Credit Suisse Group initiated coverage on shares of NMI (NASDAQ:NMIH) in a report published on Thursday, BenzingaRatingsTable reports. The firm issued a neutral rating and a $30.00 price target on the financial services provider’s stock.
A number of other equities analysts also recently weighed in on NMIH. Zelman & Associates raised shares of NMI from a hold rating to a buy rating in a research note on Friday, August 2nd. ValuEngine downgraded shares of NMI from a hold rating to a sell rating in a research note on Wednesday, October 2nd. B. Riley set a $30.00 target price on shares of NMI and gave the stock a hold rating in a research note on Friday, August 2nd. BidaskClub downgraded shares of NMI from a strong-buy rating to a buy rating in a research note on Saturday, September 7th. Finally, Zacks Investment Research downgraded shares of NMI from a buy rating to a hold rating in a research note on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company. The stock presently has an average rating of Buy and an average price target of $30.56.
Shares of NASDAQ:NMIH traded down $0.02 during mid-day trading on Thursday, reaching $26.93. 304,707 shares of the company’s stock were exchanged, compared to its average volume of 434,196. The firm has a market capitalization of $1.80 billion, a price-to-earnings ratio of 16.22 and a beta of 1.23. The business’s fifty day moving average price is $27.41 and its 200-day moving average price is $27.51. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.43 and a current ratio of 0.43. NMI has a twelve month low of $15.62 and a twelve month high of $31.34.
NMI (NASDAQ:NMIH) last announced its earnings results on Wednesday, July 31st. The financial services provider reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.04. NMI had a net margin of 41.31% and a return on equity of 19.65%. The business had revenue of $91.18 million during the quarter, compared to the consensus estimate of $85.11 million. Analysts predict that NMI will post 2.4 EPS for the current fiscal year.
In other NMI news, EVP William J. Leatherberry sold 14,622 shares of NMI stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $27.81, for a total value of $406,637.82. Following the completion of the sale, the executive vice president now directly owns 173,967 shares of the company’s stock, valued at $4,838,022.27. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Adam Pollitzer sold 4,821 shares of NMI stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $28.02, for a total transaction of $135,084.42. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 123,818 shares of company stock valued at $3,434,097. Insiders own 4.20% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of NMIH. Eagle Asset Management Inc. bought a new stake in NMI in the second quarter valued at $37,045,000. Carillon Tower Advisers Inc. bought a new stake in NMI in the second quarter valued at $31,831,000. Nuveen Asset Management LLC bought a new stake in NMI in the second quarter valued at $23,048,000. FMR LLC increased its stake in NMI by 44.8% in the first quarter. FMR LLC now owns 2,501,047 shares of the financial services provider’s stock valued at $64,702,000 after purchasing an additional 773,781 shares in the last quarter. Finally, APG Asset Management N.V. increased its stake in NMI by 45.2% in the second quarter. APG Asset Management N.V. now owns 644,100 shares of the financial services provider’s stock valued at $16,057,000 after purchasing an additional 200,400 shares in the last quarter. 90.75% of the stock is owned by hedge funds and other institutional investors.
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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