm has a market cap of $1.35 billion, a PE ratio of 35.63 and a beta of 1.10.

NMI (NASDAQ:NMIH) last posted its quarterly earnings results on Tuesday, October 30th. The financial services provider reported $0.46 earnings per share for the quarter, topping the Zacks’ 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 business had revenue of $71.76 million for the quarter. As a group, equities research analysts expect that NMI will post 1.52 earnings per share for the current fiscal year.

In related news, CEO Bradley M. Shuster sold 83,184 shares of the business’s stock in a transaction dated Tuesday, September 18th. The shares were sold at an average price of $22.23, for a total value of $1,849,180.32. Following the sale, the chief executive officer now directly owns 643,056 shares in the company, valued at approximately $14,295,134.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Steven Scheid sold 65,000 shares of the business’s stock in a transaction dated Tuesday, August 7th. The stock was sold at an average price of $21.50, for a total transaction of $1,397,500.00. Following the completion of the sale, the director now owns 72,691 shares in the company, valued at $1,562,856.50. The disclosure for this sale can be found here. Insiders sold a total of 416,720 shares of company stock worth $9,038,661 over the last quarter. Insiders own 5.70% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the stock. Glen Harbor Capital Management LLC boosted its position in shares of NMI by 70.0% in the 2nd quarter. Glen Harbor Capital Management LLC now owns 6,358 shares of the financial services provider’s stock worth $104,000 after buying an additional 2,618 shares in the last quarter. Tealwood Asset Management Inc. boosted its position in shares of NMI by 2.2% in the 2nd quarter. Tealwood Asset Management Inc. now owns 122,185 shares of the financial services provider’s stock worth $1,992,000 after buying an additional 2,645 shares in the last quarter. Navellier & Associates Inc boosted its position in shares of NMI by 5.5% in the 2nd quarter. Navellier & Associates Inc now owns 53,316 shares of the financial services provider’s stock worth $869,000 after buying an additional 2,762 shares in the last quarter. State of Alaska Department of Revenue boosted its position in shares of NMI by 14.7% in the 3rd quarter. State of Alaska Department of Revenue now owns 21,877 shares of the financial services provider’s stock worth $495,000 after buying an additional 2,797 shares in the last quarter. Finally, Louisiana State Employees Retirement System boosted its position in shares of NMI by 11.1% in the 3rd quarter. Louisiana State Employees Retirement System now owns 29,000 shares of the financial services provider’s stock worth $657,000 after buying an additional 2,900 shares in the last quarter. Institutional investors and hedge funds own 90.44% of the company’s stock.

About NMI

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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